NBA Free Agency: Wade aiming to return to Chicago next season
Dwyane Wade has indicated that he will likely exercise his player option and remain with the Chicago Bulls this summer, amid trade speculation surrounding teammate Jimmy Butler.
According to a report from Ramona Shelburne of ESPN early this morning, Chicago Bulls shooting guard Dwyane Wade will likely choose to exercise the second year, $23.8 million player option on his contract.
Shelburne noted in her report that Wade would ideally prefer to avoid a tank job if the Bulls deal fellow alpha Jimmy Butler and bottom out next season. As matters currently stand however, Dwyane intends to stay in Chicago.
The Chicago native’s player option deadline is set for June 27. So he still has a week to change his mind if he becomes unhappy with the direction that the Bulls elect to follow. If the trade talks surrounding Butler heat up and a deal materializes as the NBA Draft approaches, Wade might consider leaving Chicago more seriously.
Declining such a large option would amount to a huge financial risk though. What teams would be willing to pay 35-year-old Wade, especially at anything close to $25 million per year? Some surprise suitors like Denver and Milwaukee emerged for him last season, so perhaps a few teams craving a big name would pursue him. At the same time though, those teams mostly functioned as leverage plays last summer that Wade used to negotiate a more lucrative contract.
The teams that will have the space to overpay for Wade probably won’t be as appealing to him as Chicago anyway. If Wade declines his option and wants to join a playoff contender though, he will likely have to take a big pay cut. Considering the fact that Wade left Miami because he felt the Heat were lowballing him, taking substantially less money just one year later seems unlikely.
Perhaps leaving money on the table would depend on how Wade views himself within the league’s hierarchy at this point. If Wade feels that he has entered a different phase of his career, he may be willing to play for a discounted rate. If he still feels like the Flash, I wouldn’t bet on him leaving Chicago this summer.
Next: Every NBA team's greatest draft pick of all time
Even if the Bulls enter tank mode, Wade could push for a trade next season. The market for him may not be particularly robust, but he’ll be on an expiring deal that a team may be willing to take a risk on. In any case, deciding to opt in probably makes the most sense for Wade at this juncture.