The agent for Miami Heat stars Chris Bosh and Dwyane Wade refuted a report on Tuesday that his clients were prepared to take significant pay cuts, which would free up some salary for general manager Pat Riley to improve the roster.

Earlier Tuesday, The (Portland) Oregonian reported that Bosh was expected to sign a five-year deal worth $11 million for the first year of the deal while Wade would sign a four-year deal that starts at $12 million for the first season.

Wade and Bosh each were set to earn more than $20 million this upcoming season and $40 million total next season. By opting out of their contracts for less money but for more years, the two stars would have provided Riley about $12 million to use on upgrading the roster.

But agent Henry Thomas said the report was inaccurate and that both players will be paid more. If that is the case, the Heat will wind up with quite a bit less than the reported $12 million.

LeBron James is demanding a maximum contract, which should pay the superstar in the neighborhood of $22 million.

The Heat is expected to target free agent guard Kyle Lowry of Toronto or free agent center Marcin Gortat of Washington.