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Update: Wade will opt out of Heat contract, Bosh undecided but "on the verge"

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More cap space will be freed with the news that Wade will opt out of the final two years of their contract. While Bosh reportedly remains undecided, he is leaning towards also opting out.

Brian Spurlock-USA TODAY Sports

The good news for the Miami Heat keeps coming in with the latest from AP writer Tim Reynolds reporting that Dwyane Wade will indeed opt out of the final two years of the contract he signed in 2010 that owed him about $42 million. ESPN's Brian Windhorst is reporting that Chris Bosh is also opting out.

It is clear that Pat Riley and the Heat front office are getting their wish with maximum roster flexibility assured now that LeBron James, Chris Andersen ("Birdman") and Udonis Haslem have all reportedly opted out as well. This combined with the fact that Chris Bosh has made it clear in the past that he wants to remain in Miami, along with the Big 3's not-so-secret meeting earlier in the week in South Beach to hash out their free agency deals, have made this offseason work out exactly as planned for Riley.

UPDATE: Bosh has apparently not made a decision yet, which may be why Pat Riley did not mention him in today's press release but did specifically talk about Wade and Haslem.