Riley hopeful that he will be able to keep roster together and get them to re-sign.
Miami Heat star Dwyane Wade has informed the organisation that he will opt out of his contract and thereby follow suit after LeBron James did so last week.
In addition, agent Henry Thomas, who also represents Udonis Haslem and Chris Bosh, has revealed that he has spoken to team president Pat Riley and informed him that all three will opt out and enter free agency on midnight Monday.
The decisions of James, Wade, Bosh and Haslem mean that the Heat will now have an NBA-record $55m in salary cap room, but Riley’s first priority is to persuade his stars that their future is in Miami and get them to re-sign.
While the moves don’t necessarily mean that all four will move on, it could be a strategy for the franchise to lower their salaries in order to bring in another big name to help them win back the NBA crown after losing out to the San Antonio Spurs last season.
“Dwyane has been the cornerstone of our organization for over a decade, and we hope he remains a part of the HEAT family for life,” Riley said in a statement.
“Udonis has been the heartbeat of this team for 11 years. He has sacrificed countless times to make this organization successful, and he is the epitome of what this organization stands for. We look forward to meeting with Dwyane and Udonis and their agent in the coming days to discuss our future together.”
Wade will opt out of two years and $41.8m while Bosh will opt out of two years and $42.6m, with Haslem completing the trend by not exercising his player option of $4.6m for next year.
It is understood that Bosh will head into free agency willing to accept a pay cut, while Haslem wants a multi-year deal that will assure him more guaranteed money.
If Wade and James are willing to also take pay-cuts, then the Heat could potentially move to add another player with Toronto Raptors point guard Kyle Lowry believed to be on their list while Norris Cole could be moved after they drafted Shabazz Napier.
James, Wade and Bosh have collaborated previously over the years, and while they have already held a meeting prior to opting out of their contracts, they will likely speak again in order to decide what their next moves will be.