Photo by AP Photo/Lynne Sladky

Bam Adebayo is reportedly ready to sign a five-year contract extension worth $163M, per Shams Charania. Miami had until Dec. 21 to strike a deal with Adebayo or else it would have to wait until the next summer to negotiate.

The Miami Heat legend Dwyane Wade took to Twitter to react to the news, saying Adebayo earned his extension with the organization.

Last season, the Heat reached the NBA Finals with the four-year center being vital for his team during the series against the Milwaukee Bucks and the Boston Celtics.

Adebayo and Wade were teammates in Miami for two seasons. The high-flying center made some great strides the previous season averaging 15.2 points, 10.2 rebounds and 5.1 assists per contest.