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Contract Details of Heat Roster Players

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. 

Udonis Haslem was signed to a five-year $20,300,000 contract in July 2010. He will make $3,500,000 this season, with $367,500 raises every year thereafter (i.e., equal to the 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 signed utilizing cap space. Haslem will be 34 at the end of his contract.

Joel Anthony was re-signed to a five-year, $18,250,000 contract in July 2010. He will make $3,300,000 this season, with annual raises of $300,000 for next season, $150,000 for 2012-13, $50,000 for 2013-14, and none for 2013-14. His contract contains a Player Option after the fourth season. The contract was signed utilizing Anthony’s Bird rights. Anthony will be 32 at the end of his contract

Zydrunas Ilgauskas and Eddie House were each signed to two-year minimum salary contracts in July 2010. Minimum salary contract amounts are established based on tenure. Each is a 10+-year N.B.A. veteran, and will thus $1,352,181 this season. Each has a Player Option for next season at $1,399,507. The contracts were signed utilizing the Minimum Player Salary Exception.

James Jones was signed to a two-year minimum salary contract in July 2010. As a seven-year N.B.A. veteran, Jones will earn $1,146,337 this season. His contract has a Player Option for next season at $1,265,976. The contract was signed utilizing the Minimum Player Salary Exception.

Shavlik Randolph was re-signed to a two-year minimum contract in July 2010. As a five-year N.B.A. veteran, Randolph will earn $992,680 this season and $1,106,941 next season. The first year of his contract is $250,000 guaranteed, increasing to $500,000 guaranteed on opening night, and becoming fully guaranteed on January 10. The second year is fully non-guaranteed, becoming fully guaranteed if not waived on or before June 30, 2011. The contract was signed utilizing the Minimum Player Salary Exception.

Carlos ArroyoJuwan Howard and Jamaal Magloire were each signed to a one-year minimum salary contract in July 2010. Arroyo will make $1,223,166 based on his eight-year tenure, while Howard and Magloire will each make $1,352,181 based on their tenures of 10+ years. Each contract will cost the Heat just $854,389, with the league picking up the difference. Each contract is fully guaranteed. The contracts were all signed utilizing the Minimum Player Salary Exception.

Mario Chalmers was signed to a three-year contract in July 2008, which has one year remaining at the minimum salary for a two-year N.B.A. veteran of $854,389. Miami will hold full Bird rights on Chalmers at the end of the season, which would enable the Heat to exceed the salary cap to him for any amount up to a maximum salary. Further, because he will have been in the league for just three seasons, the Heat will have the ability to make him a restricted free agent if they so choose, by issuing a $1,091,100 qualifying offer, which will allow the Heat to match any outside offers he gets from other teams next summer. The contract was originally signed using cap space.

Kenny Hasbrouck was re-signed to a two-year minimum salary contract in July 2010. As a one-year N.B.A. veteran, Hasbrouck will earn $762,195 this season and $884,293 next season. The first year of his contract is $250,000 guaranteed, increasing to $500,000 guaranteed on opening night, and becoming fully guaranteed on December 15. The second year is fully non-guaranteed, becoming fully guaranteed if not waived on or before July 25, 2011. The contract was signed utilizing the Minimum Player Salary Exception.

Dexter Pittman was signed to a three-year minimum salary contract in July 2010. As a rookie, Pittman will earn $473,604 this season, $788,872 next season, and an amount that has yet to be determined (and will be subject to the terms of the new Collective Bargaining Agreement to come) for the 2012-13 season. The first season of the contract is fully guaranteed. The second season is fully non-guaranteed, becoming 10% guaranteed if he is not waived on or before June 30, 2011, becoming 80% guaranteed he is if not waived on or before July 25, 2011, and becoming fully guaranteed if he is not waived on or before opening night. The final season is also fully non-guaranteed, becoming fully guaranteed if he is not waived on or before June 30, 2012. The contract was signed utilizing cap space.

Patrick Beverley was signed to a two-year minimum salary contract in August 2010. As a rookie, Beverley will earned $473,604 this season and $788,872 next season. The contract is fully guaranteed. The contract was signed utilizing the Minimum Player Salary Exception.

Da’Sean Butler was signed to a two-year minimum salary contract in August 2010. As a rookie, Butler will earned $473,604 this season and $788,872 next season. The first year of his contract is $300,000 guaranteed. The second year is fully non-guaranteed, becoming 50% guaranteed if not waived before June 20, 2011, and becoming fully guaranteed if not waived before opening night. The contract was signed utilizing the Minimum Player Salary Exception.

 

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The roster now stands at 18. The Heat will need to cut it down to the 15-player regular season limit by opening night.

Note: The Heat also holds draft rights to Roberto Duenas (a retired 7′-4″ 35-year-old center) and George Banks (a retired 6’7″37-year-old forward) as well as Robert Dozier and Jarvis Varnado.

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  1. AJ
    August 31st, 2010 at 09:44 | #1

    Doesn’t joel’s contract seem incredibly rich? Was there ever indication that other teams were ready to offer him any where near that much money? I want his agent.

    • August 31st, 2010 at 10:01 | #2

      @AJ
      I agree with you. Anthony is realistically only worth a minimum salary contract. The Heat elected to offer him a contract starting at $3.3 million. They justified the difference by noting his hard work and dedication.

      The more questionable aspect of the contract, in my humble opinion, is the duration. Five years feels mighty long for a low-post presence who has had his struggles both offensively and on the glass.

      There was no competition for Joel’s services. Thus, there was no reason to give him such a big contract. Dedication is wonderful. But business is business.

  2. Tomi
    August 31st, 2010 at 10:10 | #3

    Wow, I didn’t know we’re holding the draft rights of these Roberto Duenas and George Banks guys.

    I don’t understand why Juwan Howard was signed. I think he’s the most likely to be waived should we get a Tmac or a Dampier.

  3. ssenbonzakura
    August 31st, 2010 at 10:57 | #4

    So basically all the guys on minimum contracts can be waived at any time and we can eat that 826,000 if we ever come to the point where we could add an impact player? I’m happy this is a make or break season for Chalmers, he’s been handed everything and hasnt been what I was hoping for.

  4. August 31st, 2010 at 11:03 | #5

    @ssenbonzakura
    Not exactly, but I think you have the idea.

    Anybody on the team can be waived at any time. The team would just need to pay out whatever portion of the waived contract is guaranteed. The cap hit(s) would also reflect the guarantee.

    Thus, it would be financially prudent to select players with the least guaranteed money, particularly those which have limited or no guaranteed money beyond this season. Bear in mind that while the Heat will not be luxury tax payers this season, they will almost certainly be luxury tax payers next season and beyond.

  5. Max
    August 31st, 2010 at 15:40 | #6

    albert, i have 2 questions. 1- is it likely the big 3 opts out early? I know they have the option but idk if they would utilize it or not. and 2- do u see this team looking anything like the 07 team in their later years because a lot of players are signed long term and theyre all going to b old at the end.

  6. August 31st, 2010 at 16:40 | #7

    @Max

    I do think that both James and Bosh will opt out of their contracts early, which is a big reason why I was so opposed to trading away four first round draft picks for the chance to acquire them via sign-and-trade (and thus offer what I believe will become an irrelevant sixth season).

    The reasons for doing so will depend upon the team’s performance.

    If the team is not living up to expectations, they will likely each choose to test free agency. The opt-out provisions thus ensure the Heat won’t become complacent about putting a winning team on the floor.

    If the team is meeting or exceeding expectations, they will likely choose to opt out in order to re-sign with the Heat on new, long-term contracts.

    I don’t see age being a problem for either James or Bosh at any point through the ends of their contracts. Wade, however, is a different story. He has a very physical and aggressive style of play that has and will continue to take its toll on his body. He doesn’t have the shooting touch on which to fall back as his athleticism declines in the years to come. He’s also been quite injury-prone those far into his career, and injuries tend to accelerate as players age. He is thus at increased risk of breaking down and/or losing effectiveness toward the latter stages of his contract.

  7. AJ
    August 31st, 2010 at 22:07 | #8

    Just reading about Beverly…man, that guy creates steals! Over 2 a game in like 28mins/game. Playing tough D and creating those steals on this Heat team (who with DW and LBJ can easily turn those steals into dunks on the other end) could go a very long way.

  8. ssenbonzakura
    September 1st, 2010 at 01:01 | #9

    Thanks for the explanation Albert. That makes a lot of sense that all players with unguaranteed contracts after this season are not safe.

  9. ssenbonzakura
    September 1st, 2010 at 01:08 | #10

    I like Beverly too but I’d rather have Hansbrouck who is a very good shooter. Stealing would be nice and we would have a lot of highlight dunks every game, but teams are going to play a lot of zone against us. we would need shooters to discourage teams from doing that.

  10. Andrew Maltbie
    June 25th, 2012 at 08:49 | #11

    This is silly. This is the time to hit the accelerator. Forget Ray Allen, Unless you’re really going to cry if he goes to Chicago, (Rip Hamilton is probably better now anyway).
    — PICK UP STEVE NASH at all costs! He is a 2 time league MVP who’s won everything but the title. He loves to run fast. You have to defend him beyond the 3 point line. He will open the lanes and take care of the ball. This will lighten the load for Lebron and everyone else. He can help Cole’s development, he’s got 2-3 yrs. left, he will likely take a discount to win.
    – If you were playing the Heat, whom would you double team? This is probably the best move you can make without tearing up the team. This team can play even faster.You think the media wouldn’t just eat his up?
    Sign him!

    Miller and Howard are likely gone. There is no excuse.

    P.S. Try to find another decent big for your 4-5 spot.

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