The Miami Heat are finalizing terms on a five-year, $118 million contract to re-sign free agent big man Chris Bosh, reports Yahoo Sports Adrian Wojnarowski. Bosh was in advanced discussions with the Houston Rockets, but will re-sign in Miami despite LeBron James leaving for the Cleveland Cavaliers.
The Rockets made a big push for Bosh following meetings with Carmelo Anthony and made trades to create the necessary cap space to offer a maximum contract to a free agent this summer. Houston shed the salaries of Omer Asik and Jeremy Lin, but now has missed on one of its top targets.
Bosh was expected to take a significant pay cut to continue the "Big Three" era in Miami, but will now be paid the maximum contract reserved for James if he had returned. Miami has also made verbal agreements with Danny Granger and Josh McRoberts.
Miami is expected to move swiftly to re-sign Dwyane Wade, keeping two of their championship leaders in South Beach as they reload after James' departure.