Wade, Bosh opt out, join Lebron as free agents

Miami Heat forward LeBron James (6) talks with center Chris Bosh (1), guard Dwyane Wade (3) during...

Miami Heat forward LeBron James (6) talks with center Chris Bosh (1), guard Dwyane Wade (3) during the second quarter of game four of the 2014 NBA Finals against the San Antonio Spurs at American Airlines Arena on Jun 12, 2014 in Miami, FL, USA. (Bob Donnan-USA TODAY Sports)

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, Last Updated: 4:58 PM ET

Miami Heat guard Dwyane Wade and forward Chris Bosh joined teammate LeBron James by opting out of their contracts to become free agents, ESPN reported Saturday.

Wade and Bosh are both represented by agent Henry Thomas. Forward

Udonis Haslem is also opting out. He is represented by Thomas as well.

The moves give the Heat a record $55 million in cap space.

Wade, Bosh, James and Haslem are free to negotiate with teams beginning at 12:01 a.m. ET on Tuesday.

The players could rejoin the Heat for less money to help team president Pat Riley make roster additions.

"Today we were notified of Dwyane's intention to opt-out of his contract and Udonis' intention to not opt into his contract, making both players free agents," Riley said in a statement. "Dwyane has been the cornerstone of our organization for over a decade, and we hope he remains a part of the Heat family for life. Udonis has been the heartbeat of this team for 11 years. He has sacrificed countless times to make this organization successful, and he is the epitome of what this organization stands for. We look forward to meeting with Dwyane and Udonis and their agent in the coming days to discuss our future together."

Haslem alone was due to make $4.62 million next season.

With the four players opting out but possibly returning for less money, the Heat can use the savings to add needed depth and make another run at the NBA title.

The Heat have been to the NBA Finals four straight years, including two championships, but lost to the San Antonio Spurs in five games earlier this month.

Wade averaged 19 points, 4.7 assists and 4.5 rebounds for Miami last season while Bosh averaged 16.2 points and 6.6 rebounds.

Haslem has been a key contributor for the Heat over the years, but his production fell off last season as he averaged just 3.8 points and 3.4 rebounds in 46 games. In the playoffs, he averaged just 10.6 minutes in six games.


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