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Udonis Haslem will re-sign with Heat on smaller deal

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The Heat Lifer takes another pay cut to stay in Miami.

Steve Mitchell-USA TODAY Sports

Mr. 305 is returning to the Miami Heat, as if there was ever any doubt.

Udonis Haslem will reportedly re-sign with the Miami Heat and use a cap space exception, a source has told Ira Winderman of the Sun Sentinel. He also notes the "exception used for Haslem starts at $2.75M can be for two years, with 4.5 percent raise."

The reserve had a player option for $4.62 million next season, marking yet another time in his career he has taken a pay cut to benefit the Heat. CBSSports.com is reporting the new deal is a two-year, $5.6 million deal.

It appears that the Heat will not have any more cap room to sign any other major free agents with the last remaining exception used on UD, and will likely fill out the rest of the roster on veteran minimum deals and/or retain young players from their Summer League such as Justin Hamilton or James Ennis. The Heat could also conceivably trade Norris Cole and his $2 million deal to carve out more cap space.