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Heat officially re-sign Wade; complete sign-and-trades for LeBron and Bosh

Shortly after last night's festivities the Heat released this official statement: The Miami HEAT announced today that they have re-signed guard Dwyane Wade and acquired forwards LeBron James and Chris Bosh from Cleveland and Toronto in exchange for draft picks. Wade, a six-time NBA All-Star, has appeared in 471 regular season games (463 starts) in his seven-year NBA career, all with the HEAT, and averaged 25.4 points, 6.6 assists, 4.9 rebounds, 1.83 steals, 0.98 blocks and 37.6 minutes while shooting 48.2 percent from the field, 28.9 percent from three-point range and 77.0 percent from the foul line. Wade, the 2006 NBA Finals and 2010 NBA All-Star MVP, is the HEAT’s all-time leader in points (11,967), field goals made (4,184), field goals attempted (8,678), free throws made (3,353), free throws attempted (4,352), double-figure scoring efforts (454), assists (3,126), steals (862), starts and minutes played (17,717). He also ranks among the HEAT’s all-time leaders in blocked shots (3rd, 461), double-doubles (5th, 94), games played (6th, 471), field goal percentage (7th, .482), three-point field goals attempted (7th, 851), total rebounds (7th, 2,298), defensive rebounds (7th, 1,704), offensive rebounds (9th, 594), three-point field goals made (9th, 246) and free throw percentage (11th, .770). James, a two-time NBA MVP, has appeared in 548 regular season games (547 starts) and averaged 27.8 points, 7.0 rebounds, 7.0 assists, 1.74 steals and 40.3 minutes while shooting 47.5 percent from the field, 32.9 percent from three-point range and 74.2 percent from the foul line. The six-time NBA All-Star is Cleveland’s franchise leader in points (15,251), field goals made (5,415), field goals attempted (11,403), free throws made (3,650), free throws attempted (4,917) and steals (955). The two-time NBA All-Star MVP has posted five seasons of at least 2,000 points, 500 rebounds and 500 assists, becoming only the second player in NBA history to achieve the feat (Oscar Robinson had six). Additionally, he finished the 2009-10 season as the only active NBA player to score at least 2,000 points in six consecutive seasons. Bosh, a five-time NBA All-Star, has appeared in 509 regular season games (497 starts) and averaged 20.2 points, 9.4 rebounds, 2.2 assists, 1.18 blocks and 37.0 minutes while shooting 49.2 percent from the field and 79.6 percent from the foul line. The seven-year NBA veteran is the only player in Toronto Raptor history to surpass the 10,000-point mark and is also the team’s franchise leader in points (10,275), rebounds (4,776), free throws made (2,997), blocks (600), minutes (19,813) games started (497) and double-doubles (239). He finished as the only player to finish in the Top 10 in both points and rebounds during the 2009-10 season. It's safe to say that the Miami Heat won't be hosting many draft parties in the future. The Heat send the Cleveland Cavaliers two first round picks that will be forwarded between the years of 2013 and 2017 as well as two future second round picks that had been recently acquired from the New Orleans Hornets and Oklahoma City Thunder. The Cavs also have the right to swap first round picks with Miami in 2012. Toronto receives their own first round pick that had been originally sent in the Jermaine O'Neal-Shawn Marion trade as well as next year's first round pick from the Heat. Ira Winderman of the Sun-Sentinel has the details of the new contracts:
It was learned Friday that James, Wade and Bosh took significantly less than the maximum allowable $16.6 million 2010-11 starting salary on their new contracts, each now starting in the $14.5 million range, shaving about $15 million off their maximum totals. Also, each can terminate their six-year contracts after four seasons, with a right to opt out after the fifth. The new collective-bargaining agreement, however, could make the financial sting too punitive to exit the deals early.
Although James didn't want to discuss the financial details at Friday's press conference, he did insist that they had not been giving "max" deals though they did receive the maximum amount of years allowed thanks to the sign and trade deals. This will allow the Heat to fill out the rest of the roster with more money to spend instead of being handicapped with only veteran minimum contracts to offer.