Heat sign first-round pick G Wade

Updated: August 19, 2003, 5:36 PM ET

MIAMI - The Miami Heat on Tuesday signed guard Dwyane Wade, the fifth overall pick in June's draft.

Terms were not disclosed, but Wade is eligible for a three-year deal worth at least $7.066 million under the NBA's collective bargaining agreement. The Heat also would hold an option for the 2006-07 season at $3.084 million.

"I'm really excited to have signed my first NBA contract today," Wade said. "It's nice to now concentrate more about playing than the buisness side of things."

The 6-4 Wade turned in a pair of stellar seasons at Marquette, leading the Golden Eagles to their first Final Four since 1977 last year. He was named the Conference USA Player of the Year and was a consensus All-American after averaging 21.5 points and 6.3 rebounds.

Wade had 21 games in which he scored at least 20 points, including a memorable triple-double against Kentucky in the NCAA Tournament with 29 points, 11 rebounds and 11 assists.

This story is from ESPN.com's automated news wire. Wire index