Miami Heat star Dwyane Wade has reiterated that he believes the team will do better next season and compete.

Wade signed a new one-year deal with the organisation on Thursday, and insists that they are in a good position for the new campaign.

"We're going to be better. I know that," he said, ESPN reports.

"Knock on wood, you stay healthy, I think we're a good team. I like our chances."

Goran Dragic and Luol Deng will also return next season as well as Chris Bosh who missed half of last campaign.