Report: LeBron wants 1-2 year deal at max; Bosh five years starting at $11 million, Wade four-years starting at $12 million; agent denies
Jul 1, 2014, 5:01 PM EDT
UPDATE 5:01 pm: As you might expect, the CAA agent for Bosh and Wade doesn’t like the suggestions his players would take a massive pay cut. He denies it.
Everybody is likely spinning a little here. You can be sure that Miami’s “big three” gave Pat Riley some kind of salary framework for him to have an idea what he could spend in free agency. The numbers below may or may not be exactly accurate, but if they are not close Riley is not going to have his hands free to upgrade the roster in the way LeBron (and Heat fans) want.
It also is possible that this is the lowest the Heat players go and if Riley doesn’t use all that money Bosh and Wade will soak it up.
3:40 pm: LeBron James does not want to take the pressure off Pat Riley and Miami Heat management — not this summer, not when it’s over. However, Chris Bosh and Dwyane Wade are making the sacrifices to both give LeBron his cash and give Heat president Pat Riley room to maneuver.
We knew LeBron, Bosh and Wade presented their plans to Riley, providing a financial framework of what he would have to spend.
Now we have an idea what that is that is, thanks to John Canzano of the Oregonian.
That’s some big per-year sacrifices from Wade and Bosh, both of whom could have made $10 million more a year for the next two years (but do get more guaranteed money in the long run). Zach Lowe of Grantland said he heard flopped numbers — Wade $12 million to start, Bosh $10 million to start — but it seems in the same ballpark.
If this report is accurate what does that mean for Riley? What can he spend?
He has $12,918,609 in cap room below the projected cap of $63.2 million to spend, according to PBT’s own Dan Feldman who ran the numbers.
That accounts for LeBron at his max ($20.7 million, although he may take a little less), Wade at $12 million, Bosh at $11 million, Norris Cole who is on the books already, the rookie contract for Shabazz Napier and seven minimum-salary cap holds.
Riley could use all or almost all of that to go after one big player — Kyle Lowry or Luol Deng, although neither is willing to take a discout to come to South Beach — or he could divide it up into two or three players at and try and fill a few needs with quality players. After using up that cap space Miami would still have a $2,732,000 exception, which could be useful for Udonis Haslem (it can only be a two-year deal but Haslem isn’t playing longer than that anyway). After that it is all minimum contracts.
The ball is in Pat Riley’s court — he got a healthy chunk of cap space thanks to player sacrifices. Now he has to do something with it.
Oct 31, 2014, 9:00 AM EDT
Somehow, this seems to make sense for both sides
Oct 31, 2014, 8:30 AM EDT
Pregame rituals were really the best part of the game for Cavs fans.
Oct 31, 2014, 8:00 AM EDT
Faried said Smith shot his team out of the game after the Nuggets beat the Pistons.
Oct 31, 2014, 3:22 AM EDT
LeBron slides into the loser category for a night.
Oct 31, 2014, 3:10 AM EDT
The Clippers will take the win, but it wasn’t pretty.
Oct 31, 2014, 2:14 AM EDT
There is no official timetable for his return, but we are likely talking 6 weeks or more he is out.
Oct 31, 2014, 12:21 AM EDT
Players should never angrily engage with fans.
Oct 30, 2014, 11:40 PM EDT
Big time shot.
Oct 30, 2014, 11:16 PM EDT
Nobody saw this coming.
Oct 30, 2014, 9:45 PM EDT
The banner is back.
Oct 30, 2014, 8:43 PM EDT
Oct 30, 2014, 7:42 PM EDT
The Sixers CEO fired back, but taking on a Hall of Fame coach isn’t usually wise.
Oct 30, 2014, 6:55 PM EDT
It’s going to be a rough transition for the Knicks. New Yorkers have to be patient (not always their strong suit).
Oct 30, 2014, 6:15 PM EDT
It’s a sign Dan Gilbert is pulling out the checkbook to spend.
Oct 30, 2014, 5:25 PM EDT
The Spurs just got better.
Oct 30, 2014, 4:40 PM EDT
Look for a decision sometime after Christmas.
Oct 30, 2014, 3:55 PM EDT
The time the Nuggets center responded to a heckler
Oct 30, 2014, 3:11 PM EDT
Cleveland, as of a few days ago, reportedly hadn’t begun negotiations with Thompson
Oct 30, 2014, 2:35 PM EDT
Faried reveals Nuggets defensive game plan against Pistons
LeBron makes emotional return to Cleveland tonight, new Nike ad shows city standing together (VIDEO)
Oct 30, 2014, 1:55 PM EDT
The season is about process for the Cavaliers, but tonight is about celebration of home.
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