The Heat signed first-round pick Dwyane Wade on Tuesday, further depleting its cap space and emphasizing that its remaining free-agent cash is riding on the outcome of the Lamar Odom situation.

As expected, Wade, the 6-foot-4 standout junior guard from Marquette University who was selected fifth overall in the NBA Draft, was signed to the rookie slotted maximum three-year, $8.5-million contract with a team option on a fourth year and the right of refusal on a fifth year.

"We feel like, for us, we made the best pick in the draft," Heat coach Pat Riley said in a statement. "Dwyane not only is a great addition to our youth movement, but will also complement our veterans very well."

With the recent additions of front-court players Samaki Walker, John Wallace, Udonis Haslem and Loren Woods, Wade becomes the 10th Heat player signed for the upcoming season.

The Heat announced that it again renounced free-agent guard Travis Best and centers Sean Marks, Ken Johnson and Vladimir Stepania, meaning that they can only be re-signed by the Heat at the veteran's minimum if Odom ends up in Miami.

The Heat did not renounce power forward Malik Allen, who has yet to accept the team's $810,000 qualifying offer.

If the Clippers match the six-year, $65-million Heat offer sheet, Miami would most likely un-renounce its free agents for the second time this summer, which would allow the players to re-sign for whatever is agreed upon. If that were to occur, it would enhance the chances of Stepania returning.

"I'm not surprised we got it done," said Henry Thomas, Wade's agent. "Once the offer was made to Odom, there was no reason to hold this offer."