Extension economics may leave Wade no choice but to wait

The possibility of guard Dwyane Wade signing an extension with the Miami Heat might be out the door even before the door opens.

While Wade can sign an extension beginning Sunday, a league source confirmed Tuesday than an arcane NBA rule would limit that extension to a maximum of three seasons beyond the two Wade already has on his current contract, the $14.4 million he is due this coming season and the $15.8 million he is due in 2010-11 in his option year.

Yet if Wade instead waits until next summer and opts out of that 2010-11 season to become a free agent, he can sign a new six-year contract with the Heat.

In effect, by extending his contract this summer, Wade can sign only through the 2013-14 season. However, if Wade plays out this coming season and enters 2010 free agency, he would be eligible to sign with the Heat through 2015-16. That would put him under contract through age 34.

"That's a big part of it. I'm in the prime of my career," he said. "You've got this window from 27 to 33, 34, normally, where you're as good as you're going to get."

Those extra two seasons could be worth about additional $50 million, money Wade might have trouble otherwise recovering at such an age.

In addition, should Wade sign when his extension window opens Sunday, his salaries for 2014-15 and 2015-16 would then have be negotiated under a new collective-bargaining agreement, which is expected to be far more restrictive, considering the current economic climate.

The NBA is scheduled to move to a new working agreement in the 2011 offseason.

Either way, a quick decision is not necessary. By rule, Wade can extend any time between Sunday and June 30, 2010. Sunday merely opens the negotiation window, since it is the third anniversary of Wade's rookie-scale extension.

One advantage for the Heat in the current collective-bargaining agreement is a rule that encourages free agents to remain with their current teams, with an extra $30 million available in such instances. A player moving to an outside team in free agency can only sign for five seasons, instead of six with his current team, and for smaller allowable raises.

However, the extension rules would seem to work against the Heat locking Wade up before next July, since it would require the NBA's 2009 scoring champion to yield significant future earnings by signing now rather than later.

For his part, Wade said the process has been grating.

"I know that one of the selling points is going to be, 'Sign now, you won't have to go through it,' " he said, as he promoted the upcoming Summer Groove charity week that culminates with Sunday's all-star game at AmericanAirlines Arena. "But, at the same time, you're talking about your future here. You get one opportunity to be a free agent. Your next deal is a long-term deal and you're with that team for a long time.

"So, if you've got to deal with those questions for a year, then you've got to deal with the questions for a year. But this is about the future, your future."

Like Toronto Raptors forward Chris Bosh, another potential 2010 free agent who already has said he would not entertain an extension, and like Cleveland Cavaliers forward LeBron James, who also is expected to bypass an extension, Wade said such a decision should not take the focus off the coming season.

"I'm not going anywhere in 2009-2010," he said. "This season, I'll be in Miami, and this is where I want to be." Source: SunSentinel.com