Home > Commentary > Heat Trades Daequan Cook and Pick No. 18 to OKC for Pick No. 32

Heat Trades Daequan Cook and Pick No. 18 to OKC for Pick No. 32

Done in Miami after three disappointing seasons

The Miami Heat has traded out of the first round of tomorrow’s draft, sending its No. 18 pick and guard Daequan Cook to the Oklahoma City Thunder for the No. 32 overall pick in the second round.

Pat Riley has publicly acknowledged his preference to build through free agency and on the eve of the draft he has held true to his word, opting instead for the added cap space this trade creates.

The move corrects an error made by Riley back in October, when he violated his self-imposed plan to maximize the team’s cap space for the coming off-season and instead chose to pick up Cook’s team option for next season – to the surprise of many, including Daequan. Cook has since regressed, in his fourth and final season under his rookie scale contract.

For Oklahoma City, this deal makes a great deal of sense. The Thunder receives a quality shooter and a top 20 pick for the 32nd pick. And something tells me general manager Sam Presti isn’t done swapping. Now OKC owns three first rounders – Nos. 18, 21 and 26 – and could use them as a springboard to move up a little more.

For Miami, this is a straight salary dump. The Heat not only jettisons the $2,169,857 on Cook’s contract for next season, but also the $1,237,500 salary it would have been obligated to pay the No. 18 selection in Thursday’s draft. In total, the Heat saves $3,407,357.

Still, one has to question this move. If the Heat is successful in its bid to add three max contract free agents, draft picks will be a vital means to surround them with talent. Miami may have been better served utilizing the pick on Eric Bledsoe, if he is to be available, or swapping the pick for a 2011 first rounder if not. Cook’s $2.1 million salary could presumably have been rather easily be shed, if the need arose, by offering a potential suitor up to the $3.0 million limit to take him. How many unprofitable smaller-market teams could realistically pass up the opportunity to add backcourt depth in the form of a young and developing Three-Point Shootout champion not only free of charge, but at a $830k profit?

Miami does, however, receive something of value from Oklahoma City. Second round picks are not assured guaranteed contracts, and therefore do not immediately count against the cap. The Heat could utilize its entire cap space elsewhere, and thereafter circle back to such picks utilizing the minimum salary exception. Having a pick at the top of the second round could provide a quality talent at no cost against the cap.

The Heat now holds four second round picks in tomorrow’s draft – the 32nd, 41st, 42nd and 48th. It is certainly possible Riley could use some combination to trade right back up into the first round.

Miami now has salary commitments to four players for next season – Michael Beasley, Mario Chalmers, James Jones and Joel Anthony. But Beasley is expected to be traded shortly. Jones is expected to be waived by June 30 in order for the Heat to take advantage of his buyout, which would pay him $1,856,000 next season. And Anthony is expected to opt out of his minimum salary contract, which he must do by tomorrow.

If all goes as expected, Miami will enter the off-season with total salary commitments of $2,710,389 and only Chalmers under contract. That leaves the Heat with $53,389,611 of room, assuming a $56.1 million cap. Perhaps the best way to think about it is as follows: the team now has enough room for two maximum contract free agents (making $16,658,908 each, as Wade, James and Bosh would be eligible for), with an additional $15,989,360 left over for a third player.

Categories: Commentary Tags: ,
  1. Logan
    June 23rd, 2010 at 18:55 | #1

    Albert, great job with this site. I’ve become an avid reader. Quick question- with this move and presumbly other moves on the way, How can the heat man a team with 3 maxes and 9 others? How would that even be possible?

    • June 23rd, 2010 at 20:09 | #2

      The Heat can now has committed salaries of $8,557,749 next season, with three players under contract. If Joel opts out of his contract, that number falls to $7,672,629. If the Heat then trades away Michael Beasley for nothing in return, that number falls to $2,710,389. Adding two max contracts, at $16,568,908 each, would bring the total to $35,848,205. But the Heat would need to add nine roster charges, or $4,262,436, bringing total salary to $40,110,641. That means it could offer a third player $16,462,963, which is $105,945 short of a maximum contract.

      I know this gets confusing. Feel free to ask follow up questions.

  2. Heat-Struck
    June 23rd, 2010 at 19:05 | #3

    $3 mil dollar savings could be a huge difference maker between getting Mike Miller at SF or Rudy Gay at SF! I like this move, since I wasn’t too happy with our options at the #18 pick. Now, if we can get rid of James Jones… say along with Beasley, then our cap space would be RIDICULOUS!

  3. Heat-Struck
    June 23rd, 2010 at 19:12 | #4

    @Logan

    With what we currently have on the books still… I think each max player would have to take a little bit less for about $15 mil.

    • June 23rd, 2010 at 20:33 | #5

      With what we currently have on the book, each max player would have to take $14,742,341.

  4. Logan
    June 23rd, 2010 at 19:24 | #6

    Heat-struck, thanks for mentioning this site (so nice to talk Heat without the name calling). Ideally, I would like to resign Wade..sign Bosh..max out Gay (if Memphis matches we could always get salmons, M. Miller.etc)..sign S. Blake and have Beasely come off the bench. I was hoping that we would draft one of the 7 footers (but oh well).

  5. Vincent
    June 23rd, 2010 at 19:25 | #7

    Do the Heat receive TPE in this Deal…

    • June 23rd, 2010 at 19:51 | #8

      Yes, the Heat will receive a trade exception in the amount of $1,362,120. However, it will be lost to the Heat if the team chooses to utilize cap space.

  6. Heat-Struck
    June 23rd, 2010 at 19:32 | #9

    @Logan

    No problem! Someone else mentioned this site to me and I was blown away on how much better this blog is! First, the blog author is WAAAY better than Ira. Second, the blog format is a lot easier to read (no more dumb replies getting stuck under the original post). And third, like you said, Ira’s blog is poisoned with malcontents.

    Keep in mind we still have the #32 pick, which is the perfect spot to pick up Jerome Jordan safely. He seems like a really good 7 foot center who could contribute right away. If we had 3 max players for SG, SF and PF, Jerome Jordan at Center would be perfect!

    I’m really stoked that the Heat are making moves, and I can’t wait to see what happens until tomorrow and July 1st! Go Heat!!!

    @Vincent

    What does TPE stand for?

    • June 23rd, 2010 at 19:54 | #10

      TPE stands for “Traded Player Exception.” Vincent is referring to the exception which allows team that are over the salary cap to complete trades.

      The rules regarding trade exceptions are as follows. When a team that is over the salary cap trades away one player and receives back less salary in return, it receives a trade exception for the positive amount of the difference in salaries. The trade exception can be used to acquire any player(s) via trade, for up to the value of the trade exception + $100,000, for up to one year.

  7. Leif
    June 23rd, 2010 at 19:41 | #11

    @Albert – How does our cap situation now look on the spreadsheet? I like this move because at 32 somebody is going to slip. we also can package a couple 2nd rounders (we have 4) to move up a bit in the 2nd round and maybe nab two guys at the top of the 2nd round.

    • June 23rd, 2010 at 20:17 | #12

      I promise to update all my spreadsheets tonight. I apologize for any delays, as I am in a million places at once (trying to update posts, answer everybody’s questions, and answer questions not affiliated with this site). Keep the questions coming, though, if you have them. I am happy to answer.

  8. Heat-Struck
    June 23rd, 2010 at 19:55 | #13

    @Albert

    Nice explanation! Thanks!

  9. juan
    June 23rd, 2010 at 20:03 | #14

    After waiting for what it seems like forever it’s all happening now.

  10. Vincent
    June 23rd, 2010 at 20:11 | #15

    It’ s seem HHeat are at about 44 mill in free cap space ..

    it will still take about 50 mil to sign WADE<LBJ<BOSH if that's Pat plan..

    I believe Amare is in the bag,IMO

    joe seem NY bound
    beside which is better

    Joe vs Salmon, and Miller
    Joe vs Miller , Haslem,Blake
    Joe vs offering Gay and Haslem
    Joe vs using MLE and resigning Haslem ,Q,DW1
    I like this one ^^^^^

  11. juan
    June 23rd, 2010 at 20:12 | #16

    As it stands is the Heat in a position to sign Wade, Bosh/Amare, Gay?

    • June 23rd, 2010 at 20:21 | #17

      As it stands, no.

      The Heat can sign Wade and Bosh, with $11,089,207 left over. I am projecting Gay’s max contract at $13,135,250.

  12. Vincent
    June 23rd, 2010 at 20:53 | #18

    ^^^ yep
    That”s why getting rid of Beasley will still leave MH
    short of Max for a Bosh ,Wade ,LBJ,Amare,JJ combination

    11 + Beasley (4.9 -.4)=15.5
    I ‘m not sure, but what’s Joe Max number

    Bench will still be very important
    Arroyo
    Q,DW1
    Kurt Thomas
    eddie house
    Aaron Gray
    the return of Anthony Carter
    Tracy Mcgrady
    Luther Head
    Craig Smith (maybe)
    Sean “weedhead” Williams

    Damn that”s Sucks
    Pat needs to Sign and TRADE FOR AMARE /Bosh
    resign our our free agengy and use the MLE on Miller

    • June 23rd, 2010 at 20:58 | #19

      I am projecting Joe Johnson’s max salary at $15,762,300.

      By the way, all key player max salaries are on my Salary Cap tab. Just click MaxContracts.

  13. Curtis
    June 23rd, 2010 at 21:15 | #20

    Hey Albert, once again great site thanks for always updating so quickly. Take this for what it’s worth but it’s certainty interesting. I don’t know if you’re aware with the forums at RealGM.Com but their is a man who posts on the Heat board their once in awhile with little tidbits of news. This guy has a friend in the Heat organization he has broken such things as the Jermaine O’Neal trade to the Heat as well as Zo’s return to the Heat in 06. He claims the Heat are preparing a “1,2,3 marketing campaign” What might this mean? Well Amar’e Stoudemire is #1, Joe Johnson #2, Wade #3. If the Heat sign and trade Beasley to the Suns for Stat they could make this happen. Stat’s first year salary would be: 17,197,241, Wade: 16,568,908, Johnson: 15,762,300. With Chalmers and cap holds that leaves the Heat: $61,162 under the cap. In other words, this trade makes that insiders words seem prophetic. If the Heat are indeed going for that threesome it works perfectly financially. Interesting….

    • June 23rd, 2010 at 21:49 | #21

      I am calculating $72,330 under a $56.1 million cap. But yes, certainly possible.

      I would suggest that such a campaign from the Heat would be inherently risky prior to the three actually executing contracts. Should one ultimately not choose the Heat, players Riley would be targeting as replacements could potentially have their pride hurt in being considered second options. But this is only my opinion.

  14. Jon
    June 23rd, 2010 at 21:34 | #22

    @Curtis
    Curtis, would you please post the link to whatever “1,2,3, marketing campaign” you’re talking about.

  15. Curtis
    June 23rd, 2010 at 21:55 | #23

    http://forums.realgm.com/boards/viewtopic.php?f=20&t=1020178

    1st and forth post. This guy is legit from my experience.

  16. Logan
    June 23rd, 2010 at 22:26 | #24

    @Curtis
    If that does happen, isn/t Stat, JJ and possibly retaining Q make us the Suns of a few years back? Subbing Wade for Nash.

  17. juan
    June 23rd, 2010 at 22:30 | #25

    that team was a blast@Logan

  18. Curtis
    June 23rd, 2010 at 23:31 | #26

    Johnson is a way better player now then he was that year. That team made it to the Western Conference Finals. I would rate Wade now better then Nash at that point. Those three are terrific pieces to build around.

  19. Brian T
    June 24th, 2010 at 00:19 | #27

    i still think for the money maxing out wade,bron and lee would be best! with rio, energizer bunny joel and SuperCoolBeas we cant go wrong. Thats skills, offense, defense and a young core to build off of. add a few vets like Steve blake and raja and we have ourselves a squad! just my 2 cents.

  20. Heat-Struck
    June 24th, 2010 at 00:27 | #28

    @Logan

    Being the Suns would be a very very good thing! Mostly because the Suns would be the best team in the Eastern Conference, if they were in the Eastern Conference. I would be extremely happy with Wade/Joe Johnson/Amare! Lebron James and Chris Bosh will be losing to us for the next 5 years, and kicking themselves in the head for not deciding to join our dynasty! Things are really starting to look good for us!

    It’s really good to see this blog coming alive with commentors! I wonder how many of these guys posting came over from Ira’s blog? I’ve been linking Albert’s posts in each of Ira’s blogs.

  21. lucas fb
    June 24th, 2010 at 00:49 | #29

    but if we use it in a s&t?

    btw i hated the move. he wouldn’t have had to do it if he didn’t stupidly (even Cook tells that to the media) pick up Cook’s option. That was a no brainer.

    I would only do that trade if it was to move JJ’s lousy, toxic contract. Even if the second rounder we would get was,lets say, a 35th.

    If it wasn’t for Riley’s stupid moves, especially regarding Cook and JJ, we would have even more free cap space. The only way to move JJ now would be to package him with Beasley together, so damn.

    Riley could had this team:
    bledsoe
    wade
    gay/joe j
    bosh/amare/boozer/lee
    jerome j…

    plus beas as the great scoring punch from the bench. And maybe Dorell also as a spark from the bench.

    If they lose Jerome in the draft, I will be even madder than now!!!
    @Albert

    • June 24th, 2010 at 01:03 | #30

      I was not particularly fond of the trade either. I believe Daequan’s $2.2 million next season salary could have been moved for up to $3.0 million in cash (and perhaps a second round pick for the trouble), without surrendering the first round pick so hastily. This is only my opinion.

  22. Logan
    June 24th, 2010 at 00:50 | #31

    @Heat-Struck
    The Suns were a fun team to watch, but lack of defense not HEAT culture. I would like Bosh over STAT and Gay over JJ. The maxes on my choices are cheaper then the ex-suns, but either way we should be alot better than we have been these last few years. Can’t wait!!!

  23. lucas fb
    June 24th, 2010 at 00:53 | #32

    @Albert
    i would try for gay even for 11+m.and hope and pray memphis doesnt match it!!!

    • June 24th, 2010 at 01:07 | #33

      The logistics of doing so could prove difficult. Remember that putting forth an offer sheet to Gay would tie up the Heat’s cap space for up to seven days.

  24. lucas fb
    June 24th, 2010 at 00:58 | #34

    i am afraid we are making our competition for the years to come (oklahoma city) stronger… and too soon.

    we will regret this move. we will regret moving beas. and we will regret the other nonsensical moves pat made that i mentioned earlier.

  25. lucas fb
    June 24th, 2010 at 01:13 | #35

    we could have had avery also at pg (not a pure 1)

    i was supportive of pat, but these cook and jj deals he made are really dumb. the 32th pick, though, is a good pick.

    we may have been able to get the 34/35th by sending out jj’s toxic contract instead of cook’s. and we could still then have gotten jerome.

    when are we going to know for sure where draft players will be? when is deadline for trading drafted players?

    • June 24th, 2010 at 01:23 | #36

      The rights to drafted players can be traded for as long as the team holds them.

      I will make a detailed post on this in the days to come, so you can be aware of all of the team’s options.

  26. lucas fb
    June 24th, 2010 at 01:16 | #37

    i completely agreed with u!!!
    @Albert

  27. lucas fb
    June 24th, 2010 at 03:53 | #38

    what i mean for trading draft players was that we can buy a pick or move up in the draft,paying some money that ll not go against the cap,only the salary.
    so what i mean s after the draft(if so for how long)can we pay the diference of one pick and the distance for the one u wanna get in the deal?

    how it works,pat sending another team to pick for him?

    • June 24th, 2010 at 04:06 | #39

      Apologies. I am still not sure what you mean. But let me offer this in response. The Heat can offer up to $3 million in exchange for a draft pick, or in exchange for the rights to a player drafted by another team. The $3 million would have no impact on either team’s position against the cap.

  28. H
    June 26th, 2010 at 09:42 | #40

    @Albert

    But do you really think that a $16 million player would not come here over $100,000? Keeping Chalmers may be questionable (because he has largely stunk up the joint), but doesn’t seem so on the basis of salary alone.

    • June 26th, 2010 at 13:47 | #41

      What I believe your response fails to account for its that it is not the $16 million player that is affected by the Chalmers decision. It is the complementary player, such as Steve Blake, that loses out.

  1. No trackbacks yet.


five + = 13