Pre-draft workouts have begun for the Heat, and for several teams across the league.
The Heat has four picks in the upcoming draft – the 18th pick in the first round, and the 41st, 42nd and 48th picks in the second round.
Pat Riley already has it on record that he doesn’t believe in building through the draft. Of course, that’s because he’s had an abysmal track record with it. Since having Dwyane Wade fall into his lap in the first round of the 2003 draft, only four other players he’s selected have ever seen the NBA hardwood for the Heat – Dorell Wright, Wayne Simien, Michael Beasley (excluding five captivating minutes from the great Jerome Beasley; who?). The very next players taken in those drafts were Jameer Nelson, David Lee and O.J. Mayo.
The stakes are higher in this draft, particularly as it relates to the first round selection. First round draft picks are paid based upon a predetermined salary scale. The contracts run four years in length, with the first two years guaranteed and the following two at the option of the team.
Unsigned first round picks are included in team salary immediately upon their selection in the draft. For the 18th pick in the upcoming draft, the amount will be $1,237,500. Therefore, as soon as the Heat makes its selection, its cap space will be reduced by $1,237,500. That’s a big gamble, considering it eliminates the possibility of a Wade-James-Bosh trio.
Some of us may be under the misconception that once a first round draft pick is drafted, there is nothing a team can do (short of a trade) to shed his salary. That’s actually untrue. Unsigned first round draft picks can be renounced at any time, just like any other unsigned free agent, in order to recover the cap space.
The ramifications for the player, however, can be devastating. A first round draft pick has something sacred – a two-year, multi-million dollar guaranteed salary. If such a player were renounced, he would lose that security, as the salary scale would no longer apply to him. In these instances, the player typically ends up signing a contract similar to that of a second round draft pick – a one-year minimum contract with a second year at the team’s option. Consequently, it is rarely done. Since the institution of the salary scale for first round draft picks, I can only recall it happening once. In 1996, rather than give their first round pick Travis Knight (29th overall) a multi-year guaranteed deal, the Chicago Bulls renounced him, making him a free agent. Read more…