In a potentially huge turn of events, the Miami Heat is attempting to work out a sign-and-trade agreement with the Cleveland Cavaliers for free-agent forward LeBron James, who already has agreed to join the Heat.
Should the Heat be able to pull off the maneuver, it would give Heat President Pat Riley unlimited resources to re-sign remaining current Heat free agents such as Udonis Haslem, Dorell Wright and Quentin Richardson -- whichever are not included in such a sign-and-trade -- without having to make those agreements work within the confines of the NBA's "soft" salary cap.
No matter the approach, James is locked into a Heat future.
In addition, such a maneuver would allow the Heat to retain its mid-level salary-cap exception for 2010-11, which it then could utilize to complete its planned signing of Washington Wizards free-agent swingman Mike Miller.
In essence, the Heat is completing its end game.
Regardless of the approach, the Heat is expected to sign Miller, the former University of Florida standout, to a contract in the five-year, $30 million range.
The Heat also is finishing off a sign-and-trade agreement with the Toronto Raptors that will allow recently acquired power forward Chris Bosh to receive a six-year free-agent contract instead of the maximum five-year contract an outside free agent can receive. The Raptors, in turn, will receive a package of draft picks from the Heat and a trade exception of roughly $15 million.
With a sign-and-trade with Cleveland, James also could receive a six-year package, instead of the maximum five-year deal an outside free agent could receive.
Such an arrangement would allow Bosh, James and re-signed Heat free-agent guard Dwyane Wade to each receive similar six-year, $125 million contracts starting at the league maximum of $16.6 million for next season.
The Heat still is addressing the possibility of retaining Haslem, the free-agent power forward. However, under its current salary structure, the Heat only could offer Haslem a veteran-minimum 2010-11 contract of $1.1 million. The Heat then could make up the money to Haslem in 2011-12 and beyond.
However, if both Bosh and James are acquired by sign-and-trade agreements, then Haslem could receive a Heat contract that would start in 2010-11 at or above his $7.1 million 2009-10 salary.
Haslem has had contact with several teams, with the Utah Jazz emerging as a suitor in the wake of losing free-agent power forward Carlos Boozer to the Chicago Bulls.
The Orlando Sentinel also reporting that Orlando Magic free-agent forward Matt Barnes said he has been in contact with the Heat. Barnes earned $1.6 million last season, opting out of the $1.6 million he otherwise would have earned this coming season.
With a sign-and-trade of James, Barnes then could slide into the lower-level, $2 million salary-cap exception the Heat would regain.
