During this lockout shortened NBA season many team around the league have been working with individual health plans and other insurance needs because of all the injuries occurring The Miami Heat have been able to avoid any major injuries all year and they are healthy and ready to make a push for the championship now. The Heat’s roster was constructed with the goal of reaching multiple championships and Pat Riley and the rest of the ownership team have invested a large amount of money in players who are dedicated to fulfilling that vision.
Of course, the Heat salaries are enormously top-heavy, with the “Big Three” firmly in place. But how exactly does the Heat’s salary situation breakdown? How does the financial future look for the Heat? Follow along for more.
The “Big” Items
According to HoopsHype, the first “big” thing that you’ll notice is the Heat’s huge salary figure. Indeed, with a total figure above $78 million, they are over the NBA salary cap figure of $58.044 million.
The “Big Three” as expected receive the bulk portion of that figure. They are the big time players, leaders and big-money earners on the Heat. For the current season, LeBron James and Chris Bosh are at $17.545 million, while Dwayne Wade, who took less money to make it all work, is at $17.024 million. They will receive an approximate $1.5 million raise, each, next season.
For those wondering how long the Big Three will stay intact, they all have player options for the 2014-15 and 2015-16 season. They can choose to leave following next (2013-14) season.
Mid-Range Players and Tough Calls
There are some mid-range salaries on the team that are worthy of note. Mike Miller comes in at a hefty $6.2 million, while Shane Battier, Joel Anthony, Udonis Haslem and Mario Chalmers are between $3.2 and $4.0 million.
It’s tough to argue that these players are overpaid. As valuable role players, they certainly have a part to play in the team’s success. However, it would be nice to see the Heat get a good big man, for the interior presence (rebounding, shot blocking, defense) that they need.
The Heat do have a couple of choices to make. And, in all honesty, it could be a tough decision. Both Mario Chalmers ($4.0) and Norris Cole ($1.19) have a team option for next season. It will be interesting to see how the Heat approach the point guard situation, especially with Steve Nash becoming a free-agent. However, both players are doing quite well and both have the potential to improve.
Heat’s Economic Situation
For most teams, the Heat’s current numbers would be a major problem. Three huge contracts and a hefty difference between the salary cap and the team’s salary – for worse – would be a nightmare. However, it’s not in Miami.
With what many consider to be the best team in the league, the Miami Heat are doing fine. Any franchise would accept being over the cap and paying a fine for having arguably the most-talented team in the NBA. Having a superstar in Chris Bosh, along with two of the top five players on the planet is quite an accomplishment after all.
Miami has been responsible with their other spending in the past, the plan to form this championship contending team wasn’t born overnight. Coach Spoelstra and Pat Riley have taken pay cuts to make this all happen and unfortunately, some staff members were laid off as well. The tough times the team went through before signing LeBron and Bosh will all be worth it, if the team can win the championship and look to start a new dynasty.