The Miami Heat are out $7.5 million in salary-cap funds after watching the clock hit midnight. The team had received the money in a trade exception from Memphis in last year’s deal to acquire Andre Iguodala.
Trade exceptions allow teams to trade for a player and absorb a portion of their salary even if it puts them over the salary-cap threshold. It would have been a useful tool to make a deal for Kyle Lowry who is due $30 million. However, the deadline to use it came and went at 11:59 p.m. on March 22.
The Heat also lost out on an additional $4.7 million by getting rid of embattled center Meyers Leonard following his anti-Semitic outburst. If he was still on the roster, they would have qualified for the disabled player exception, which could have been spent on a midseason trade or in a buyout for a player on an expiring contract. That’s a whopping $12.2 million in lost funds for Miami, per South Florida Sun-Sentinel.
CBS Sports’ Sam Quinn did an excellent recap of the financial constraints the Heat are working under in 2021. Bam Adebayo’s max extension clouded the Heat’s cap picture a bit but the franchise is still projected to have around $20.6 million available this summer. Of course, they have big decisions looming on two key restricted free agents: Kendrick Nunn ($4.7 million hold) and Duncan Robinson ($4.7 million hold).
The Heat won’t quite have max cap space this offseason, thanks to Adebayo’s recent extension, but they will come relatively close. That will inform every decision they make at the deadline. They’ll have to weigh the value of adding a player now against the opportunity cost of lost cap space if they pursue anyone on a long-term deal. Assuming Robinson and/or Nunn are retained this offseason, this will likely be Miami’s last chance at anything close to max cap space for the next several years.
“The Heat can flaunt their lively city, no state income taxes, and an on-court style that could accommodate any player. And they have the cap space to make any type of move they want again.” @KevinOConnorNBA on Miami’s bright future:
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Heat Rule 4 Players Out versus Suns
Heat gurads Goran Dragic (back) and Avery Bradley (calf) were downgraded from questionable to out for Tuesday night’s home showdown with the Phoenix Suns. Udonis Haslem was already ruled out due to health and safety protocols and KZ Okpala joined the veteran big man a few hours before tip-off in Miami. The team trotted out a starting five featuring Kendrick Nunn, Duncan Robinson, Kelly Olynyk, Jimmy Butler, Bam Adebayo as they looked to snap a three-game losing steak.
Focused on tonight.
Starting 5 // @BiscayneBayBrew
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Tyler Herro ‘Sticking Point’ in Trade Packages
There was quite a bit of controversy — and hatred from Heat Nation — when team president Pat Riley refused to include Tyler Herro in any deal for James Harden back in February. Well, get those pitchforks ready because Herro appears to be a “sticking point” once again in a deadline deal for either Kyle Lowry or Victor Oladipo.
According to Michael Grange of Sportsnet, the Heat are dangling Duncan Robinson in a deal for Kyle Lowry. No surprise, the Toronto Raptors are pushing hard for Herro over Robinson. Meanwhile, ESPN’s Adrian Wojnarowski reported that the Heat are reluctant to offer a “premium package” (read: Herro) for Oladipo.
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Miami Heat Lose $12.2 Million in Possible Deadline Trade Money