NBA Free Agency Roundup (July 15): Dwyane Wade re-signs with Miami Heat

Associated Press Published:

Dwyane Wade has re-signed with the Miami Heat.

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 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.

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 opted out of a contract that would have paid him about $42 million over the next two seasons.

Luol Deng signs 2-year deal with Heat

MIAMI -- Luol Deng has signed a $20 million, two-year contract with the Miami Heat.

He agreed to the deal over the weekend. The contract signed Tuesday includes a player option for 2015-16.

Deng is entering his 11th NBA season, after spending almost his entire career with the Chicago Bulls. He appeared in 40 games with the Cleveland Cavaliers following a trade last season. In Miami, he figures to compete for the starting spot vacated last week when LeBron James left the Heat for a return to the Cavaliers.

Deng has averaged 16.0 points in his career. He was picked No. 7 overall from Duke in the 2004 draft.

Wolves, Warriors restart Love talks

LAS VEGAS -- A person with knowledge of the situation tells The Associated Press that the Minnesota Timberwolves and Golden State Warriors have restarted trade talks for All-Star forward Kevin Love.

The person requested anonymity because both teams are not publicly commenting on trade discussions.

Timberwolves president and coach Flip Saunders was seen talking to Warriors GM Bob Myers during summer league play in Las Vegas on Sunday.

The two teams had been going back and forth with proposals involving Love since before the draft. But the Warriors' reluctance to include shooting guard Klay Thompson in any package to Minnesota was considered a deal-breaker for the Timberwolves.

The Timberwolves also have been talking to the Cleveland Cavaliers, who so far have been unwilling to include Andrew Wiggins in any offer.

Grizzlies sign Udrih to multiyear deal

MEMPHIS, Tenn. -- The Memphis Grizzlies have signed guard Beno Udrih to a multiyear contract.

The Grizzlies announced the deal Tuesday. Terms and length of the contract weren't disclosed.

Bulls use amnesty clause to cut Boozer

CHICAGO -- The Chicago Bulls have used the amnesty clause to cut forward Carlos Boozer after four seasons with the team.

The Bulls also waived forward Lou Amundson and guards Ronnie Brewer and Mike James on Tuesday. They are clearing salary-cap space to make room for the signing of free-agent center Pau Gasol and the first NBA contract for 2011 draft pick Nikola Mirotic.

Boozer came to the Bulls in a sign-and-trade deal with Utah in July 2010. He 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. Boozer is still owed the money.

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