Miami Heat general manager Pat Riley and salary cap expert Andy Elisburg have been widely praised not only for their ability to recruit LeBron James, Chris Bosh and Mike Miller to join Dwyane Wade and Udonis Haslem in South Florida but also for their ability to structure their contracts to fit within the confines of a $58.044 million salary cap.
Wade, however, has reason to be less than thrilled.
Wade, James and Bosh were all eligible to receive maximum contracts with a starting salary of $16,568,908. However, in order to accommodate the contracts of Miller and Haslem, each took less. The first year salaries in the contracts of James and Bosh have been finalized at $14,500,000, while the first year salary for Wade has been finalized at $14,200,000.
Wade’s $300,000 shortfall will wind up costing him $2,272,500 over the life of his deal.
Wade took less than his Big Three cohorts in order to accommodate Haslem. But part or even all of that sacrifice was unnecessary. The Heat had the ability to create the necessary room to allow Wade’s contract to match that of James and Bosh, with room to spare, through the utilization of some creative maneuvering.
Understanding how this would have been possible necessitates an understanding of certain league rules. Read more…