Wade opted out of a 2 year $40+ million deal, so he is the big loser in LeBron going to the Cavs. According to the AP, Wade’s deal with be 2 years, $34 million with a player option for the 2015-16 season.
So, essentially it is a one year deal and Wade can become a free agent after next season or play out the final year of his deal.
Wade County.
Can confirm report — 1st by AP — that Wade's deal is 1 year plus option. Heat wanted flexibility in 2016. Got it. And he sacrificed again.
— Ethan J. Skolnick (@EthanJSkolnick) July 15, 2014