Oct 8, 2013, 9:09 PM EDT
Norris Cole is entering his third NBA season, but has already proven to be a key contributor on two straight championship teams for the Heat. Not surprisingly, since he’s still playing out his rookie contract and is considered to be still-developing talent at an extremely low price, Miami exercised its option to keep Cole under contract for the 2014-15 season.
From the official release:
Cole has appeared in 145 career games (six starts) and averaged 6.1 points, 2.0 assists, 1.5 rebounds and 19.7 minutes while shooting 40.7 percent from the field. Last season, he led the Miami reserves in assists 37 times, steals on 29 occasions, points 12 times and in rebounds and minutes six times each. In his two seasons with the HEAT, Cole has helped Miami capture back-to-back NBA championships, appearing in 40 postseason games while averaging 4.1 points, 1.4 assists and 1.2 rebounds in 14.7 minutes of action.
Cole was originally drafted by Minnesota in the first round (28th overall) of the 2011 NBA Draft before his draft rights were acquired by the HEAT in a draft night trade.
Under the rookie scale, Cole is set to make just over $2 million in 2014-15, and will need to have a qualifying offer extended of just over $3 million the following season for Miami to retain his rights as a restricted free agent (salary data via HoopsWorld).
This move was a mere formality, but it doesn’t come without a level of interest.
By now you’re probably aware that LeBron James, Dwyane Wade, and Chris Bosh can all opt out of their contracts next summer to become unrestricted free agents, or (more likely) sign longer-term deals to stay in Miami. The Heat brain trust set up the rest of the contracts on the roster with this not-so-small fact in mind, and up until today, no one was guaranteed a single dollar of salary beyond the upcoming season.
That’s right — the Heat potentially were at a completely clean slate from a salary perspective beginning next summer. That’s no longer the case, however, after Cole became the first to officially get locked in for the 2014-15 season.
Jul 28, 2015, 12:40 AM EDT
Ennis will get the chance to prove his case in training camp.
Jul 27, 2015, 11:00 PM EDT
Larry Brown said the condition had Popovich thinking about retirement.
Jul 27, 2015, 10:01 PM EDT
Well, you don’t see that every day.
Jul 27, 2015, 9:00 PM EDT
Wasn’t this obvious already?
Jul 27, 2015, 7:59 PM EDT
It could work — in very limited circumstances.
Jul 27, 2015, 6:59 PM EDT
Bird also says Jordan would destroy him one-on-one right now.
Jul 27, 2015, 6:32 PM EDT
James Ennis seems on the bubble with Miami.
Jul 27, 2015, 5:30 PM EDT
I so hope this isn’t staged.
Jul 27, 2015, 5:01 PM EDT
Dragic would not have fit the triangle, but he’s talented.
Jul 27, 2015, 4:05 PM EDT
Center goes from Frank Vogel to Byron Scott and is happy about it
Jul 27, 2015, 3:08 PM EDT
Key Democrat implies it’s not a certainty
Jul 27, 2015, 2:19 PM EDT
Vlade Divac is trying to put the band back together
Jul 27, 2015, 1:38 PM EDT
Celtics and Warriors finalize David Lee trade
Jul 27, 2015, 12:34 PM EDT
Did he accept the qualifying offer?
Jul 27, 2015, 12:11 PM EDT
Indiana apparently liked what is saw from undrafted free agent last season
Jul 27, 2015, 11:25 AM EDT
Protected second-round pick going back to Celtics
Jul 27, 2015, 10:12 AM EDT
Miller reportedly wanted to leave Cavaliers for a team that would play him more
Jul 27, 2015, 9:32 AM EDT
Both players to receive partially guaranteed contracts
Jul 27, 2015, 8:30 AM EDT
If Miller wants to be on a contender, it may not happen before the season starts.
Jul 27, 2015, 8:00 AM EDT
If he ever writes a biography of his time with the team, that will be a must read.
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