Report: Nets formally sign Tyler Johnson to $50 million offer sheet, Heat have three days to match

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After losing Dwyane Wade to Chicago, it seems likely the Heat will match this offer sheet. But now they have to make the call.

As has been expected, the Brooklyn Nets signed Tyler Johnson to a four-year, $50 million offer sheet just after the NBA’s signing moratorium ended at midnight, reports Adrian Wojnarowski of The Vertical at Yahoo Sports.

The Heat have three days to match the terms of the sheet to retain him – or lose him to the Nets.

The deal includes $18 million-plus and $19 million, plus “poison pill” provisions in years three and four of the deal designed to severely puncture the Heat’s salary cap and dissuade president Pat Riley from retaining Johnson.

The details of the “Gilbert Arenas rule” deal are this (he can only get the mid-level for a couple years):

Yr. 1: $5,628,000
Yr. 2: $5,881,260
Yr. 3: $18,858,765
Yr. 4: $19,631,975

If Miami matches, its salary cap hit would be the numbers above. For Brooklyn, the cap hit would be $12.5 for each of the four years of the deal.

This was a smart gamble by the Nets, a risk worth taking.

Johnson showed real promise for Miami in his first two seasons, part of a young core with Hassan Whiteside, Justise Winslow, and Josh Richardson that is now both the present and the future for the Heat. Johnson is very athletic — he has serious hops — and is a combo scoring guard whose shot is improving. He’s a pesky defender. There’s a lot to like; Miami just would have preferred to have him for a little less money than they will need to pay now.

But expect them to pay it.