It’s still time for celebration in Miami, the Heat just having won its second NBA title in as many seasons. The champagne is still flowing, the parade is still upcoming, and the sheer joy of the moment is still bringing smiles to all of our faces.
For the front office, however, it’s time to get to work. There are tough decisions to be made.
Toughest of all may be the case of Mike Miller.
Miller is a truly wonderful guy. He’s classy. He’s humble. He’s a family man with a touching story. He’s a great teammate. He’s a great player. He can hit a barrage of clutch three-pointers to clinch NBA titles. He can hit them without shoes on. When he’s right, he can be the second most valuable player on the team.
But the Heat is in a difficult financial position and, as such, his tenure on the team is in doubt.
Was he right? Were his actions premature? What are the alternatives for Miller and the Heat? Read more…
The clock is ticking. Within a week, the first decisions for next season need to be made.
By June 29, there will have to be resolution with the four players on the roster with options for the 2013-14 season.
Of those decisions, only one is at the Heat’s discretion, the third and final year on Mario Chalmers’ contract. It is a $4 million team option. It almost assuredly will be picked up, a bargain price for an NBA starting point guard.
Three other options are out of the Heat’s control – player options held by guard Ray Allen and forwards James Jones and Rashard Lewis.
Allen has been silent on the issue of his $3.2 million option. But having hit the most iconic shot of the 2013 playoffs – and perhaps the single biggest field goal in Miami Heat history – resulting in his second NBA title, he is surely rejuvenated and excited to return. Lewis and Jones have each already expressed their excitement in returning with varying levels of certainty.
This is a happy team. It is a back-to-back NBA champion. It is the prohibitive favorite to get a third consecutive. Why would anyone choose to leave?
All four are likely to return.
But, for Lewis and Jones – who are playing at or near the minimum salary – there is a deeper story here. With the Heat in a financial crunch and attempting to keep its core together, the Heat and salary cap guru Andy Elisburg need to get creative. They have a golden opportunity to save as much as $3.1 million next season, and they should pounce. Read more…
The Miami Heat, who have now won their third NBA championship in team history, get to take home the Larry O’Brien trophy for the second time in as many seasons. The team also gets to take home a little pocket change: $3,811,608 in playoff bonus money.
In the NBA, there is no championship prize money per se – just a $13 million “Player Playoff Pool” that is funded by playoff gate receipts and is then allocated to playoff teams. The amount earned escalates as one’s team advances in the playoffs.
As a team, the Heat earned $2,302,232 from the pool for winning the championship, compared to the $1,525,515 the San Antonio Spurs received as runner-up.
Earlier, the Heat earned $374,947 for finishing with the best record in the NBA, another $328,078 for finishing with the best record in the Eastern Conference, $194,016 for participating in the first round of the playoffs, $230,853 for participating in the Conference Semifinals, and $381,482 for participating in the Conference Finals.
Their validation came in the form of a second consecutive championship celebration that began here late Thursday night and probably won’t end for days. And as the final seconds ticked off the game clock inside AmericanAirlines Arena, LeBron James, Dwyane Wade and Chris Bosh reveled in the moment. They earned it!
For Miami’s Big Three, the team’s 95-88 victory over San Antonio in Game 7 of the N.B.A. Finals completes a journey several years in the making. The Finals disappointment against Dallas in 2011, unforeseen setbacks and relentless criticism – much of it misguided – no longer mattered. They accomplished what they set out to do: win multiple N.B.A. titles as teammates.
That singular pursuit is what prompted the incomparable James to walk away from the team that drafted him, incurring the wrath of fans in his home state. It’s why Wade, one of the game’s greatest ever superstars, willingly stepped aside to let basketball’s best player lead the Heat. It’s why Bosh allowed himself to be denigrated from franchise player to disrespected third wheel.
The payoff was surely worth it.
In winning consecutive N.B.A. championships, the Heat joins an exclusive club that includes only the Boston Celtics, Chicago Bulls, Detroit Pistons, Houston Rockets and the Los Angeles Lakers. The list of teams that have made at least three straight Finals appearances in doing so is even shorter: the Celtics, Bulls, Pistons and Lakers. Read more…
The NBA’s salary cap and luxury tax threshold aren’t expected to rise as much as the league initially projected, a development that could have significant implications for the Miami Heat.
Estimates that were provided by the league to NBA teams on May 31 have the salary cap rising to just $58.5 million and the tax threshold to just $71.6 million for the 2013-14 season, both slight increases from the current levels but considerably lower than what had been projected. The league had previously guided to $60 million and $73 million, respectively, at the beginning of the season. The numbers will be finalized only after the NBA does a full season audit during the first week in July.
The revised projections suggest that revenues for the 2012-13 season are falling short of expectations and, as a result, player salaries are correspondingly too high, triggering escrow adjustments to the following season’s salary cap and tax threshold. Read more…
Update (11/17/13): The bone bruises in Dwyane Wade’s right knee have now fully healed. While he has continuing issues with both knees, his most significant troubles are with his left knee, from which he had a portion of his lateral meniscus removed in March 2002.
We’ve been through this before – a 30+ year-old Dwyane Wade sustaining injury, and thus being unable to perform at the highest of levels at the most critical of times. Last year, it caused perhaps the worst postseason of his career. This year, it is lowering even that standard.
Last time around, it was further structural damage to an already surgically repaired left knee, which required the joint to be drained of excess fluid in May and then an arthroscopic procedure to clean out the area in July. This time around, it’s a bone bruise in the right knee. Three, in fact.
The term “bone bruise” perhaps makes the injury seem less serious than it is. People often think of a bruise as a black-and-blue mark on the skin, which is often nothing more than a minor nuisance. But bones can also be bruised. In fact, bone bruises can be quite severe and extremely painful. They’re not all that uncommon in basketball circles. And the knee is particularly susceptible. Read more…
There has been widespread speculation in NBA circles over the past year or so about the fate of the Miami Heat for next season and beyond. Articles that emphatically declare the inevitable financially-motivated implosion of Pat Riley’s brainchild have run rampant all across the internet universe.
The cost of doing business in the NBA has increased dramatically under the provisions of the new Collective Bargaining Agreement. The new rules are designed specifically to financially cripple high-spending teams like the Heat, in an attempt to promote competitive balance among all of the league’s 30 teams.
It’s working. Miami’s costs are soaring. But while predictions that call for the Big Three to be broken up to alleviate the hemorrhaging in the years to come are wildly premature and not very likely if things continue to run smoothly on the court, just how much Arison may be willing to spend to surround them depends largely on future luxury tax thresholds. Read more…
Apparently, just as the Heat were touting the virtues of a “position-less” basketball philosophy which had just won them their first N.B.A. title of the Big Three era, Heat president Pat Riley was working “feverishly” to end its existence.
John Denton of OrlandoMagic.com reported earlier today that the Heat tried to acquire then Philadelphia 76ers center Nikola Vucevic last summer, just before he was sent to the Orlando Magic in the Dwight Howard trade last August.
Vucevic is a beast, which was fairly evident even before he exploded this season in Orlando. Doug Collins wasn’t playing him in Philly, because, well, he’s Doug Collins and he does things like that, but Vucevic showed a lot in his limited time last season – enough to convince Riley to seek him out.
It was vintage Pat Riley.
Only this time, he wasn’t able to execute upon his vision. And that may very well have been his fault.
Vucevic has given the Heat fits thus far this season, having twice gone for at least 20 points and 20 rebounds. The second year player could have been putting up those numbers for the Heat, instead of against them, if Riley had been willing to part with either Mario Chalmers or Norris Cole, along with a future first round draft pick.
The Heat declined.
The report of such clandestine trade discussions with the Sixers are a rather interesting development when considering that the Heat had at the time just executed a separate trade with the Sixers, one that sent the draft rights of Arnett Moultrie to Philly in exchange for the draft rights of Justin Hamilton and a 2013 lottery-protected first round pick.
We don’t know – and we will never know – what the Heat actually offered for Vucevic. As much as we’d like some transparency into the negotiations, we’ll never get it. Read more…
The trade deadline has now passed. The waiver deadline for playoff eligibility has now passed.
What should the Heat do?
Keep it. For now, anyway. Save some money. It is, after all, a nice insurance policy.
Then deploy it at the end of the regular season. Here’s why.
Both the Miami Heat and the Cleveland Cavaliers have reportedly had a strong interest in signing former Portland Trail Blazer center Greg Oden to a multi-year contract this season. The reason is clear. When healthy, Oden is a game-changing talent who, in his limited minutes thus far as an NBA pro, has made a serious impact down low. And while he’s never intended to play this season, a multi-year contract would have ensured either team his playing services for next season on a low-money contract.
The Heat’s only available multi-year offer would be a two-year minimum salary contract (i.e., the remainder of this season and next). The Cavaliers are still in position to use cap space to offer an up to four year contract staring at roughly $4 million.
Some in South Florida have been skeptical. Some believe the cost and the risk, when combined, are so great as to not justify the potential reward. But here’s the thing: there is no risk. None at all. Read more…
The Heat has completed a minor trade with the Memphis Grizzlies at the Feb. 21 deadline that gives the team some financial relief.
Miami sent seldom-used center Dexter Pittman, its 2013 second round draft pick and cash considerations to the Grizzlies in exchange for the draft rights to power forward Ricky Sanchez. The Heat will also acquire an $854,389 trade exception in the deal.
Sanchez will likely never play in the NBA. He was originally drafted in the second round (35th overall) of the 2005 NBA Draft by the Portland Trail Blazers. The Puerto Rican native has since played professionally in the Continental Basketball Association (2005-06), the D-League (2006-08), Puerto Rico (2007-11), Venezuela (2009), Mexico (2009-11), Spain (2011-12) and Argentina (2012-13), where the 6’11”, 220-pound 25-year-old has averaged 12.2 points, 7.1 rebounds, 1.9 assists and 31.9 minutes while shooting 42.2% from the field in 28 games for Libertad de Sunchales this season. His draft rights have been traded four times. He was included because each team is required to send the other something in every trade.
The trade exception holds very little practical value for the Heat either. It will allow Miami to trade for a player(s) with a total salary of up to $954,389 (the value of the exception, plus $100K) without being required to send back matching salaries. It cannot be used to sign a free agent, it cannot be traded to another team, and it cannot be combined with another exception or player in order to trade for a more expensive player. By league rule, teams over the salary cap (as are the Heat) are allowed to acquire minimum salary players without regard to salary matching anyway.
The impetus of the trade for the Heat is the roster spot that it creates. Teams are required to carry no fewer than 13 players, but no more than 15 players, on their rosters during the season. The Heat roster now stands at 14.
The Heat will look to add a player, likely a big man, who is currently a free agent or who might become available via buyout by March 1.
In order for a current player to be eligible for another team’s playoff roster, he must be placed on waivers by 11:59 p.m. on March 1. The player does not have to be subsequently signed by March 1. He can be signed as late as for the final game of the regular season to be playoff eligible. And a player who has not appeared on an NBA roster this season can also be signed any time prior to a team’s final regular season game in order to be playoff eligible.
Possible buyout candidates who may be of interest to the Heat include Jermaine O’Neal of the Phoenix Suns, Samuel Dalembert of the Milwaukee Bucks, Chris Kaman of the Dallas Mavericks, and Timofey Mozgov of the Denver Nuggets.
There is some rationale to believe that each could be a buyout candidate, although none is likely to be. The Suns need the roster spot to accommodate the soon-to-be-acquired Marcus Morris, and O’Neal has reportedly been pushing for the chance to play for a contender in the dusk of his 17-year career. The Bucks have agreed to acquire center Gustavo Ayon as part of a multi-player trade involving J.J. Redick, which would add Ayon to a center rotation that includes incumbent starter Larry Sanders and the reportedly unhappy Dalembert. The Mavs are fading out of playoff contention and are dealing with a reportedly unhappy Kaman who, himself, is dealing with a concussion sustained more than three weeks ago. The Nuggets have been looking to deal the seldom-used Mozgov, though they would seemingly have little reason to buy him out; if they do, it’d be simply to do him a solid.
Pittman, who had been banished to the D-League for the bulk of the season and didn’t figure into the team’s future plans, could always have been waived in favor of the roster spot anyway. Therefore, in essence, this trade was actually all about the money. The Heat sent $276,420 in cash to the Grizzlies to cover the remaining portion of Pittman’s contract – the same payout as would have been required were Pittman to have been waived. However, the Heat is no longer on the hook for the $854,389 in luxury taxes his contract created.
The success of this trade, therefore, hinges on the value placed on the draft pick. In trading Pittman, the Heat is essentially saying that its 2013 second round draft pick is worth less than $854,389 in cash.
They’re probably right. If the season were to end today, the pick would wind up being No. 59 overall in next year’s draft. Depending on how the rest of the regular season plays out, it could reasonably increase only to as high as No. 57.
Generally speaking, players picked at these levels wind up never playing in the NBA, let alone become valuable enough to meaningfully contribute to a title contender.
There are some notable exceptions, however. Manu Ginobili was selected No. 57 overall in the 1999 NBA Draft. Second year point guard Isaiah Thomas was selected with the final pick in the 2011 NBA Draft. But such cases are rare.
And so the trade, unnecessary as it should have been, was probably a marginally good one — at least from the perspective of owner Micky Arison. To see that, think of it this way: Arison probably could not have otherwise sold the No. 59 pick in the 2013 NBA Draft for $854,389.
Of course, the Grizzlies got an even better deal. They had just 12 players on their roster. They needed to get to the NBA minimum of 13. So they took Pittman for free. It’s nothing more than a two-month tryout. If he doesn’t develop, the Grizzlies can waive him at no cost. If he exceeds expectations, Memphis maintains his full Bird rights as a restricted free agent this summer. Yet, smartly, they negotiated for a 2013 second round pick from the Heat as well, again, absolutely free of charge. Free player, free pick. Not a bad day’s work.