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SAS: Bosh Broke Up the "Dream Team" in Miami

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  • #16
    As to the likelihood of all three winding up in Miami, it is possible. But it would require at least one of the three players to give up a lot of money. The Heat have not cleared enough salary cap room to be able to sign two "max-level" free agents and to re-sign Wade, though it is getting closer.

    Currently, Miami only has three players under contract -- forward Michael Beasley, guard Mario Chalmers and swingman James Jones. Beasley is scheduled to make $4.962 million next season and Miami picked up Chalmers's option for next season earlier this month at $854,300. Jones is set to make $4.64 million next season, but only $1.86 million of that is guaranteed if Miami waives him by Wednesday. The two sides are working out some kind of arrangement, whether a straight buyout or something else involving deferred money, that would result in the Heat only being charged the $1.86 million figure on its cap for next season.

    If Miami reaches an agreement with Jones, the total amount of committed money for next season for the Heat would be $7.6725 million. At first glance, that would leave Miami -- if the league's projection of a $56.1 million cap for next season remains accurate -- with $48.4275 million in room, which would be enough to sign three players to near-max deals.

    But that's not how the cap works.

    Grab some coffee. A lot of numbers are coming:

    Teams that have fewer than 12 players on their cap when free agency begins are given "cap charges" for every free roster spot up to 12. The amount is what a minimum-salaried rookie would receive next season. That number is $473,600. So Miami would have to assign that amount per slot for at least nine players, because after waiving/buying out Jones the Heat would only have two players, Beasley and Chalmers, under contract. (The 10th player is Wade, who has his own cap hold. More on him below.) Multiply $473,600 by nine and you get an additional $4,262,400 that the Heat have to carry on their books until they start signing players. Added to the $7.6725 million Miami is already carrying forward and you get approximately $11.9349 million in salaries and charges Miami has to have on its books, leaving the Heat with about $44.1 million in room.

    Then there's Wade. Miami has to hold onto his rights even after he officially opts out, so that he can re-sign with the Heat under the "Larry Bird" provision of the Collective Bargaining Agreement. A Bird free agent that has gone through at least a second contract can maintain his rights with his team as long as it keeps a cap hold on him July 1. In Wade's case, given that he made more than the league average salary last season and because he's a "Larry Bird" free agent ending a contract after his rookie deal, he's subject to a different level of cap hold. For Wade, that would be 105 percent of his previous contract, which was $15.779 million last season. That means his cap hold on Miami's books is $16.568 million, until the Heat re-sign him. Then, the new figure would replace the $16.568 milliion. But until that happens, that $16.568 million is added to the $11.9349 million.

    But the whole notion of this Trio of Terror rests on Miami's re-signing Wade. Let's say Wade re-signs for the maximum he could get under the CBA, which would be 105 percent of his previous salary, or $16.568 million. That figure would replace the $23.66 million on Miami's cap. Added to the $11.9349 million, Miami would then have $28,502,900 in committed salaries for next season, and $27.5971 million in room to be split between James and Bosh.

    But James and Bosh are also on line for $16.568 million maximum salaries in the first year of their new deals. Wade would wind up with more money over the life of the contracts, however, because he would get bigger raises for re-signing with his own team (10.5 percent of the first-year total each season) than James or Bosh would get for signing with a new team (8 percent of the first-year total). If James or Bosh got the maximum he could, or $16.568 million of Miami's remaining room, that would leave only about $11 milllion for the other. Over the course of a five-year deal, the player taking the max in year one would wind up with about $96.1 milliion, while the player taking $11 million in year one would get about $63.8 million.

    For the sake of argument, let's say instead that James and Bosh agree to split the $27.5971 million right down the middle, leaving each with about $13.79 million in first-year salary. Over five years that would give each an approximately $80 million deal -- an incredible windfall, to be sure, but still $16 million less than each would get if he got his maximum salary over a five-year deal. (A sixth season would increase the deficit even more.)

    Of course, all three players could take less and split the available room, roughly, three ways, which would give each around $15 million to start next season.

    Thomas would not say whether Bosh or Wade would take less money in order to play with each other, or with James, next season.

    I stuck to those - the rest 12 players and minimum-salaried rookies contracts.


    • #17
      There are two tragedies in life. One is not getting what you want and the other is getting it.

      Bron, Wade and Bosh created this hypestorm and now they are trapped in it. I don't begrudge any of them for how they handled this situation as it was truly unique and unprecedented, but I get the feeling they are all feeling the pressure of the 24/7 media blitz and the realization that no matter what decision they make they will be disappointing millions of people.

      If the three free agenteers all end up in Miami, what conclusion do we draw. Does that mean they picked winning because I'm not sold that you can win a title with only three players regardless of how good they are.

      I don't think Bosh is worth max money, but I also don't think the raptors should pay anyone other than an elite handful of players max money, its generally a suckers deal. That doesn't mean Bosh should take a pay cut either and he shouldn't be chastised for wanting what lesser player's than him are receiving.

      I think of the three Bosh is the one who should get the highest contract. Wade and Bron receive exponentially more money through endorsements deals than Bosh and if they were truly being egalitarian they would take the miniature pay cut and allow Bosh to assuage his ego when he very clearly possesses insecurities when it relates to his status in the conversation.

      A true leader sacrifices for the greater good of the team. We already know Bosh doesn't possess the leadership gene or a team first mentality, so its foolish and unrealistic to ask that of him now.


      • #18
        Vellassco wrote: View Post
        I stuck to those - the rest 12 players and minimum-salaried rookies contracts.
        That writer had a few mistakes in an otherwise good summation.

        1) He made somewhat of a big deal out of Wade's cap hold, even though it's no different from what he will be paid, making it irrelevant. You can see he was probably explaining Wade's cap hold differently before correcting himself, because he writes "[$16.568 million] would replace the $23.66 million on Miami's cap." He was correct in the end about the cap hold simply being $16.568 mil, but you can tell he had previously thought it was 150% of Wade's 2009-2010 salary, which is $23.66 mil. Because the cap hold is $16.568 mil and Wade's first year salary is also $16.568 mil, much of his summation was extraneous.

        2) Yes, if they must keep Beasley and Chalmers, they would not be able to offer 3 max contracts, but that's hardly a mandatory limitation. All they have to do is find takers for Beasley and Chalmers, or have Cleveland and Toronto take them in the S&Ts. Throw in $3 mil cash to cover most of Beasley's salary if that's a concern, and/or if need be, an extra future draft pick to go through the trouble. Miami's roster is so gutted at the moment that gutting the remaining players is hardly a difference maker, and any one of the LBJ, Wade or Bosh would be more valuable than Beasley and Chalmers combined.


        • #19
          The question is still there. where are remaining 12 players -assume Beasley and Chalmers found their takers (CAVS and/or TOR)

          and what will their contracts be?
          Last edited by Vellassco; Sun Jul 4th, 2010, 07:47 PM.


          • #20
            I'm sure they can get Iverson to play point guard.

            Now THAT would be an interesting team.
            Two beer away from being two beers away.


            • #21
              Vellassco wrote: View Post
              The question is still there. where are remaining 12 players -assume Beasley and Chalmers found their takers (CAVS and/or TOR)

              and what will their contracts be?
              All minimum salary players. That is all they will have at their disposal. I'm sure finding a bunch of role players (play D, hustle, make open shots) interested in playing on the so-called dream team wouldn't be that difficult. With the likes of LBJ, Wade and Bosh running the show, it's not like they need more stars. I'm thinking of guys like Udoka, Oberto, Elson, Battie, Ivey, Hassell and House.
              Last edited by Quixotic; Sun Jul 4th, 2010, 08:55 PM.


              • #22
                Last edited by Vellassco; Wed Jul 7th, 2010, 01:21 PM.