Tag: Miami Heat

Dwyane Wade

Dwyane Wade agrees to one-year, $20 million deal to stay with Heat


All that tension and those nightmare scenarios: false alarm. After weeks of reports of a rift between the Heat and Dwyane Wade about his future contract status, it only took until the second day of free agency for the two sides to work things out. For now, at least. As first reported by the Associated Press‘ Tim Reynolds, Wade has agreed to a one-year deal worth $20 million to stay with the only team he has ever played for.

Wade posted a video on Instagram featuring the tagline “My City, My Home, My House” and the caption “Let’s get it! #HeatNation”

Wade and his agent, Henry Thomas, both released statements about the new deal. Here’s Wade:

“It has been an honor and privilege to play with the Miami HEAT the past twelve years. The HEAT family and I have shared incredible moments over the years and I look forward to continuing our journey. I am extremely proud of my personal contributions in helping to build the HEAT franchise and for bringing three NBA championship wins to our great city. For my entire NBA career, Miami has always been my city and my home. I’m overwhelmed with the love and support the Miami community have consistently shown me and my family throughout the years.”

And here’s Thomas:

“This contract is a win-win for both Dwyane and the HEAT. Not only does Dwyane get to extend his Hall of Fame-worthy career with the only franchise for whom he has ever played, but he will have the flexibility next summer to sign an additional deal. And the HEAT gets to keep their franchise cornerstone while having the ability to build a championship-contending roster.”

This is a good compromise for both sides. It’s an improvement over the $16 million Wade was slated to make this season before he opted out of his contract, so it goes at least part of the way toward repaying the money he’s left on the table in the past two summers while the Heat’s free agency situation has been in flux. And it’s only a one-year deal, so it won’t jeopardize the Heat’s efforts to chase Kevin Durant next summer. The most likely scenario is that this one-year deal is the Heat’s way of doing right by him now, and in the future he’ll sign a longer-term deal with a smaller annual salary.

This was really the only way this could have gone. With Wade’s health problems in recent years, he wasn’t going to get this kind of money from anybody else if he tested the market, and it would have been a complete disaster for the Heat to lose the player who has been their franchise’s cornerstone for 12 years. For both Wade and the Heat, it was good to get this out of the way now and not let it linger.

Report: Miami Heat’s Pat Riley will get dinner to try and woo LaMarcus Aldridge

Portland Trail Blazers

UPDATE: Pat Riley and the Miami Heat got their foot in the door — Riley will have a dinner meeting with LaMarcus Aldridge Thursday to try and convince him to come to Miami, reports Marc Stein of ESPN.

This is still a crazy longshot — they already have an arguably better version of Aldridge in Bosh — but the Heat are at least going to get to take their swings.


The Spurs are still the team to beat. The Lakers are getting a second chance to make a first impression. The Suns knocked it out of the park in their meeting and moved into contention. The Knicks never even got up to the plate.

And now the Miami Heat want to take a swing.

The Heat are trying to get a meeting with LaMarcus Aldridge, according to Adriam Wojnarowski of Yahoo Sports.

It seems a real longshot for a couple of reasons. First off, in Chris Bosh the Miami Heat already have a player with a similar skill set and style of play to Aldridge (and Bosh is the better defender).

Second, the Heat do not have nor can they easily create cap space. The only way to make this work is a sign-and-trade. They could sign-and-trade Bosh for Aldridge, but that is basically and even swap. In theory they could sign-and-trade Wade but they would never do that (and Portland doesn’t want him). Or, they could sign-and-trade for Luol Deng, Josh McRoberts and other players. Not sure Portland does that either.

But the Heat at least want to get up to the plate. That would put them ahead of the Knicks.

Who is left on the board after wild first day of NBA free agency?

Memphis Grizzlies v Portland Trail Blazers - Game Three

That was insane.

NBA teams agreed to $1.3 billion in contract money in the first 24 hours of free agency, in what was as hectic a first day as anyone can recall. The CBA worked as the owners intended — small market teams did just as well (actually, much better) than the big markets and most free agents took the extra money and security their current teams could offer. Guys stayed home (19 out of 26 guys did not change teams of the early signings).

So who is left on the board as we head into Day 2? Here are the biggest names out there still.

LeBron James — Like he’s leaving Cleveland. He’s a free agent in name only.

Marc Gasol — He also is out there in name only, the Grizzlies will have a deal with him by the end of the day. It’s just that the deal is being worked out in Spain, in between tapas and siestas, so it’s moving at a different pace.

LaMarcus Aldridge — He has a couple more meetings on Thursday, including with the Knicks and Raptors, before sitting down and figuring out where he wants to play next. The Spurs remain the front-runners, they impressed him with their pitch, plus he gets to go home to Texas and step straight on to a contender. However, Portland, Phoenix and everyone but the Lakers are still holding out hope.

DeAndre Jordan — The athletic center has had a few meetings, and it is thought to be a 50/50 decision between the Mavericks and Clippers. In Dallas he gets to go home to Texas and be a bigger part of the offense; but the Clippers offer more money, he likes living in Los Angeles and playing for Doc Rivers, plus they are legit title contenders.

Greg Monroe — Maybe the most open name on the board. The young center played for relative peanuts last season to get this moment, and the Knicks and Lakers are both very interested. However, both Portland and Milwaukee have made strong impressions and are in the mix. He’s going to get a max, he just has to decide where he wants to play.

Dwyane Wade — He and the Miami Heat need each other, and they are reportedly closing in on a deal. There isn’t much of a market outside Miami for his skills, unless he wants to take less money than he felt insulted by when the Heat offered it.

Robin Lopez — He has had interest from a number of teams, but for the Knicks and Bucks the veteran big man is kind of Plan B after Monroe. Lopez is going to get paid then bring solid defense and a hatred of mascots to wherever he chooses.

Wesley Matthews — He tore his Achilles last season and, while reportedly ahead of schedule on rehab, teams can’t expect him to be right for at least half if not all of this next season. That said, he has shown zero interest in taking a discount — he wants $15 million per year or more. Dallas is considered the front-runner for maybe the best “3 and D” guy in the league (because he can do more than just that), but other teams such as the Kings are interested.

Tobias Harris — With Orlando striking out on Paul Millsap (who stayed in Atlanta) it may take a max offer to get the Magic not to match (Harris is a restricted free agent). The Pistons, Lakers, Knicks and others have reportedly been interested, but will any of them put that much money on the table for the young forward?

Monta Ellis — The Pacers meet with Ellis on Thursday, and that may be a match. The Pacers need shot creation and playmaking, plus they have the money to pay. The Kings also are said to be interested, and more may come calling.

Other names on the board: Lou Williams, Rodney Stuckey, Jared Dudley, Ed Davis, Kosta Koufos and Patrick Beverley (he’s restricted, the Rockets can match any offer).

Report: J.J. Barea leaning toward signing with Heat

Dallas Mavericks v Miami Heat

The Heat have a starting point guard in Goran Dragic.

They have backup point guards in Mario Chalmers and Shabazz Napier.

And they might add yet another point guard in J.J. Barea.

David Aldridge of NBA.com:

Barea was reportedly seeking $3 million per season, which would fit into the taxpayer midlevel exception.

For their sake, I hope the Heat already have a deal lined up with Dwyane Wade before this news leaked. He shouldn’t accept a dime less than the max if Miami is willing to dip further into the luxury tax for Barea.

Of course, the Heat might not view this is a payroll addition. They might view it as the first step to trading Chalmers and/or Napier.

Still, $3 million would be a pretty penny to pay an undersized 31-year-old who relies on his quick first step.

Report: Heat, Goran Dragic agree to five-year deal worth $90 million

Orlando Magic v Miami Heat

Adrian Wojnarowski of Yahoo Sports:

Goran Dragic has reached agreement on a five-year, $90 million contract with the Miami Heat, league sources told Yahoo Sports.

Dragic’s deal will include a player option after the fourth year, league sources said.

It was expected from the moment the Heat traded for Goran Dragic at the deadline that they would be willing to fully commit to re-signing him, and a five-year deal worth $90 million is market value for someone with his skill set.

It’s also worth reminding that deals signed this summer will seem like bargains when the cap spikes in advance of the 2016-17 season.

Things now get interesting in Miami, where Dwyane Wade declined his player option and is threatening to leave in free agency if the Heat don’t meet his contract demands.

I joined Steve Kyler to preview free agency on the Basketball Insiders podcast, and we broke down the Wade situation in great detail. It comes down to this: The team can go over the cap to re-sign him, and whatever money they choose to allocate toward Wade won’t affect their ability to go out and get additional talent to add to the roster. It becomes a luxury (and repeater) tax issue, where Wade’s actual cost would increase substantially once penalties are taken into account.

I still think Wade stays in Miami, but that tax situation is real. The penalties don’t hit until the end of next season, however, so the Heat would theoretically have until the mid-February trade deadline to dump contracts to get under the tax line if they re-sign Wade to a big-money deal, and the team’s performance doesn’t meet expectations.