The deal is for a minimum of two years with a player option in the second year, sources told ESPN.com.
Miami had been considered the favorite to land Oden. Heat president Pat Riley has been personally recruiting Oden since before the end of the 2012-13 regular season. And, of course, Miami is coming off winning an NBA title with a lineup that includes LeBron James, Dwyane Wade and Chris Bosh, among others.
Source: ESPN.com