Chris Bosh is set to have his contract with Miami Heat expire at the end of this season.
The Heat’s decision to let Bosh go comes after three years of service and has been viewed as a major blow to the team.
The Heat will begin a search for a new coach in March.
The NBA has said that Bosh’s final two seasons with the Heat will count for $11 million, but that is a significant amount in today’s market.
It also leaves the Heat with about $8 million in cap space.
Bosh is currently in his third season with the team, but the Heat have never had a star player on their roster.
His production fell off considerably in 2016-17, and it wasn’t until the end the season that Bosh finally began to recapture his former All-Star form.
Miami signed Bosh to a five-year, $94 million deal in 2013, and the two sides were reportedly in a free-agent negotiations for the past few years.
Bosh was traded to the Boston Celtics in the offseason of 2015, and he has been a key part of that team since.