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More on Udonis Haslem’s Contract

Per Ira Winderman of the South-Florida Sun Sentinel:

Udonis Haslem will be back with the Miami Heat next season.

The veteran power forward confirmed his return Monday afternoon to the Sun Sentinel in a text message that read: “Turned down full mid level from Dallas and Denver. See u next season.”

Instead of packages from other teams that could have reached $34 million over five seasons, Haslem, 30, is expected to sign off on a four-year Heat package at about a third of that total, although details still are being sorted out.

With the Michael Beasley trade official, it would now appear that the contracts of both Udonis and college roommate Mike Miller can be finalized.

Of note is the final quoted paragraph above, in which it is suggested that Haslem is expected to accept a package worth approximately one-third that of a full Mid-Level Exception deal. I would be shocked if this were true.

A full mid-level deal would pay Haslem exactly $33,437,000 over five seasons. One-third of that value is just $11,145,667. Spread over four years, that implies a starting salary of $2,487,872. I have previously suggested an alternative which could pay UD around $20 million over five seasons (60% of such an MLE deal), which seems much more palatable to all parties involved. Time will tell.

In any case, Miller and Haslem will split 8.5 million 2010-11 dollars. Each would be eligible to receive 8.0% annual, non-compounding raises for up to five total seasons.

This is not the first time Udonis has provided a hometown discount. Only days into the July 2005 negotiation period with the Heat, Udonis agreed to a five-year, $30.25 million mid-level contract. After completing the negotiations, Jason Levien, Haslem’s agent at the time, estimated that he left around $10 million on the table in order to meet Haslem’s hometown wishes.

These are rare and altruistic acts for a player in the me-first world of professional sport.

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  1. Hal
    July 12th, 2010 at 18:38 | #1

    It will be a great day if and when the Heat raise Udonis Haslem’s jersey to the rafters. I will be at that game for sure. Udonis makes me proud of being from Miami.

  2. Brian T
    July 12th, 2010 at 18:42 | #2

    UD has sacrificed more then anyone in the Heat organization and he continues to show his love for his home town. He continues to amaze me.

  3. July 12th, 2010 at 18:45 | #3

    Udonis Haslem has sacrificed an estimated $18 – $23 million over the course of his career to play for the city and team he loves. A true class act.

  4. Gary
    July 12th, 2010 at 18:54 | #4

    UD has always been a class act. Last year, after a tough decision was made for him, he gave 100 percent. I have met him several times and he is what you see. A great guy willing to go into battle for you, his teammates and his city. Now who is going to be our center?

  5. Hal
    July 12th, 2010 at 19:45 | #5

    I have to believe Joel Anthony will fit in nicely with this unit, assuming we re-sign him. Bosh will love Joel’s grittiness. And Wade won’t have to worry about Joel’s suspect hands becuase with Bosh and LeBron at the rim, Joel’s touches on offense will be limited to putbacks. We will still need a couple more bangers to match up with the giants in L.A. and Boston and the king giant in Orlando. Varnado and Pittman are unlikely to be the answer this season I wouldn’t think. But who knows?

  6. CB
    July 12th, 2010 at 22:28 | #6

    Not to break up the love fest (bc trust me, i love him as much as you guys), but Mike Miller sacrificed the most relatively of anyone on this roster for this contract. He wouldve been a classic Knicks 5yr / 50m contract. Another note that i havent seen really addressed, Lebron/Wade are going to average 30-32 mins / game during the regular season. Its going to be difficult to get their minutes UP, when we are beating teams by 20+ in the 3rd quarters. I love all the media doubters, the same clows that thought Wade was a Chicago lock and Riley couldnt nab Bosh/Lebron. I really can’t see how this whole thing wont work. We are going to have one more big signing that no one is thinking about over next week or so…

    • July 12th, 2010 at 22:52 | #7

      @CB
      I completely agree with you regarding the minutes. I actually address it here.

      It’s funny that you mention Miller’s sacrifices as well. I have a post in queue regarding that very topic (just waiting for definitive word on his contract).

  7. Remote Heat fan
    July 12th, 2010 at 23:07 | #8

    @CB

    Who is this big signing?

    Jason Williams?
    Big Z?

  8. lucas fb
    July 13th, 2010 at 00:28 | #9

    ud is the greaest guy on nba. so im glad for having him on the team.
    miller left more money on the table, its ud second paycut.

    gotta thank god,for florida no tax and prety sunny city of miami.caise of werent for that, the miller and ud thing would have not happened.

    i also think we ll sign around 2 or 3 good players yet!!!

    dooling,luke,house,head, jwill,arroyo(for last) for pg
    raja,rasual,herman for wingers
    brad,kwame,big z at center

    and u still have the likes of tolliver,von wafer,wally,tim thomas,jarvis,gerald green,luther head, boone…

  9. Brian T
    July 13th, 2010 at 02:23 | #10

    UD, Miller, and Raja in my opinion are a done deal!

    We need a big body to play along side Bosh! I would love to see a good passing big like Brad that can also spread the floor. He fits our system perfectly! Big Z would do just fine as well.

  10. July 13th, 2010 at 07:31 | #11

    yeah Udonis Haslem is the definition of class, loyalty and warrior. every championship team needs that and imo is very underrated… i think his a lot more tougher than guys like odom or gasol, hes proven he can outmuscle them even though he’s a short pf

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