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Heat restructure Oladipo contract for more flexibility

Oladipo now has a two-year deal starting at $8.5 million.

Boston Celtics v Miami Heat - Game Seven Photo by Andy Lyons/Getty Images

When news initially broke shortly after 6 p.m. June 30 that Victor Oladipo would return with the Heat, it was reported to be a one-year, $11 million contract. But today, Anthony Chiang of the Miami Herald said the Heat and Oladipo agreed to restructure the deal for more flexibility.

Chiang said the new deal is a two-year contract worth about $18 million — with a first-year salary of around $8.5 million. The move gives Oladipo the security of a second year should he opt in next summer and the Heat flexibility to avoid a “hard cap” if they use more mid-level exception money.

Albert Nahmad wondered what happened between June 30 and today that led the two sides to renegotiate the deal. It’s hard to say, and we may never know. Kevin Durant and Donovan Mitchell remain with the Brooklyn Nets and Utah Jazz, respectively.

Thus far, the Heat have re-signed Oladipo, Caleb Martin and Dewayne Dedmon — but lost P.J. Tucker. That still appears like a regression from last season’s team that came up just shy of making a second NBA Finals appearance in three years.