Contract details of Heat roster players
The final contract details are in.
Here’s a look the specifics for all 17 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 the maximum allowable 10.5% annual raises thereafter. Each contract contains an Early Termination Option after the fourth season and a Player Option after the fifth season, effectively allowing the 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 added utilizing cap space. James will be 32 and Bosh will be 31 at the end of their respective 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 the maximum allowable 10.5% annual raises thereafter. His contract also contains an Early Termination Option after the fourth season and a Player Option after the fifth season, as well as a 15% trade bonus. The contract was signed utilizing cap space. 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 the maximum allowable 8.0% annual raises thereafter. His contract contains a Player Option after the fourth season, as well as a 15% trade bonus. The contract was signed utilizing cap space. 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 the maximum allowable 8.0% annual raises thereafter.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 $3.3 million this season. His contract contains a Player Option after the fourth season. The contract was signed utilizing Joel’s Bird rights. Anthony will be 32 at the end of his contract.
Zydrunas Ilgauskas, Eddie House and James Jones were both signed to two-year minimum contracts in July 2010, utilizing the Minimum Player Salary Exception. Ilgauskas and House will each earn $1,352,181 this season, while Jones will make $1,146,337. Each contract contains a Player Option prior to the second season. Each contract is fully guaranteed.
Shavlik Randolph was signed to a two-year minimum contract in July 2010, utilizing the Minimum Player Salary Exception. The first year is $250,000 guaranteed, becoming $500,000 guaranteed on opening night and fully guaranteed on January 10. The second year is fully unguaranteed, becoming fully guaranteed if not waived on or before June 30, 2011.
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 veteran of $854,389. At the end of the upcoming season, the Heat will hold full Bird rights on Chalmers and will have the ability to make him a restricted free agent if they so choose by issuing a $1,091,100 qualifying offer.
Carlos Arroyo, Juwan Howard and Jamaal Magloire were each signed to a one-year minimum salary contract in July 2010, utilizing the Minimum Player Salary Exception. 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 ten or more years. Each contract will cost the Heat just $854,389, with the league picking up the difference. At the end of the season, the Heat will hold full Bird rights to Magloire, Early Bird rights to Arroyo, and non-Bird rights to Howard. Each contract is fully guaranteed.
Kenny Hasbrouck was signed to a two-year minimum contract in July 2010, utilizing the Minimum Player Salary Exception. The first year is $250,000 guaranteed, becoming $500,000 guaranteed on opening night and fully guaranteed on December 15. The second year is fully unguaranteed, becoming fully guaranteed if not waived on or before July 25, 2011.
Dexter Pittman was signed to a three-year minimum salary contract in July 2010, utilizing cap space. The first season is fully guaranteed. The second season is fully unguaranteed, 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 unguaranteed if he is not waived on or before opening night. The final season is also fully un-guaranteed, becoming fully guaranteed if he is not waived on or before June 30, 2012. At the end of the contract, the Heat will hold full Bird rights to Pittman and will have the ability to make him a restricted free agent if they so choose by issuing an as yet undetermined qualifying offer.
Patrick Beverley was signed to a two-year minimum contract on Monday, utilizing the Minimum Player Salary Exception. The contract is reportedly fully guaranteed. It will pay him $473,604 this season and $788,872 in 2011-12.
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The Heat also holds draft rights to Roberto Duenas (a formality considering he is a retired 7′-4″ 35-year-old), George Banks (a formality considering he is a retired 37-year-old), Robert Dozier, Jarvis Varnado and Da’Sean Butler.
Butler will surely be given a contract in the weeks to come. That will bring the roster to 18.
The Heat will then begin the process of paring down to the 15-player regular season limit.
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.
@AJ
I agree with you.
I was forecasting Joel’s net worth back in May at about $2 million per season. The Heat elected to offer him a contract starting at $3.3 million; the difference justified by 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. He was a restricted free agent, meaning other teams would have had to have extended an offer sheet of at least two seasons in length and have kept it outstanding for seven days while the Heat was deciding whether to match.
“Mario Chalmers was signed to a three-year contract in July 2010″
Not sure this isn’t a typo. My guess is he signed his contract back in July 2008 and has one year remaining on the deal.
@Eric
Fixed. Thanks.
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.
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.
@ssenbonzakura
Not exactly, but I think you have the idea.
Anybody on the team can be waived; the team would just need to eat his contract. If it is a multi-year contract, the player’s salary and cap hit would be identical to how it is today except that the player would no longer be on the team. Any un-guaranteed seasons would not need to be paid, and there would be no cap hit for them.
Therefore, it would be most prudent to waive a player with an un-guaranteed or one-year minimum contract if need be. This is so that the cap hit will be both small (less than $1 million) and immediate (no lingering cap hits for future seasons).
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.
@Max
I think the decision to opt out early will rest squarely on the team’s performance. The ability to do so will keep the pressure on Riley and the Heat organization to keep delivering quality supporting pieces. In the end, I imagine that the Heat will remain competitive and the Big Three will remain in South Florida for their full terms.
The Big Three, at the end of their terms, will be 31, 32, and 34. While their most high-flying years may be behind them at that point, they will hardly be over the hill. The Celtics’ Big Three will enter the regular season at 33, 34, and 35, having competed in the NBA Finals the season prior. I see no reason why this team, with the reduced minutes that playing together will afford, can’t remain competitive through the term of their contracts and beyond.
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.
Thanks for the explanation Albert. That makes a lot of sense that all players with unguaranteed contracts after this season are not safe.
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.
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.