Shaq, Heat reportedly close on new deal
Miami working on five-year contract for superstar center
 Brian Bahr / Getty Images | Heat center Shaquille O'Neal currently has a $30 million option for next season, but he is expected to opt out of that. |
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The Miami Heat and superstar center Shaquille O'Neal are close to a deal on an extension, the Miami Herald reported Tuesday, citing no sources.
The Heat is trying to re-work the star center's deal to create some salary-cap flexibility, the newspaper said. O'Neal currently has an option that would pay him $30 million next season, but he is expected to opt out of the deal.
Shaq couldn't sign any new contract until July 22, when the NBA's moratorium on signings is lifted.
The new deal for O'Neal might be as long as five years, the Herald reported, keeping him with the Heat until he's 38. Miami president Pat Riley has previously said a five-year deal is within reason, the newspaper said.
The Heat want to turn their attention to free-agent forward Udonis Haslem next, the newspaper reported. Haslem has received interest from the Cleveland Cavaliers, but Miami wants to bring him back.
''We're still in discussions, and hopefully we can make a decision fairly shortly,'' Haslem's agent, Jason Levien, said, the Herald reported.
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