Sources: Chris Bosh agrees to $118 million deal to remain with Heat

Miami Heat's Chris Bosh smiles as he warms up for game 1 of the Eastern Conference finals NBA basketball playoff series against the Indiana Pacers Sunday, May 18, 2014, in Indianapolis. (AP Photo/AJ Mast)

Chris Bosh has reached agreement on a five-year, $118 million contract to re-sign with the Miami Heat, league sources told Yahoo Sports.

After LeBron James announced he was leaving the Heat to return to the Cleveland Cavaliers, Bosh strongly considered a four-year, $88 million offer to sign with the Houston Rockets. He will get an additional guaranteed $30 million by re-signing with Miami.

The Heat are pushing to keep Dwyane Wade and Udonis Haslem on shorter deals, sources told Yahoo Sports. Bosh, Wade and Haslem all opted out of their contracts to give the Heat cap flexibility to improve their roster after James became a free agent.

The Heat are engaged with free agents Trevor Ariza and Luol Deng for the starting opening at small forward created by James' departure.

The Rockets traded Jeremy Lin and a 2015 first-round draft pick earlier Friday to clear cap space for Bosh's offer. Houston is expected to match the Dallas Mavericks' three-year, $46 million offer sheet for Chandler Parsons.