Hardaway, a member of the U.S. Olympic team, said the contract was being shipped overnight for him to sign.
"I'm happy to get it over with," said Hardaway, whose one-year deal was believed to be worth $12 million, making him the league's highest-paid point guard. "I'm happy to be staying with the Miami Heat. I want to end my career there."
Hardaway, 34, had sought a multiyear deal earlier in negotiations, and last month, while practicing with the U.S. team, spoke out against the Heat's one-year offer.
"I made some people mad, and sometimes people make me mad," he said. "That's how it goes. But I'm not one of those people to hold my tongue. I'm going to say what I think."
With Hardaway having agreed to terms, the Miami appears set with its revitalized roster. Only Hardaway and center Alonzo Mourning figure to return from last season's starting lineup. They will be joined by forwards Brian Grant and Anthony Mason and shooting guard Eddie Jones, players acquired in two offseason trades.
Of that starting five, the biggest question mark is Hardaway, who has struggled through injuries the past two seasons, particularly hobbled in postseason losses to the New York Knicks.
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