While the Heat weren’t considered a championship contender entering the 2018/19 season, they were viewed as a solid playoff team with the opportunity to increase their ceiling by making a trade for Jimmy Butler. Despite a steady stream of trade rumors in the fall, Butler was ultimately sent to Philadelphia instead of Miami, and the Heat’s star-less roster struggled to perform consistently during Dwyane Wade‘s farewell tour. With Wade calling it a career, the Heat are entering a new era in 2019/20 after missing the postseason this spring.
Here’s where things currently stand for the Heat financially, as we continue our Offseason Salary Cap Digest series for 2019:
- Ryan Anderson ($15,643,750) — Partial guarantee. Non-guaranteed portion noted below. 1
- James Johnson ($15,349,400)
- Justise Winslow ($13,000,000)
- Kelly Olynyk ($12,667,885)
- Dion Waiters ($12,100,000)
- Josh Richardson ($10,116,576)
- Bam Adebayo ($3,454,080)
- A.J. Hammons ($350,087) — Waived via stretch provision
- Duncan Robinson ($250,000) — Partial guarantee. Non-guaranteed portion noted below. 2
- Yante Maten ($100,000) — Partial guarantee. Non-guaranteed portion noted below. 3
- Total: $83,031,778
- Ryan Anderson ($5,620,885) 1
- Derrick Jones ($1,645,357) 4
- Kendrick Nunn ($1,416,852) 5
- Yante Maten ($1,316,852) 3
- Duncan Robinson ($1,166,852) 2
- Total: $11,166,798
Restricted Free Agents
Unrestricted Free Agents / Other Cap Holds
- No. 13 overall pick ($3,635,520)
- Luke Babbitt ($1,618,486): Non-Bird rights 6
- Udonis Haslem ($1,618,486): Bird rights
- Jordan Mickey ($1,618,486): Non-Bird rights 6
- Dwyane Wade ($1,618,486): Retiring
- Total: $10,109,464
Projected Salary Cap: $109,000,000
Projected Tax Line: $132,000,000
Offseason Cap Outlook
- Realistic cap room projection: $0
- Although Whiteside and Dragic have said they’re still undecided on their respective player options, it’s hard to imagine either player opting out. Assuming those options are exercised, that would push the Heat’s team salary over $132MM for just eight players and a first-round pick. Even if the club can shed some salary, staying out of the tax will be a challenge and creating cap room is extremely unlikely.
Cap Exceptions Available
- Trade exception: $6,270,000 (expires 2/6/20)
- Taxpayer mid-level exception: $5,711,000 7
- Anderson’s salary becomes fully guaranteed after July 10.
- Robinson’s salary guarantee increases to $1MM after July 15.
- Maten’s salary guarantee increases to $150K after August 1.
- Jones’ salary becomes fully guaranteed after August 1.
- Nunn’s salary becomes partially guaranteed to $50K after July 1 and to $150K after August 1.
- Babbitt’s and Mickey’s cap holds remain on the Heat’s books because they haven’t been renounced after going unsigned in 2018/19. They can’t be used in a sign-and-trade deal.
- This is a projected value. If the Heat reduce salary and stay out of tax territory, they could instead have access to the full mid-level exception ($9,246,000) and the bi-annual exception ($3,619,000).
Note: Minimum-salary and rookie-scale cap holds are estimates based on salary cap projections and could increase or decrease depending on where the cap lands.