On Tuesday a report surfaced that Dwyane Wade and Chris Bosh had agreed to contracts with the Miami Heat for reduced amounts of money in order to give the team room to improve under the salary cap. The report made a lot of sense and was largely expected. But later in the day Henry Thomas, the agent for both Wade and Bosh, refuted that story.
The original report claimed that Wade had accepted a four-year deal in which he would earn $12 million in the first year, while Bosh had inked a five-year deal beginning with an $11 million salary in 2014-15. Thomas has now publicly claimed that report was false.
Wade and Bosh both opted out of the final years of their contracts and the theory has been that they planned on re-signing with the Heat for less money so the team could add pieces to the roster and improve it.
While the Heat made the NBA Finals this year, they were absolutely exposed by the San Antonio Spurs. Without improvements there was no way they could hope to win titles, and the only way for the roster to get better was for Bosh, Wade and LeBron James to opt out and potentially take less money.
No one knows if James will return to Miami, but most believe he will. Meanwhile virtually everyone believes that Bosh and Wade will be back with the Heat regardless of what James does. It would make sense for them to take less money as part of a plan to lure James and possibly other solid free agents to Miami.
Bosh and Wade are likely signing their final big NBA contracts, so it would also make sense for them to get as much as they can out of them. They will have to balance being rewarded for their talents and their desire to win more championships.