According to a Miami Herald report, Marion has decided not to opt out of the final year of his contract, which was his right. His agent and Heat president Pat Riley could not reach agreement on an extension, however, possibly setting Marion up for a lame duck season.
"I spoke to Shawn again tonight and we've decided that he's not going to opt out," agent Dan Fegan said, according to the newspaper. "It just wasn't in Shawn's best interest. That's all I can really say about it right now."
Marion has been working out in Chicago with Wade, who said he would like the duo to stay together. But he also realizes that Marion's expiring contract could be attractive to teams seeking cap relief.
"We worked out together today," Wade said, according to the Herald. "The main thing is, that's between Fegan and coach Riley. Only thing Shawn can do is let it happen. He can't worry about it too much. We're talking like we're on the team together. We're not talking like it won't happen. Right now, Shawn is a Miami Heat until further notice."
Marion averaged 15.4 points and 10.2 rebounds last season, which was split between the Heat and Phoenix Suns. He came to Miami, along with Marcus Banks, in the Feb. 6 deal that sent Shaquille O'Neal to Phoenix.
Marion enters this season in the last year of a deal that will pay him $17.8 million. The Herald reported that the 30-year-old is seeking a three-year extension at about $13 million per year, while Riley has shown a willingness to pay $10 million per season.
Wade, who is recovering from knee and shoulder injuries, was named to the Olympic team on Monday.