NBA free agency rumors: Chris Bosh and Dwyane Wade opt out

Dwyane Wade and Chris Bosh joined LeBron James in the free agent market on Saturday by reportedly deciding to opt out of their contracts. It's a move that frees up approximately $55 million in cap space for the Heat to re-sign James, Bosh and Wade and still overhaul the roster to a degree. Earlier in the day it was reported Udonis Haslem also opted out of his deal and expects to sign a cheaper long-term contract to give the Heat a bit more breathing room under the salary cap.

Wade's decision, in particular, registers as a bit of a surprise. Wade missed 28 games during the regular season in the hope that he would be fresh for the end of the playoffs, but the 32-year-old looked old and slow in the Finals as the Heat were run off the floor by the Spurs. It's likely that Wade will have to take a bit of an annual paycut, but will still almost certainly get all of the guaranteed money he turned down, and probably more. It will simply be spread out over a longer period of time.

The other piece of free agency news is that LeBron wants max money to return to Miami. I'm not entirely sure I buy this, but he's certainly earned it.

Elsewhere:

• The Knicks are confident they can bring back Melo, and they want Pau Gasol, too.
• Nikola Mirotic sounds like he's done at Real Madrid. Blog-a-Bull will have an #exclusive report from someone in the know tomorrow.