More on Udonis Haslem’s Contract
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.