Chris Bosh

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

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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.

Dion Waiters explains decision to sign with the Heat in an Instagram post

OKLAHOMA CITY, OK - MAY 24:  Dion Waiters #3 of the Oklahoma City Thunder reacts in the first quater against the Golden State Warriors in game four of the Western Conference Finals during the 2016 NBA Playoffs at Chesapeake Energy Arena on May 24, 2016 in Oklahoma City, Oklahoma. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Ronald Martinez/Getty Images)
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On Monday, Dion Waiters agreed to a one-year, $2.9 million deal with the Heat, far less than most people thought he would get as one of the few significant free agents still on the market. Tuesday afternoon, he posted an explanation on Instagram for his deal.

Here’s what he said:

I didn’t do it for the money… I did it for the opportunity to go out & ball & have fun. Everything else will take care of its self!!! I just felt like it was the best situation for me…& my family. I could have waited & got wat I wanted. But I rather be happy then miserable at the end of the day!!! Meaning Yu can have everything & still not be happy… #heatnation let’s get it!!! #provethemwrong #stamped #Philly

It seems clear, based on the market, that the kinds of offers Waiters was hoping for weren’t out there for him. In Miami, with Dwyane Wade gone, he’ll probably start at shooting guard and have plenty of opportunities to prove himself in hopes of landing a long-term deal next summer.

Report: Celtics sign second-round pick Demetrius Jackson to four-year deal

PHILADELPHIA, PA - MARCH 27:  Demetrius Jackson #11 of the Notre Dame Fighting Irish walks to the bench late in the second half against the North Carolina Tar Heels during the 2016 NCAA Men's Basketball Tournament East Regional Final at Wells Fargo Center on March 27, 2016 in Philadelphia, Pennsylvania.  (Photo by Elsa/Getty Images)
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While we wait for the Celtics to make a bigger move to trade for another star, they’re filling out the end of their roster. Sheridan Hoops’ Michael Scotto is reporting that they’ve signed Demetrius Jackson, the No. 45 pick in last month’s draft, to a four-year deal.

Jackson declared for the draft after his junior season at Notre Dame. Talent-wise, he has the chance to be a major steal for Boston — DraftExpress has him ranked as the 17th-best overall prospect in this year’s draft class. But he might not play much his first year. The Celtics’ roster is already crowded and there’s still the chance that they’ll make another move with some of their much-vaunted assets if the right star becomes available.

Hawks sign former Michigan State center Matt Costello

ST LOUIS, MO - MARCH 18: Matt Costello #10 of the Michigan State Spartans handles the ball against Darnell Harris #0 of the Middle Tennessee Blue Raiders in the second half during the first round of the 2016 NCAA Men's Basketball Tournament at Scottrade Center on March 18, 2016 in St Louis, Missouri.  (Photo by Dilip Vishwanat/Getty Images)
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ATLANTA (AP) — The Atlanta Hawks have signed undrafted rookie free agent center Matt Costello of Michigan State.

The 6-foot-9, 245-pound Costello averaged 5.7 points and 5 rebounds on the Hawks’ summer league team in Las Vegas.

Costello averaged 10.7 points and 8.2 rebounds as a senior at Michigan State. He holds the school’s career record with 146 blocked shots.

Terms of the deal were not released.

Watch Jamal Crawford drop an effortless 44, hit game winner at Seattle pro-am

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Jamal Crawford knows how to get buckets.

He does it against NBA level defenders, so put him in a free-flowing pro-am — let’s say the Seattle pro-am in his hometown — and he barely breaks a sweat dropping 44. And nailing the game winner.

Doc Rivers hopes to see a lot of that next season.