Heat officially waive Chris Bosh, will retire number

The Miami Heat announced they have officially waived power forward Chris Bosh. In a move of pure class, the Heat have also decided to retire Bosh's jersey.

"He is, without a doubt, one of the greatest players in the history of the franchise," said team president Pat Riley. "The No. 1 will never be worn by another player and we can't wait to someday hang his jersey in the rafters."

By waiving the 33-year-old, the Heat will enter the NBA's official free agency July 6 with roughly $34 million in available cap space. Removing Bosh from the roster saves roughly $25 million for each of the next two years.

Bosh will, however, receive the remaining $52.1 million on his contract "with insurance paying a substantial chunk of that," according to Barry Jackson of the Miami Herald.

The former Toronto Raptor signed with the Heat in 2010 helping initiate their "Big Three" movement alongside LeBron James and Dwyane Wade. The trio would go on to win back-to-back NBA championships in 2012 and 2013.

Unfortunately, Bosh's significant health concerns came to light in 2015. A blood clotting diagnosis midway through the season cut his campaign short after just 44 games.

He would go on to play 53 games the following year, but again saw his season stifled by the diagnosis. This time his health concern was deemed "career-ending."

Bosh's most recent NBA action came February 2, 2016 against the Sacramento Kings.