Bosh Scenario to Miami Apparently Premature
The first step of Pat Riley’s mater rebuilding plan is apparently not as complete as initially reported.
On Wednesday, Miami Herald radio host and ESPN contributor Dan LeBatard reported that the Miami Heat and Toronto Raptors had an agreement in place in which the Heat would acquire the services of forward Chris Bosh. Under the terms of the agreement, the Raptors were said to have agreed to a sign-and-trade of Bosh to the Heat, in exchange for Michael Beasley, Mario Chalmers and Joel Anthony.
But multiple league sources have now disputed any such deal exists. In fact, a high-level Raptors source has suggested the team has no interest in Beasley or Chalmers. Toronto would, however, consider a $16.6 million trade exception (which would be produced if the Raptors were to trade Bosh for nobody in return) and the return of its first-round pick from Miami in the 2009 Jermaine O’Neal trade.
The trade exception could be subsequently used by the Raptors to acquire any player(s) from any team(s) via one or a series of trades, whose salaries equal a combined total of $16.7 million (the value of the trade exception + $100,000). Any unutilized portion of the trade exception would expire after one year. Trade exceptions are created when teams that are over the salary cap trade away exactly one player, and receive back any number of players in return whose combined salaries are less than that traded away. The amount of the exception is equal to the positive difference. They cannot be used to sign free agents; they can only be used only to acquire existing contracts from other teams.
The market for Beasley remains uncertain. Speculation for some time had been that there is limited interest from around the league in the troubled second-year forward. The reaction from Toronto seems consistent with that notion. However, Pat Riley has suggested that as many as 22 teams have contacted the Heat with potential interest. The Minnesota Timberwolves, who enter free agency with as much as $16.4 million of available cap space, are among the teams suggested to have an interest.