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Contract Details of Heat Roster Players

August 31st, 2010 11 comments

The final contract details are in.

Here’s a look the specifics for all 18 players currently under contract to the Heat:

LeBron James and Chris Bosh were each signed-and-traded to a six-year, $109,837,500 contract in July 2010. They will each make $14,500,000 this season, with $1,522,500 raises every year thereafter (i.e., equal to maximum allowable 10.5% of this season’s salary). Each contract contains an Early Termination Option after the fourth season and a Player Option after the fifth season, effectively allowing each player to re-enter free agency prior to both the fifth and sixth seasons of his deal. Each contract also contains a 15% trade bonus. The contracts were each signed utilizing Bird rights, and then acquired by the Heat with cap  room. James and Bosh will be 32 and 31, respectively, at the end of their contracts.

Dwyane Wade was re-signed to a six-year, $107,565,000 contract in July 2010. He will make $14,200,000 this season, with $1,491,000 raises every year thereafter (i.e., equal to maximum allowable 10.5% of this season’s salary). His contract contains an Early Termination Option after the fourth season and a Player Option after the fifth season, effectively allowing him to re-enter free agency prior to both the fifth and sixth seasons of his deal. The contract also contains a 15% trade bonus. The contract was signed utilizing Wade’s Bird rights. Wade will be 34 at the end of his contract.

Mike Miller was signed to a five-year, $29,000,000 contract in July 2010. He will make $5,000,000 this season, with $525,000 raises every year thereafter (i.e., equal to maximum allowable 8.0% of this season’s salary). His contract contains a Player Option after the fourth season, as well as a 15% trade bonus. The  contract was signing utilizing cap room. Miller will be 35 at the end of his contract.  Read more…

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Heat signs Da’Sean Butler to a much anticipated two-year deal

August 30th, 2010 No comments

ButlerThe Miami Heat signed rookie Da’Sean Butler to a two-year, $1.3 million contract on Monday. Given the rules of the collective bargaining agreement, despite Butler’s ongoing rehabilitation from his gruesome left knee injury and his resultant uncertain NBA future, the contract was anticipated for quite some time.

Butler’s minimum salary contract will pay him $473,604 and $788,872, respectively, for this season and next. The first season is $300,000 guaranteed. The second season is fully unguaranteed, becoming 50% guaranteed if he is not waived before June 20, 2011, and becoming fully guaranteed if he is not waived before opening night of next season.

Butler will be competing for the 15th and final roster spot with Patrick Beverley (who received a shocking, two-year, $1.3 million fully-guaranteed contract of this own), Kenny Hasbrouck (who received a $250,000 partial guarantee), and Shavlik Randolph (who received a $250,000 partial guarantee).

Butler is still not healthy. He figures not to be for quite a while. Doctors originally thought Butler could be cleared for some basketball activity by the end of September. But the 6-foot-7 swingman had a setback with his surgically repaired knee in July, leading to a second surgery that pushed the estimated timeframe back to the beginning of the NBA season. Butler is now expected to return to game action by February.

“I couldn’t tell you when I’ll be back,” says Butler. “I’ve been trying to find out from my doctors and trainers when would be the perfect time and I get the same answer every time. Everybody’s body is different, so when you’re better, you’re better. You’ll know when you’re better and we’ll know you’re better. So, they will let me know when I’m good to go and I’m fine to do something. All I can do is just wait it out.”

Despite the setbacks, Butler seemingly has the inside track on the final roster spot. Riley has said that he considered Butler to be the 21st best player in the 2010 NBA Draft. He seems intent on keeping Butler through his rehabilitation.

Butler played four seasons at the University of West Virginia, finishing his career with 107 career wins, the most in school history. As a senior he was named First Team All-Big East, averaging a team-high 17.2 points, 6.2 rebounds and 3.1 assists in 38 games.

For his career Butler started in 110 of 146 games for the Mountaineers, averaging 14.4 points, 5.5 rebounds, 1.9 assists and 1.06 steals while shooting .448 from the field, .353 from three-point range and .732 from the foul line. He scored 2,095 points during his career, ranking third in school history behind Jerry West and Hot Rod Hundley. Butler also ranks among school leaders in career double-figure scoring games (1st), field goals (3rd), three-pointers (4th), free throws (5th), rebounds (11th) and steals (12th).

Butler was originally selected by the Heat with the 42nd pick in the 2010 draft. The Heat was very attracted to his versatility and all-court game. It remains to be seen whether he can retain his already questionable explosiveness and athleticism after rehabilitating from one of the most severe types of injuries an NBA player can sustain.

It is certainly nice to have the benevolent Butler as an official part of the Miami Heat organization.

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Heat signs Patrick Beverley to a curious two-year deal

August 3rd, 2010 21 comments

Patrick Beverley signed a two-year minimum salary contract with the Heat on Monday

The Miami Heat signed Patrick Beverley to a two-year, $1.3 million fully-guaranteed contract on Monday. That much we know.

What we don’t know is why. Why did the Heat sign him? Why did they sign him so soon? And why did they fully guarantee his contract?

Despite the guarantee, Beverley is still far from a lock to make the regular season roster.

The Heat currently has 14 veterans under guaranteed contract. Teams can have as many as 20 players under contract during the offseason, but must pare down to 15 by the start of the regular season.

Beverley figures to compete with Kenny Hasbrouck, Shavlik Randolph, and Da’Sean Butler for the 15th and final spot. Hasbrouck and Randolph have each signed a $250,000 partially guaranteed two-year minimum salary contract, while Butler should be signed shortlyDespite the ACL tear in his left knee, Butler is currently thought to have the inside track.

Beverley was initially selected with the 42nd overall pick by the Los Angeles Lakers in the 2009 NBA Draft. His draft rights were immediately traded to the Heat in exchange for a 2011 second-round pick and cash considerations.

If Beverley should fail to make the opening day roster, the Heat would lose his draft rights. Pat Riley will have wasted the $1,500,000 (and the 2011 second round pick) it took to acquire his draft rights, the $473,604 he is guaranteed for this season, the $788,872 he is guaranteed for next season, and the $788,872 in tax consequences his contract will almost certainly cause next season. That’s a total of $3,551,348. Wasted.

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 So why did the Heat sign him?  Read more…

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