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Dwyane Wade reaches new $5 million divorce settlement with ex-wife

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Siovaughn Funches-Wade will receive a lump sum payment in a new settlement with the Miami Heat superstar that was finalized on Monday.

Mike Ehrmann

Dwyane Wade's ongoing saga after years of fighting with his ex-high school sweetheart Siovaughn Funches-Wade may have finally reached a permanent resolution after the two parties agreed to a new divorce settlement with a judge approving it on Monday, July 21.

The Chicago Sun-Times reports the new deal calls for a $5 million lump sum payment for his ex-wife that also includes a "non-disparage" agreement in which either party cannot make derogatory remarks about the other.

That would include behavior such as Siovaughn's rather embarrassing public protest that took place just days ago outside of a Chicago's Daley Center in which her mother and sister held up signs as Wade's ex-wife made a scene. One of the signs read, 'NBA Miami Heat star, mother of his children on the streets'.

"Dwyane Wade is offering to pay only some of what he owes me if I sign an agreement never again to discuss what happened in our marriage or with our children. I refuse," she told the Chicago Sun-Times. "I finally told Carr I just wanted to end the case and keep my freedom and my voice. I told him I didn't want anything from Dwyane. The judge demanded the trial continue. I couldn't believe it."

Wade's agent Jim Pritikin soon afterwards released a statement to the press:

Dwyane Wade and his ex-wife Siohvaughn Funches have reached a financial settlement. The agreement was submitted in court last Tuesday, July 16 prior to Ms. Funches' recent unfounded and erratic public display outside the courthouse this past Friday. Dwyane Wade has made several requests over the years to settle this matter, despite Ms. Funches having 16 different attorneys and 2 arrests throughout this process. Mr. Wade has provided a very generous settlement to Ms. Funches to continue to live a wonderful lifestyle for the rest of her life.

Despite false allegations by Ms. Funches claiming to be "homeless" and "destitute," Dwyane Wade has maintained over the years financial support to his ex-wife by providing her with income over $25,000 on a monthly basis, timely paid for her home mortgage, maintenance and security at the house, 4 cars, insurance, taxes and all of her attorney fees throughout this process. Ms. Funches has made a mockery of homelessness which is a serious and personal issue for Mr. Wade as his mother was homeless for a period of time when he was a child.

Dwyane Wade was awarded sole custody of their sons by the court in 2011. The safety and well-being of his children are his main priority. Due to Ms. Funches' current unstable mental state, her visitation will be determined by the court. Mr. Wade continues to hope that one day he will have a civil relationship with his ex-wife for the sake of their sons.

The temporary divorce settlement had called for Wade to fork over the above-mentioned $25,000 a month as well as $10,000 each month for travel and living expenses, along with a $1 million lump sum payment back in 2010.

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