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Chris Bosh opts out, becomes free agent

The Heat now have $55 million in cap space.

Andy Lyons

Chris Bosh has decided to opt out of his contract with the Miami Heat, leaving $20.6 million in guaranteed salary on the table, according to Brian Windhorst of ESPN.

NBA Free Agency

Bosh has been with the Heat since the beginning of the 2010-11 season, coming over from the Toronto Raptors as a free agent along with LeBron James. Miami has reached the NBA Finals all four years Bosh and James have been on the team, winning the title in 2012 and 2013. Last season, Bosh averaged 32 minutes per night, which was the lowest total of his career. Bosh's scoring average of 16.2 points per game was also his lowest average since his rookie season.

Bosh has certainly played a large role in Miami's success while simultaneously being the third banana behind James and Dwyane Wade. With both James and Wade also opting out of their contracts, the Heat now have about $55 million in cap space to rework the roster.

In the Finals earlier this month, the San Antonio Spurs hammered the Heat by using a 10-man rotation of shooters and big men around Tony Parker, Manu Ginobili and Tim Duncan. Miami barely ran seven-deep, with Udonis Haslem seeing important minutes despite having his best years long behind him.

At 30 years old, Bosh is likely going to be looking for one more significant payday before he enters the twilight of his career.