Dwyane Wade is staying with the Miami 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, 32, signed a new contract with the Heat on Tuesday. It's a two-year deal, the second of those seasons a player option, said a person familiar with the situation. The person spoke to The Associated Press on condition of anonymity because neither side announced terms.
Wade said in a statement: "I've been here through the good times and the hard times. I have confidence in the Miami Heat organization and the team they are building."
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.
Wade's return was expected, yet still represents a huge win for Miami during free agency -- especially since it comes less than a week after LeBron James left after four seasons and returned to the Cleveland Cavaliers.
Chris Bosh is in the process of finishing a $118 million, five-year contract with Miami, and the Heat signed Luol Deng to a two-year, $20 million deal that was agreed to over the weekend.
Bulls: Chicago used the amnesty clause to cut veteran Carlos Boozer after four seasons with the team. Boozer, 32, had one season left on a five-year deal worth roughly $75 million. The amnesty clause allows a team to waive one player during the current labor deal and have 100 percent of his salary taken off the cap and the tax. The power forward is still owed the money.
Cavaliers: Mike Miller has agreed to a $5.5 million, two-year contract with Cleveland, reuniting the sharpshooting forward with James, his former teammate in Miami. Miller's contract includes a player option in the second year, a person familiar with the negotiations told The Associated Press.
Miller, 34, also was pursued by Dallas and Denver. Playing for Memphis last season, he shot 46 percent on 3-pointers.
Clippers: NBA commissioner Adam Silver says he is hopeful that the proposed $2 billion sale of the Los Angeles Clippers will be completed before next season begins. But he could not guarantee that will happen because the deal is currently held up in the courts.
Silver spoke Tuesday evening after a meeting of the NBA's Board of Governors. He says he cannot guarantee Donald Sterling will be out as owner of the Clippers because he is fighting the sale.
Sterling's wife Shelly has agreed to sell the team to Microsoft CEO Steve Ballmer. But Donald Sterling is challenging Shelly's right to make that deal, and delays have pushed closing arguments back to July 28. Silver says the process is on hold until that case has been resolved.