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Updated: Chris Bosh has opted out, will take a pay cut to stay with Heat

Jun 29, 2014, 9:30 AM EDT

Chris Bosh Chris Bosh

UPDATE 5:20 p.m.: Bosh has indeed opted out as expected.

9:30 a.m.: Pat Riley’s master plan to retool the Miami Heat after they were crushed by the Spurs in the NBA Finals seems to be coming together, even if it’s happening a bit more slowly than expected.

LeBron James wasted no time in opting out of the remaining two years on his deal to become an unrestricted free agent, but it’s likely he isn’t going anywhere, and only did so to gain a longer-term contract for more guaranteed dollars, and potentially take less money in the short-term in order to help the team gain flexibility to add talent to the roster.

Dwyane Wade opted out of the final two years and $42 million he was owed on Saturday, in a similar move that will allow the Heat to pay him more in total on a new deal, but less per year to gain more room to maneuver under the salary cap.

Chris Bosh hasn’t done the same just yet, but is expected to acquiesce before Monday’s deadline.

From Brian Windhorst of ESPN.com:

[Bosh's agent Henry Thomas], meanwhile, said Bosh has not decided on whether to opt out, but sources told ESPN The Magazine’s Chris Broussard that the All-Star big man will indeed follow suit and choose free agency by Monday’s midnight ET deadline. …

Bosh will head into free agency willing to accept a pay cut from the $20 million he was owed next year, sources said.

Again, this is all part of the plan — one that apparently didn’t take too much convincing.

The Heat have been to the Finals four straight years, which is every season that James, Wade and Bosh have been together in Miami. They ran into a buzz saw in San Antonio, but there’s not a ton that needs fixing here, and the team’s three stars seem to realize that.

Miami will have salary cap money to use by the time all is said and done. In addition to the three stars opting out to restructure their deals, Udonis Haslem has done the same, and the team is looking to unload $2 million more in salary by attempting to deal Norris Cole, who is somewhat expendable now that the Heat were able to trade for Shabazz Napier on draft night.

Needless to say, it’ll be extremely interesting to see how they end up spending it.

  1. d57fan - Jun 29, 2014 at 9:36 AM

    When will you idiots get the fact that taking more money spread out over more years is not a “pay cut”. It’s a re-working of a contract. No one was giving Bosh a max contract 2 years from now and the money he gets from the Heat 5 years from now will be guaranteed.

    • adoombray - Jun 29, 2014 at 9:46 AM

      you’re calling people idiots over semantics on the internet. Not a great way to convince anyone of your argument. It’s a beautiful Sunday morning, relax dude

    • nflcrimerankingscom - Jun 29, 2014 at 9:53 AM

      Bosh could get a 4 yr max contract RIGHT NOW.

      The only person your point makes any sense on is Wade.

    • sportsfan18 - Jun 29, 2014 at 10:15 AM

      d57fan

      Idiots? I see…

      A blanket statement like you made cannot be said… particulars ARE needed…

      Example

      D Wade had he opted in both yrs would have made $41 million in the next 2 seasons.

      Now, if he ends up getting $50 million over the next 4 yrs (hypothetically, I’m not saying he will and I don’t care, just using the numbers for an example).

      There is the TIME VALUE of money. Yes, $50 million is MORE than $41 million.

      Why do lottery winners take less overall when they select the cash up front?

      I’d rather have $41 million in two years than get $12.5 in yr 1, $12.5 in yr 2, $12.5 in yr 3 and $12.5 in year 4.

      One would have two yrs to use their $41 million to work for them vs. only having $25 million in two yrs under the 4 yr $50 million contract.

      And since nothing is guaranteed, a player who kept the $41 for 2 yrs (not just D Wade, but any player) could then sign a new contract after the two yrs are up.

      Let’s use Bosh. Years and total dollars and again this will just be an example.

      Bosh would have gotten $42 million in two yrs.

      Let’s say he now will get $55 million over 4 yrs…

      Well, what IF he kept the $42 million in 2 yrs and then resigned after that for 2 yrs and $16 million ($8 million per season)?

      $42 million plus $16 million equals $58 million which is MORE than $55 million.

      Oh, he would have received his $42 million in the first two yrs rather than smaller amounts.

      There are a lot of moving parts here.

      SOMETIMES it is a pay cut. Other times it leads to MORE money.

      But one may not simply make a blanket statement that it is one way or another until all the facts are known.

      • marsh025 - Jun 29, 2014 at 5:30 PM

        championships are worth more to these guys at this point in their careers than money which they already have enough of for two lifetimes.
        It’s not always about money when you are already rich.
        Why do you think Donald sterling is not ecstatic about the 2 billion sale of the team/
        He already has at least a billion so his life is not going to change by getting two more billion.
        You’ll never understand.

    • ProBasketballPundit - Jun 29, 2014 at 10:58 AM

      You are a slow adult.

    • JT - Jun 29, 2014 at 12:20 PM

      This ain’t the NFLhomie

      http://thefrontofficenews.com

  2. shrimpking55 - Jun 29, 2014 at 9:51 AM

    Let the HATE continue…hahaha. GO HEAT!

    • eugenesaxe1 - Jun 29, 2014 at 4:17 PM

      Yes, GO GET HAMMERED IN THE FINALS AGAIN!

  3. lowtalker - Jun 29, 2014 at 9:59 AM

    so Wade opted out of $42 million over two years. I would think that would save a lot of money. is a GM going to pay him more than half of that over the next two years given the decrease in his play and fact that he sits out a lot. Not looking for a thumbs up or down . .. just wondering what more knowledgable BB fans think.

    • balsagna - Jun 29, 2014 at 11:10 AM

      I think they both realize that they have no chance without Lebron. If Lebron goes to any logical choice in the East, that team would be favored over the Heat…even the Cavs. I’m interested to see the number they sign for, and just how much money that snake Pat Riley is left to work with. Their bench is poor and they still have need for a point guard (sorry, if you’re banking on Napier to be a big contributor next year I think you’re fooling yourself).

      I also am interested to see how the player’s union and future CBA negotiations will be effected by this sort of stuff. It will be a fascination free agecy period.

  4. nicofthenorthstar - Jun 29, 2014 at 10:04 AM

    These guys are taking pay cuts so that el BJ can get paid the max. The guy who makes absurd amounts of money to be a basketball player even when his player salary is excluded. Quite a team guy that el BJ. Apparently he learned a lot about a strong team focus when his team got completely destroyed by the spurs. Or not.

    • theghostofwillisreed - Jun 29, 2014 at 10:08 AM

      except for the two years prior when his team won it all. just stop.

    • antistratfordian - Jun 29, 2014 at 4:00 PM

      No one knows if James is going to ask for the max. Besides, LBJ has never been the single highest-paid player on his team in his entire career. Incredible, yes?

  5. packhawk04 - Jun 29, 2014 at 10:11 AM

    Sign and trade with wade for whatever you can get, go all in for carmelo. Wade is about done.

  6. lphboston - Jun 29, 2014 at 10:14 AM

    Bosh will take less money so he doesn’t have to go to a team that will insist that he plays hard

  7. samsonight1010 - Jun 29, 2014 at 10:24 AM

    I guess the world will be a Spurs fan for one more year

  8. edgewaterjoe - Jun 29, 2014 at 10:25 AM

    Chris who? He’s still in the league? Sure didn’t see him against the Spurs. And LeBron thinks he can win another title with him and a broken-beyond-repair Wade? If he does, his team’s not nearly as smart as he thinks. That or Riley has some damning photos he’s blackmailing LeBron with …

  9. andreboy1 - Jun 29, 2014 at 10:44 AM

    0 points in game 7.

    Again, 0 points in game 7.

    0 points in the biggest game of his life.

    He should take a pay cut if he wants to be a role player and gravy-train LBJ to more titles.

  10. jzone954 - Jun 29, 2014 at 10:47 AM

    Some of you keep trying to create this world that Miami wasn’t 3 wins away from a 3rd straight title. I mean if that was you’re team wouldn’t you think some adjustments need to be made to help with a better surrounding cast? But no I hear “ITS OVER , LEBRONS GONE, MIAMI WONT EVEN MAKE IT BACK TO THE FIRST ROUND ” lol.

    • senorpapino - Jun 29, 2014 at 3:51 PM

      Barring obnoxious sentiment from both sides, just as easy of an argument could have been made last year when the Pacers were a game away from beating the Heat and then upgraded their roster. Truth is no one knows how Miami will be next year and it was quite clear at the end of the series that Miami needs to get significantly better to win the title.

      • antistratfordian - Jun 29, 2014 at 4:09 PM

        That isn’t exactly true. One thing Heatles haters are loathe to accept is that Miami, as they were constructed, could’ve won the title if either 1) the Spurs never make an adjustment to start Boris Diaw or 2) some other team represented the West in the Finals – preferably OKC or LAC.

        People seem to forget that San Antonio went to Miami having lost home court advantage. There’s a reason why Pop decided to do something drastic for Game 3 – If he didn’t, more games were going to look like Game 2.

  11. jbeagles23 - Jun 29, 2014 at 10:49 AM

    Whoever thinks this isn’t a pay cut is plain dumb.

  12. brianratm - Jun 29, 2014 at 10:59 AM

    Stop saying “Miami’s three stars”. Miami has one star, a broken down former star, and a former faux star who really no longer is a top ten at his position. You can’t retool Miami. If these three guys all come back they will become the Phillies of basketball. Lets also be honest with the fact that LeBron is now past is prime. I know he is only 29, but prime in basketball is usually considered 26-29, and by entering the physically demanding NBA at 18, LeBron accelerated his aging process

  13. balsagna - Jun 29, 2014 at 11:00 AM

    Of course they are willing to take a pay cut, they have no chance of winning a title without Lebron.

  14. ProBasketballPundit - Jun 29, 2014 at 12:11 PM

    I would like all of you to look up the word nuance in the dictionary. Learn it and incorporate it into your life. Not everything is extreme; not everything is one sided. Yes Bosh scored 0 points in a game 7… but the Heat wouldn’t have even beaten Boston if not for Bosh’s defense. Yes Wade is fading… but he could still be a valuable secondary scorer like Manu. Yes the Heat just got destroyed but to say they’re done is absurd. Spurs & Celtics have shown that star players may lose their athleticism over time but they gain chemistry and wisdom. So everybody cut it out with the definitive proclamations and maybe try to say something interesting.

  15. garybrian - Jun 29, 2014 at 12:13 PM

    Bosh is a stiff that was able to grab onto James and Wade by one nut each to win a couple of championship rings. That’s about all he’s good for!

  16. naterich21 - Jun 29, 2014 at 1:15 PM

    There should be a clause in Bosh’s contract that he will cut if he can’t average more than 7 boards a game.

  17. philswfc08 - Jun 29, 2014 at 2:13 PM

    If I were the heat I would have told them if give them more $ over more years if they opted out too…and then offered them table scraps. They should move on from Wade and maybe Bosh too unless they are taking mid-level exception type deals. Then go after Lowry or Bledsoe and some other complimentary pieces.

  18. spliff219 - Jun 29, 2014 at 2:47 PM

    ohhhh we cant win with three all stars, we should get another one. That a way to ruin the game. Turds

    • antistratfordian - Jun 29, 2014 at 4:19 PM

      Bosh and Wade’s status always fluctuates depending on the argument a hater is trying to make. Read the other comments here – Bosh is a “stiff” – a “a former faux star who really no longer is a top ten at his position” – a “role player.”

      Generally, if haters are trying to make Miami look bad, they’ll say Wade is done and Bosh is a stiff. If they want to make LBJ look bad then Wade and Bosh magically become superstars again.

      Here, you’re doing the latter.

      So which is it, haters? Make up your minds.

  19. eugenesaxe1 - Jun 29, 2014 at 4:19 PM

    I’d laugh if Riley did the smart thing and showed wade to the door.

    • papichulo55 - Jun 29, 2014 at 8:07 PM

      You really have a low opinion of LBJ as a man if you think that he would let anybody, for any reason, take $41.8 million from his friend and business partner. Riley understands, clearly, that Wade must not lose any that money, otherwise, he risks losing LBJ.

      • eugenesaxe1 - Jun 30, 2014 at 4:21 PM

        Again, if Riley did the smart thing, wade would be gone.
        wade is through as a big-time guy. He’s broken.
        LBJ wants to win. wade’s money, put towards a contract for someone who ISN’T broken, makes winning a lot easier. THAT’S business.

  20. edgewaterjoe - Jun 29, 2014 at 5:36 PM

    Hey Pundit, why don’t you try to say something interesting beyond your LeBron love? The Spurs broke the Heat, plain and simple. The East has nowhere to go but up – the Wizards are young, the Bulls have Rose and who knows who else coming back, and even the Pacers showed they can play during the regular season. And that doesn’t begin to take into account at least three West teams that can take the Heat and will only get better (Spurs, Thunder, Clippers). Finally, Pundit, riddle us this: name one player on the Heat besides LeBron that has gotten better the last two years. And you think Riley can magically make them a threat no matter how much money they have? Ain’t happening. Their window has started to close.

    • gofinsgoheatfloria - Jun 30, 2014 at 7:51 AM

      Riley did wonders filling the roster the last two years using nothing like the money he may have to work with if the opt-outs play out as they should. To talk only about the Heat’s current roster is to be willfully blind to that – and maybe also to the fact that that roster was better than those who predicted doom vs. Brooklyn and then vs. Indiana expected. But if it floats your boat, have a blast.

      • robigd - Jun 30, 2014 at 9:18 AM

        It had more to do with veteran key roll players taking LESS to play with LeBron than they could have gotten elsewhere. Giving Riley credit for being a great GM is like giving Erik Spoelstra credit for being a great coach.

  21. robigd - Jun 30, 2014 at 9:14 AM

    Lets not get so lost that we can’t appreciate what caused this mess in Miami in the first place. Gregg Popovich, his troops, and the greatest display of “real” basketball the NBA Finals have ever seen. No matter what the Heat do to re-tool, they will still have to get past the Spurs to get another ring, and LeBron will be a year older.

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