As expected, Dwyane Wade will hit the free agent market this week.
ESPN reports that Wade, who is looking for a major pay raise this summer, has declined to pick up his option with the Miami Heat for next season.
Wade was scheduled to earn $16.1 million in 2015-16:
Wade, 33, is believed to be seeking a deal that would average at least $16 million over the next three seasons. The Heat had preferred for Wade to opt in for the final season of his contract and then work with the team on a new contract after next season that would give the Heat salary-cap flexibility going into the 2016 free-agency period, when Kevin Durant could become available.
Wade has spent his entire 12-year career with the Heat.
Earlier Monday, Luol Deng’s agent said his client will exercise his $10.1 million player option to remain with the Heat.