(CBS) Dwyane Wade has re-signed with the Miami Heat, he announced on Twitter and Instagram on Tuesday afternoon.

[tweet https://twitter.com/DwyaneWade/statuses/489107075902226432 width=”340″]

Wade agreed to a two-year deal, according to the Associated Press, and he holds the player option for the second year. The money details haven’t been disclosed, but ESPN.com previously reported the first year of the deal is expected to start around $15 million.

In battling knee injuries, Wade played just 54 regular-season games last year and showed some decline, averaging 19 points, 4.5 rebounds and 4.7 assists. In June, he opted out of the final two years and $42 million left on his contract, so this new deal represents a pay cut.

Wade opted out in conjunction with stars LeBron James, who left to sign with the Cavaliers, and Chris Bosh, who has re-signed with the Heat for a max deal.