Dwyane Wade's return to the Heat was not unexpected, yet still represents a huge win for Miami during free agency. (Robyn Beck / Getty Images)
Dwyane Wade is staying with the Heat, and his latest deal is designed to give both the player and the only franchise he’s ever known some flexibility in the coming years.
Wade signed a new contract with the Heat on Tuesday. It’s a two-year deal, the second of those seasons a player option.
“Home Is Where The Heart Is … My Home, My City, My House,” Wade wrote on Twitter, then used the phrase “HeatLifer” when attaching a photo of himself standing below the three NBA championship banners that hang at the Heat’s home arena.
Financial terms were not announced, though it’s expected Wade’s salary for next season will not reach the $20.2 million he would have made under his previous contract.
“Dwyane has been the franchise cornerstone for this team since the day he arrived 11 years ago,” Heat president Pat Riley said. “He has shown his commitment to the Heat many times over the course of his career and has always been willing to sacrifice in order to help build this team into a champion.
“This time is no different.”
Wade’s return was not unexpected, yet still represents a huge win for Miami during free agency — especially since it comes less than a week after James left the Heat after four seasons and returned to the Cavaliers.
So now, what was the “Big 3” is a “Big 2.” Bosh is in the process of finishing a $118 million, five-year contract with Miami.
Also Tuesday, the Heat signed Luol Deng to a two-year, $20 million deal, which was agreed to last weekend.
Wade is entering his 12th Heat season and is the franchise’s all-time leader in games, points, assists and steals.
He and Udonis Haslem, who is also expected to complete a new two-year contract with Miami in the coming days, are the only players to appear on all three of the Heat teams that won NBA championships in 2006, 2012 and 2013.
Wade was limited to 54 games last season, in large part because of a maintenance program designed to limit wear and tear on his knees.
But when he was on the floor, he was effective — shooting a career best 54.5 percent and averaging 19.0 points.
The Timberwolves and Warriors have reopened trade talks for All-Star forward Kevin Love, according to reports.
The Warriors have been reluctant to include shooting guard Klay Thompson in any package, which has been considered a deal-breaker for the Timberwolves.
... The Bulls used the amnesty clause to cut forward Carlos Boozer after four seasons.
The Bulls also waived forward Lou Amundson and guards Ronnie Brewer and Mike James. They are clearing salary-cap space to make room for the signing of free-agent center Pau Gasol and the first contract for 2011 pick Nikola Mirotic.
... Free agent swingman Mike Miller agreed to a two-year, $5.5 million contract with the Cavaliers, re-uniting him with James. Miller and James were teammates for three seasons in Miami.
... The Spurs completed their signing of forward Boris Diaw to a three-year, $22 million deal.
... The Wizards acquired forward Kris Humphries as part of a sign-and-trade deal with the Celtics, ESPN.com reported. Humphries is expected to sign a three-year, $13 million contract.
The three-team trade thaat sent forward Trevor Ariza to the Rockets was made official.
Houston will send center Omer Asik, forward Omri Casspi and cash considerations to New Orleans.
Washington, meanwhile, will receive center Melvin Ely and a trade exception.
Houston also gets forward Alonzo Gee, guard Scotty Hopson and a 2015 first-round draft pick from New Orleans.
Ariza agreed to a four-year, $32 million deal.
... The Thunder signed free agent guard Sebastian Telfair. Terms were not disclosed.
... Drunken driving charges have been dropped against Raptors center Jonas Valanciunas.