Joel to Decline His Player Option
As expected, center Joel Anthony has elected to forgo the 2010/11 player option he held with the Heat. Anthony faces a midnight Thursday deadline on his decision, with his inaction making him a free agent. The announcement cannot be made official until that time.
The decision frees up an additional $885,120 in spending money for Pat Riley’s ball club. The Heat now has just two players with guaranteed contracts, Michael Beasley and Mario Chalmers, and a total guaranteed payroll (which assumes James Jones will be bought out by June 30) of $7,672,629. With the cap projected at $56.1 million, Miami figures to have some $48,427,371 of available room.
The decision to opt out makes Anthony slightly less expensive to the Heat if the team hopes to retain him. With Anthony having played just three NBA seasons, the Heat can choose to make him a restricted free agent, which would afford the right to match any outside offers. To do so, Miami would be required to extend a qualifying offer of $1,060,120, which would reduce the team’s available room. However, the qualifying offer can be rescinded at any time prior to July 23, at the team’s sole discretion. If no qualifying offer is extended, or if it rescinded prior to July 23, Anthony would count $854,389 against the 2010/11 salary cap.
Independent of whether or not a qualifying offer is extended, the Heat would continue to retain Joel’s Bird rights until he is officially renounced.
Despite the decision by Joel to test the free agent waters, the Heat still has the clear inside track to retain him. In fact, the decision may have been mutual between player and team, and could pave the wave for Anthony to receive a substantial raise at little cost to the Heat.
For a list of all the Heat’s available options with Joel, click here.