Miami ? Dwyane Wade and the Miami Heat have reportedly agreed on a five-year contract extension.

The South Florida Sun-Sentinel reported Tuesday that Wade’s agent, Henry Thomas, said he expects Wade to sign the extension, for five years and between $75 million and $85 million, on July 12.

“We’re on the same page,” Thomas told the paper.

Wade is eligible for a deal worth about $80 million; the exact value of the extension, much like the one agreed to by Carmelo Anthony with Denver and the one offered to LeBron James in Cleveland, will not be known until the salary cap for the 2007-08 season is set.

New contracts cannot be signed before July 12. Wade is expected to report to practice with the U.S. world championships team in Las Vegas on July 19.

There is no real urgency on either side. The former Marquette standout is under contract for next season with the Heat, who will defend their first NBA championship. Without the extension, Wade would become a free agent after the 2007-08 season.

But the Heat almost certainly are not going to let that happen. Thomas said earlier that he and the Heat are engaged in “very positive” talks.

“Both sides will work towards a signed extension prior to Dwyane leaving for practice,” Thomas told ESPN.com.

Other than coach Pat Riley saying that getting Wade to agree to an extension is Miami’s top offseason priority, the team has not commented on the negotiation process.

Wade averaged a career-best 27.2 points during the regular season, making 49.5 percent of his shots, with 6.7 assists and 5.7 rebounds.