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Free Agency Day 1 Round-up: Miami Heat

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July 1 marked the first day in NBA free agency, here's what happened concerning the Miami Heat

Derick E. Hingle-US PRESSWIRE

Free Agency Day 1 news for the Miami Heat

Pat Riley had a phone conversation with Pau Gasol. Gasol made $19 million last year in L.A. and would have to take a huge pay loss to sign in Miami, although he won't ever make that money again. Gasol has only had other talks with the Lakers, even though the Knicks are interested as well.

The Heat contacted Marcin Gortat, but talks stalled. Gortat apparently will stay with Washington for 5 years/$60 million. That was the prize for centers, and the cost was too much for Miami.

Reports were out that Wade was accepting a 4 year deal starting at $12 million and Bosh a 5 year deal starting at $11 million, but they were quickly debunked. However, there are also reports that the Heat are telling other FA's that they have about $12 million to spend on help, which does suggest a significant pay cut for Wade and Bosh, but not likely that steep.

Vince Carter has been linked to the Heat, but the Mavericks really want to re-sign him. Carter's 3PT% would have been tops among rotation players for the Heat last year. At 37, he doesn't make the Heat younger.

Yahoo reported that Wade, Bosh and James have agreed to a framework for their deals and are giving Riley time to put together help for the roster. Riley has been working, and he all hope that he can put something together and make the Big 3 stick around.

Kyle Lowry has talked with the Raptors and his former team the Rockets about signing with them. The Heat and Lakers both want to schedule sit down meetings with Lowry, but haven't been able to do so yet, Lowry is mulling it over. Lowry is the prize of the point guards in free agency and could likely demand $10-12 million/year. Lowry told the Raptors he would take a couple days.

Carmelo Anthony met with the Chicago Bulls, including Derrick Rose and Joakim Noah. He will meet with the Lakers later this week, but nothing has been said about the Heat. Anthony is the class of free agency and will take his time. If Miami wants any shot at him, they need a sit down meeting to convince him why a pay cut is worth it and how he fits on the team. Chances are slim, unless LeBron intervenes.

Joel Embiid tweeted for LeBron James to join him in Philadelphia, and then deleted it.

Dirk Nowitzki wants to sit down with LeBron James and pitch Dallas and the Mavericks to him. Seems unlikely.

Luol Deng has been linked to the Heat's interest, but it looks like he will demand more money than what Miami is willing to pay. He's also looked into the possibility of returning to Chicago.

So far, Miami hasn't snagged anyone but it is still very early. Often, these things take time, but sometimes they can happen quickly. Remember, when the Heat nabbed Shane Battier and Ray Allen, it was through a bidding process and eventually they chose South Florida.

Stay tuned, as each day will progress more and more until the July 10th official signing day.