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Posts Tagged ‘Mike Miller’

Mike Miller Agrees to Sign with Memphis Grizzlies

July 24th, 2013 No comments

Mike Miller is now a member of the Memphis Grizzlies. He has reportedly committed to sign a one-year, minimum salary deal with the Grizzlies.

Despite his role in helping Miami win back-to-back championships, Miller was waived via the amnesty provision last Tuesday in a financially motivated move that saves the Heat $16.4 million on luxury-tax payments next season, and upwards of $40 million over the next two seasons.

After clearing waivers, Miller became a rather hot free agent target. The Denver Nuggets, Houston Rockets, Oklahoma City Thunder and Memphis Grizzlies, among others, were all said to be competing for his services. Most, if not all, were offering a minimum salary contract but pitching the opportunity to take on a prominent role as a perimeter specialist on a championship contender.

From a financial perspective, the Heat would have preferred that Miller be claimed on amnesty waivers. Doing so would have reduced the Heat’s obligations dollar-for-dollar by the amount of any partial bid.

Rumblings began to circulate last Wednesday that Cleveland was interested in claiming Miller, followed conspicuously by reports of the veteran small forward needing back surgery or even contemplating retirement. The Cavs were thought to be eyeing Miller as a further inducement for close friend LeBron James to sign a free agent contract in summer of 2014. The back surgery rumors appear to have been a smokescreen in order to make sure he cleared waivers. Miller wanted to play for a contender. The Cavs aren’t likely to be a contender.

Read more…

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Miami Heat Use Amnesty Provision on Mike Miller

July 16th, 2013 1 comment

It was inevitable. But it is still painful.

He made a ridiculous seven 3-pointers against the Oklahoma City Thunder in the clinching game that gave the Miami Heat the 2012 NBA championship. He made one of the most iconic 3-pointers, shoeless, in an elimination game and an incredible 11-18 overall against the San Antonio Spurs that ultimately gave the Heat their second consecutive title a year later.

Now the Heat’s affable 3-point marksman is gone, essentially gone for good, after three seasons of playing alongside LeBron James, Dwyane Wade and Chris Bosh in Miami.

The Heat invoked their one-time right to waive a player through the NBA’s amnesty provision, electing to utilize it on 33-year-old Mike Miller in advance of Tuesday’s 11:59 p.m. deadline.

It had to be done. Despite his clutch and mechanically perfect shooting stroke, Miller was the fourth highest paid player on the Heat’s roster behind James, Bosh and Wade. But there were many months during Miller’s three years in Miami when he wasn’t even the eighth man in the rotation.

The Thunder trade of James Harden, the New York Knicks refusal to match the offer sheet of Jeremy Lin, the Memphis Grizzlies trade of Rudy Gay, and now the Heat amnesty of Miller were all done for the same reason: the new CBA in operation.  Read more…

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For the Heat, Amnesty is a Big-Money Decision

July 7th, 2013 No comments

This post is an elaboration of a June 23 post regarding the fate of Mike Miller. It details the calculations supporting the conclusions that were drawn — that, despite public comments by Pat Riley to the contrary, Mike Miller will be amnestied — so that readers can appreciate the complexity of the situation and decide for themselves the appropriate course of action. 

Wednesday is a key day in the NBA.

It’s the league’s equivalent of National Signing Day – the day in which new contracts can be signed and trades can be executed. After more than a week of furtive negotiating, non-binding agreement, and heart-palpitating waiting, everything becomes official.

It’s also the start of the amnesty waiver window, a seven-day period that this year runs from July 10 to July 16, when eligible teams may designate eligible players for amnesty release.

Amnesty was added to the Collective Bargaining Agreement that ended the 2011 lockout. Because of the new, far more onerous luxury tax consequences that will be fazed in starting next season, teams have been allowed to designate one player for waiver in a manner such that his remaining salary would not count against the salary cap and luxury tax. While amnesty eases salary-cap and luxury-tax concerns, teams still have to pay out the player’s remaining salary, including any remaining option years.

Teams are only allowed to make such designations each offseason during a one-week window starting the day after the moratorium ends. When that happens, all other teams are immediately notified by the league. They are then allowed place a claim in order to acquire the amnestied player, but only if they have the necessary cap space to do so. Teams can make either a full or partial waiver claim.

When a team makes a full waiver claim it acquires the player, assumes his full contract, and pays all remaining salary obligations; the waiving team has no further salary obligation to the player. A partial waiver claim is a bid for a single dollar amount. If no team makes a full waiver claim, the player is awarded to the team submitting the highest bid in a partial waiver claim; the amount of the partial waiver claim is then subtracted from the waiving team’s continuing obligations to their amnestied player. The minimum possible bid a team can make is the minimum salary applicable to the player for all remaining guaranteed seasons of his contract.

Fifteen of the league’s 30 teams have already utilized their amnesty provision in previous seasons. An additional one has no remaining players who qualify for amnesty.

Which brings us to the Heat, one of the remaining 14 teams yet to act.  Read more…

What Could a Ray Allen Opt Out Mean for the Heat?

June 27th, 2013 No comments

The following post has been written in response to a column by Ira Winderman, a local beat writer who I enjoy reading and respect very much, in which it was stated that Ray Allen could not earn more from the Heat by opting out of his contract. As I often do all across the cyber universe of NBA basketball, I respectfully informed him that the Heat could in fact offer Allen both a higher starting salary and a longer contract by utilizing his Non-Bird rights if Allen were to first opt out. The revision of his column to reflect the correction has led to widespread speculation that Allen opting out is a forgone conclusion. While I have informed others of the possibility, I have never written about it on this blog because I do not believe it has a realistic chance to happen. I continue to believe that Allen will opt in by the June 29 deadline. The following post describes why. 

The plot keeps growing. And with it, so too the potential outcomes.

As expected, James Jones and Rashard Lewis have exercised their player options that will pay them $1.5 million and $1.4 million for next season, respectively. The Heat has also picked up its $4.0 million team option on Mario Chalmers.

The surprising revelation, however, is the apparent indecision of Ray Allen. Allen holds a $3.2 million player option. The common logic has been that – having hit the most iconic shot of the 2013 playoffs, perhaps the single biggest three-pointer in Miami Heat history, perhaps the single biggest field goal of his life, and, as a result, having won his second NBA title – he was surely rejuvenated and excited to return.

That notion now appears at least somewhat in doubt.  Read more…

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The Fate of Mike Miller

June 23rd, 2013 No comments

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.

He knows it. He recently sold his beautiful Pompano Beach residence at auction in preparation.

Was he right? Were his actions premature? What are the alternatives for Miller and the Heat?  Read more…

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Everything is Done: How Did It All Happen?

July 17th, 2010 5 comments

The Miami Heat finished last season with 16 players under contract and a team salary far in excess of the salary cap. They then created enough salary cap room to sign everyone who is on the roster today. Now they are far in excess of the salary cap once again.

So how did it all happen? How did they manage to get so far below the salary cap and then above it again all in the same season? With creative financing!

Everything has now been finalized. It’s done. Here’s a step-by-step breakdown.

(Note: The actions below, in some cases, may be out of order. They have been structured so as to make evident the Heat’s thought process along the way, as well as to promote ease of reader comprehension. Full comprehension also requires an understanding of cap holds and roster charges, which are described in detail here.)

This is a snapshot of the Heat’s salary cap situation at the end of last season:

Read more…

Haslem’s signing sheds light on Miller’s contract

July 13th, 2010 4 comments

Udonis Haslem has now officially signed a 5-year contract estimated at just over $20 million, suggesting that my previously rounded figures may actually be exact. His first year salary, around $3.5 million, would be less than half of his $7.1 million last season total.

One major factor aiding in his decision was swingman Mike Miller’s decision to join the Heat – something the team still has not announced. Miller and Haslem have been close friends since their days at the University of Florida.

Assuming the Heat chooses to retain its rights to Joel Anthony, Haslem’s contract leaves the team with an estimated $5.0 million to devote to Mike Miller. That would equate to a five-year contract of roughly $29 million.

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It’s Official!!!

July 9th, 2010 8 comments

With 13,000 Heat fans anxiously waiting in AmericanAirlines Arena to welcome its newest trio of superstars, Dwyane Wade, LeBron James and Chris Bosh were upstairs finalizing their contracts. Minutes later, they emerged through a cloud of Canes-like smoke… along with some unexpected news. Udonis Haslem is returning to join the party.

Haslem’s commitment was, needless to say, a shocking revelation. Even I had previously reported that Udonis would not be back. The Heat was out of cap space, the team was unable to utilize his Bird rights, and he was not about to sign for the league minimum.

So, how was it possible?

In short, the triumvirate agreed to reduce the value of their contracts. And Riley turned around and utilized the recovered cap space to secure the beloved power forward, as well as newcomer Mike Miller.

But why would they so drastically reduce their salaries? Well, pure generosity. Udonis and Mike are friends of the Big Three, and the Big Three did right by their friends in their desire to put together a championship-caliber roster and close-knit team.

How much did they sacrifice? Let’s take a look. Read more…

Heat Comes to Terms With Free Agent Swingman Mike Miller

July 9th, 2010 13 comments

The Miami Heat has taken another major step forward in its attempt to build out its championship-caliber roster, agreeing to a five-year, $29 million contract with Wizards free agent swingman Mike Miller.

Miller, 30, is one of only two NBA players (Steve Nash) who shot better than 50% from the field, 40% from beyond the arc and 80% from the line while averaging at least 30 minutes of playing time this past season. He has quietly developed into one of the most versatile and efficient offensive players in the game today. Miller is a multi-faceted offense threat: he can shoot, he can drive, he can pass and he can rebound. He often plays more than one position during the course of a game, including a point-forward type role in some stretches. Miller is best suited as a complementary piece, where his overall floor game can benefit his team greatest.

Miller, perhaps the game’s ultimate floor-spacing wing player, figures to get big minutes alongside LeBron James, Dwyane Wade, Chris Bosh and an as-yet undetermined center. If the Heat elect for a small-ball approach, Bosh could slide over to center and James to power forward, allowing Mario Chalmers onto the floor at the point. That could produce some of the greatest offensive basketball this game has ever seen.

Wade and James need little else beyond just the floor space with which to maneuver. Chalmers, Miller and Bosh could provide them just that. Simply by camping out along the perimeter, these players present their defenders with the following dilemma: should they sag into the paint and prevent Wade or James’ penetration and risk a kickout, or should they stick to their men and leave the driving player unattended?

That’s a tricky proposition made nearly impossible by the fact that James and Wade are perhaps the two best finishers at the rim in the game, and Miller and Bosh are two of the best perimeter jump shooters in the league. Chalmers, despite his regression last season, is advancing in his role as a three-point threat and could be in line for a breakout season.

Miller was reportedly seeking a multi-year contract above the mid-level exception valued at $5.8 million a year for up to five seasons. The 6’8″ ten-year veteran was being courted by several teams, including the Los Angeles Clippers and New York Knicks, each of which stood to offer him substantially more money. Miller now becomes the fourth Heat player who has taken fewer total dollars in exchange for the prospect of winning multiple NBA titles.

The contract status of Wade, James and Bosh can now be finalized. Miller’s contract will start at $5.0 million, with 8.0% annual non-compounding raises. That would leave enough room under the $58.044 million salary cap for each member of the trifecta to sign a contract with a 2010-11 starting salary of $15,423,364, a $1,145,544 discount from the max.

After they do, Miami will have five players under contract – Wade, Miller, James, Bosh and Chalmers – and no additional room under the salary cap with which to operate.

A Miami Heat dynasty is currently in formation.

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Mike Miller Off the Table?

July 1st, 2010 1 comment

Per Jeff Goodman of Fox Sports:

Mike Miller has been offered a five-year, $30M contract by the Lakers.

Miller expects to be recruited by LeBron James and Dwyane Wade wherever they end up.

The Lakers have set a deadline of tonight to accept their offer.

Is Mike Miller off the table?

Miller is a close personal friend of James and so, if he is held to such a deadline, one would suspect that Miller will reject — until he knows for certain that he won’t be playing alongside James, wherever he ends up, in his quest for an NBA championship.

His expectation, however, is interesting — and more than just a little bit exciting — in another regard. There has been all kinds of speculation that James will team up with Wade and Chris Bosh in South Florida. Could they each be willing to sacrifice maximum dollars in order to bring Miller along?

What a dream scenario that would be! Without any quality big men available on the free agent market, the Heat could elect to play small – sliding Bosh over to center and James over to power forward – and create one of the most lethal offenses in league history!

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