NOW its official. Pen has been put to paper, and Mike Miller is now a member of the Miami Heat. Once the Michael Beasley trade was finalized (and we'll get to Beasley's comments later tonight), the Heat had the cap space to lock up Miller. The newest Heat sent out this message on his Twitter earlier: "It's official! Thanks to the Miami Heat Organization, Mr. Arison, Pat Riley, the fans and the players that made this happen!"
Right now the terms aren't out, but its going to be a 5-year deal worth around $25-$30 million. I'd say between $5-$6 million a year is a pretty good deal for the 6'8" sharpshooter who shot a career best 48% from downtown last season.
This signing also will put the Heat right at the salary cap, meaning that they can now go out and sign the vet-min guys like Zydrunas Ilgauskas and Juwan Howard, as well as re-sign Joel Anthony.