While the members of the Miami Heat are celebrating their playoff series win over the Milwaukee Bucks, one member of the Miami Heat may soon not have much to celebrate. That's because news related to the divorce of NBA star Dwayne Wade recently became public despite Wade's attempts to keep information related to his divorce and child custody dispute private.
When Wade and his ex-wife Siohvaughn Funches-Wade split, the couple's prenuptial agreement stipulated that Siohvaughn receive a lump sum cash payment of $1 million. In addition to this lump sum, however, court documents show that Wade also currently pays his ex-wife spousal support in the amount of $25,000 each month.
Wade and his ex-wife were married for a total of five years. The two were high school sweethearts and have two children together. Wade was awarded sole custody of his two sons who live with the NBA star in Miami. In recent months, conflict seems to be brewing between Wade and his ex-wife over the couple's child custody and visitation arrangements.
A trial is scheduled to begin in July at which time the marital assets of the couple will be settled and distributed. Wade is currently a member of the successful Miami Heat NBA franchise with whom he has a reported $107 million dollars per year contract.
While the couple did have a prenuptial agreement, the terms of that agreement are not known. It's possible, therefore that Siohvaughn will profit nicely from the couple's split. Court documents show that she is currently seeking 50 percent of her ex-husband's earnings during the time the couple was married.
Source: Gossip Extra, "Dwayne Wade's Divorce Costs Him $25,000-a-Month, Plus," Jose Lambiet, April 24, 2013