Pat Riley’s Future Cap Challenge
With the dream team of Bosh, Wade, and James settled down in Miami, analysts have begun to turn a celebratory page for a more critical one. With a team salary cap standing at a robust $58.044 million for the 2010-11 season, given the Heat’s position, they have a superstar nucleus but scarcely anything else. What happens, for instance, if someone gets injured? How does president Pat Riley put his team together in the wake of James’s decision?
Firstly, as soon as James signed on, Riley shipped off Michael Beasley to the Minnesota Timberwolves. Although the Heat received only a second-round pick in next summer’s draft and unspecified take of future first-round prospects, it also relieved Miami of $4.5 million of Beasley’s $4.96 million salary.
So as they stand, here are the Heat’s assets. Aside from an obvious commitment to the Big Three, the Heat have third-year point guard Mario Chalmers and an outstanding qualifying offer to call on centre Joel Anthony. The offer allows for the Heat’s right of first refusal, which would make Anthony a restricted free agent. They likewise have three second-round picks from this year’s draft: centre Dexter Pittman, forwards Jarvis Varnado and Da’Sean Butler.
Taking Chalmers into account, Anthony, a contract guarantee on released guard James Jones and several cap holds (second round picks don’t count on their cap until they’re signed), the Heat accrued an enormous $49.85 million in spending money. Indeed, this could be the largest dollar figure ever cashed out by a team in the free-agent market.
This is another way of saying that apart from Riley having his Big Three, he still has a lot of work to do with a very small amount of money. He needs, for example, a backup for each of James, Bosh and Wade, a starting centre and one more point guard (to play ahead or behind Chalmers). Due to NBA legislation the Heat must have 13 players signed, so they’re going to have to get creative in order to woo at least another five of them.
Consider that if James, Wade, and Bosh have received their maximum salary (about $16.50 million each), Riley would have had only $1.56 million left to make a team. But because each of those players were willing to play for less (whether that means they are playing strictly for ‘wins’ is contestable), the Heat is in a bit better shape. Sources suggest that they each signed for about $14 million, respectively, leaving the Heat with just over $8 million to spend.
With the loss of their star casts, the Cavs and the Raptors decided they wanted to get something in return. Both teams are dealing out sign-and-trade transactions, signing these players themselves in anticipation of trade that must occur within 48 hours. Both teams got first round draft picks and large trade exceptions in return.
One rumour that keeps coming up is that the Heat will use some leftover cap space to add Mike Miller to the line up. He’ll come in at about $4.3 million a season. While he’s naturally a small forward, he’s sure to complement James and co., as he can play the role of the sharpshooter, or give James relief when he needs it. Coach Erik Spoelstra could play James or Wade at point guard and put Miller in the other position.
Provided Miller signs on, the remaining $4 million would have to be spent on free agents. Lakers guard Derek Fisher is a possibility, but Kobe Bryant has been adamant about the Lakers picking him back up. Either way, Riley is going to have to persuade a player or two on the idea of accepting less in order to be part of history.
Tags: