Heat looking to buy out James Jones, create an insane amount of cap space

Jun 24, 2010, 3:42 PM EDT

According to ESPN’s Chris Sherdian, the Miami Heat are currently attempting to reach a buyout agreement with forward James Jones in order to free up more cap space. After unceremoniously dumping Daequan Cook for cap space recently, buying out Jones would mean that Michael Beasley and Mario Chalmers will be the only Heat players technically under contract for the 2010-11 season. (The Heat are reportedly looking to move Beasley as well.)

Of course, what this now means is that the Heat have an absurd amount of cap space. Theoretically, the Jones buyout would give the Heat enough money to re-sign Wade, sign LeBron James, and have another $10-11 million left to spend on other free agents.

As Sheridan noted, a cap-saving Beasley trade could give the Heat as much as $47 million to spend in free agency. If that happened, Wade, James, and Bosh would all only need to take slight pay cuts in order to combine like Voltron and become an ubersuperteam. (I’m not sure who would fill the rotation out on that team, but I’m also not sure it would matter.) Whatever you think of the Heat’s moves this off-season, you can’t fault Pat Riley for a lack of ambition.

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4 Comments (Feed for Comments)

Mike Gilbert - Jun 24, 2010 at 4:55 PM

Love it…Heat are going to sign a new team of FA’s

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Randall - Jun 24, 2010 at 5:09 PM

Oh boy, an entirely new team. Isn’t that like admitting the last few years have been an epic fail? And Riley’s being applauded? Re-sign Wade, add another max contract. You’re still one injury away from what you had last year, except for having a roster that isn’t used to playing together. Sounds more like rebuilding post-Wade to me.

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Chris Simoneau - Jun 24, 2010 at 6:38 PM

holy crap. Miami is going to sign all 3, I can feel it. They will win about 3 titles if they pull this off. Even if Bosh wasnt included, Wade and James would be lethal.

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giselleisasucubus - Jun 16, 2012 at 8:18 PM

Sooo looks like I was right 2 years ago when I predicted the Miami big 3. Giselleisasucubus is my new screen name

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