Dwyane Wade could be following LeBron James' lead.

Wade, who reportedly agreed to a five-year, $80 million max extension with the Miami Heat last week, is instead expected to sign a three-year deal with a player option for a fourth season, ESPN The Magazine's Ric Bucher reported Tuesday.

Earlier this week, sources told ESPN's Stephen A. Smith that James had agreed to a three-year extension worth approximately $60 million, with a player option for a fourth season (rather than what was reported earlier as James being able to opt out of a four-year deal).

On Monday, ESPN.com's Marc Stein reported that Carmelo Anthony was also considering signing a contract extension with the Denver Nuggets similar to the deal James intends to sign with Cleveland.

Wade is under contract for next season with the Heat, who will try to defend their first NBA championship. Wade has repeatedly said he wants to stay in Miami. Other than coach Pat Riley saying that getting Wade to agree to an extension is Miami's top offseason priority, the team has not commented on the negotiation process.

Wade was the fifth pick in the 2003 draft, and his rise to stardom was quick. He averaged a career-best 27.2 points during the regular season, making 49.5 percent of his shots, plus averaging 6.7 assists and 5.7 rebounds.

In the playoffs, he was even better, averaging 28.4 points -- and 34.7 in the NBA Finals, when he led the Heat past the Dallas Mavericks in six games.