Miami Heat star Dwyane Wade has decided not to pick up his option with the team for next season and will instead test the free agent market, ESPN reports.
Wade was scheduled to make $16.1 million during the 2015-16 season but will not be free to sign with any team once free agency opens on Wednesday.
Wade, 33, is rumored to be seeking a deal with an annual salary of at least $16 million over the next three years. Miami wanted Wade to opt in for the final season of his contract before the two sides negotiated a new contract after next season. The salary cap is expected to rise significantly at that point and the Heat wanted to maintain financial flexibility for when Oklahoma City Thunder star Kevin Durant became available.
Wade has spent his entire 12-year career with the Heat and has won three NBA championships in that time. However, he has struggled with injuries over the last several years, missing a total of 100 games over the last four seasons.
He averaged 21.5 points, 4.8 assists and 3.5 rebounds in 62 games this past year.
