“We’re dealing with that word that you hate to use — that we have to rebuild. But we will rebuild. Quick. I’m not going to hang around here for three or four years selling this kind of song to people in Miami. We have great, great fans. They’re frustrated. They’ve been used to something great over the last 10 years, and so right now we’re taking a hit. I think we can turn this thing around… You can use that word rebuild. But we’re going to do it fast.”
That was Heat president Pat Riley two months ago, conceding to WQAM’s Joe Rose that after nearly a decade of success, his organization would finally need to initiate a true rebuild. His team was in the midst of an excruciatingly painful season that started with the shocking (if not altogether unpredictable) departure of Dwyane Wade, followed by the gut-wrenching loss and stunning war-of-words with Chris Bosh, followed by a depressing 11-30 record that culminated with a demoralizing wire-to-wire loss at the hands of the Milwaukee Bucks exactly one month ago today.
What followed could well be the most extraordinary 13-game winning streak in league history.
The streak helped to stave off what many believe would have been a Heat firesale at the Feb. 23rd trade deadline.
While Riley’s willingness to sell of pieces such as Goran Dragic and Hassan Whiteside was likely always overblown, the consensus now seems to be that the streak has flipped Miami from sellers looking to trade pieces for future assets to buyers looking to solidify a potential playoff push.
The truth probably lies somewhere in between. The streak revealed some possible building blocks for the future, but it wasn’t necessarily real. Or sustainable. The Heat still need to reload. And, as Riley said, they need to do it quickly.
The reasons why are readily transparent.
The Heat figure to have a ton of financial flexibility this summer.
Based upon the league’s current $102 million cap projection for next season, Miami currently projects to have as much as $13 million in available cap space (assuming Josh Richardson’s non-guaranteed minimum salary is retained). With Bosh relief, the total will grow to $38 million. It could grow further, to $40 million if Dion Waiters were to decline his player option ($3.0 million), to $41 million if Willie Reed were to do the same ($1.6 million), to $44 million if the Heat were to waive and stretch the salary of Josh McRoberts ($6.0 million).
From that, the cap room required by the Heat’s first-round draft pick (assuming Miami keeps it) would need to be subtracted. It the Heat continues to hover around the playoffs, the pick would cost another $1.5 million or so in cap space, leaving Miami with anywhere from $37 million to $43 million with which to attack free agency next summer. Read more…