With a sequence of events as massive in scale as the LeBron-Bosh coup, we all knew it couldn’t be simple. Sure, LeBron James, Dwyane Wade and Chris Bosh could have each theoretically signed free agent deals outright with the Heat, but doing so would’ve likely left Miami in a painful salary cap situation despite their undeniably effective trio.
So instead, the Heat made two separate sign-and-trade deals to help secure their two incoming superstars to longer contracts that will also afford them more financial flexibility for the upcoming season.
The Heat sent two first-round picks (Miami’s lottery-protected 2011 first-round pick and a future pick that Toronto already owed to the Heat) to the Raptors in exchange for a signed Bosh, who will commit for six years rather than the maximum five the Heat could offer. Similarly, the Cavs signed James to a six-year deal in exchange for two future first-round and two second-round picks. Both the Raptors and Cavs will also acquire rather sizable trade exceptions, worth approximately $15 million each.
This is good news for Toronto and Cleveland; future draft picks may not be quite as sweet as LeBron or Bosh, but it does at least give those franchises something in return. They aren’t likely to be very high (if Miami is as good as they look today, we’re looking at the tail end of the first round), but there are still rotation players to be found that late if teams look hard enough. Plus, the huge trade exception acquired by each team could end up scoring impressive returns (Al Jefferson, anyone?).
Meanwhile the Heat have … well, I’m not sure. It’s not immediately clear how the Bosh and James’ deals will be structured, however the two of them and Dwyane Wade all took less money each year to free up room to bring in players to put around them. The details of how much has not yet leaked out.
However, according to our own Ira Winderman, the Heat may have cleared enough room to make a reasonable offer to power forward Udonis Haslem, though Haslem hardly fits any of Miami’s most glaring needs. This team is hurting badly at center, and while highly-skilled 5s don’t typically slum it with their free agent deals (Darko Milicic nabbed $20 million over four years), one would think that Haslem money could yield a better fitting big than Udonis. Haslem is a very useful player, but he’s just not the right guy for Miami’s coin.
Plus, the Heat’s biggest problem at present is depth, and surrendering every conceivable first-rounder for the next decade isn’t going to help that. NBA rules prevent Miami from trading first-rounders in consecutive years, so it won’t kill them too much in the short-term. Still, Miami hasn’t left themselves with all that many options to acquire talent going forward. The sheer magnitude of their three stars may render that irrelevant (as well as the allure for veteran free agents to sign cheap contracts in order to play on this team), but torching future flexibility is rarely a good thing.