LeBron James will exercise early termination option in Heat contract, enter free agency

NBA/YAHOO
 
By Dan Devine
 
After his Miami Heat lost the 2014 NBA Finals to the San Antonio Spurs in five games, LeBron James said he was going to wait until after he'd taken his family on a postseason vacation to turn his attention to the future. One week later, it seems that the four-time Most Valuable Player is ready to get back to business ... and that the first order of business is to get free:

So, yes: LeBron James is going to be a free agent. Sound the alarms!

By exercising the termination option in his contract, James forgoes a $20,590,000 payday for the 2014-15 season, but instantly becomes the unquestioned prize of the summer's free agent crop. That said, James deciding choosing to opt out isn't surprising in and of itself, and it doesn't necessarily mean LeBron's packing his bags just yet. At this point, all the choice does is create more options for both James and the Heat.

When James and Chris Bosh joined Dwyane Wade to form Miami's "Big Three" in the summer of 2010, all three All-Stars signed contracts worth less than the maximum amount they could command on the market in order to allow Heat team president Pat Riley to build a strong, complete team around that scintillating core. The team made four straight trips to the NBA Finals and won two league championships, but found itself overwhelmed by the Spurs this June. The Heat had become utterly dependent on James' scoring, playmaking and defense amid Wade's decline and Bosh's struggles, and were unable to match San Antonio's impressive depth.

James has reportedly expressed reluctance to take another pay cut this offseason without assurances that Miami's brass will use any forsaken funds to augment the roster, rather than make moves to cut costs, like the luxury-tax-bill-winnowing amnesty of key role player Mike Miller before the 2013-14 season. Exercising the ETO not only creates the flexibility for James to entertain other suitors should he so choose, it also puts the onus on Riley, Heat owner Micky Arison and the rest of Miami's front office to put together an attractive, cohesive plan to make it worth James' while to stay.

At issue now, of course, is whether Bosh (set to make $20,590,000 next season) and Wade ($20,164,000) will follow suit and exercise their own ETOs. If they do, the Heat will have scads of salary cap space that Riley and company could use to refurbish a roster that, at the moment, features only veteran forward Udonis Haslem (a $4.62 million player option for 2014-15) and reserve point guard Norris Cole (due just over $2 million) and is in desperate need of reinforcements to keep its championship window open.

"We don't need to rebuild," Riley said during an animated season-wrapping press conference last week. "We need to retool. And that's what we're going to do."

By informing the Heat of his decision to opt out, James seems prepared to hold Riley's, and Arison's, feet to the fire. What comes next ought to be fascinating and could very well tilt the balance of power in the NBA for seasons to come.

112288

Bosh and Wade will be next.

then its time for Melo to step into the south beach scene.

Between Kevin Love, Carmelo Anthony and LeBron James going on the market I think Daryl Morey is going to need a prescription for psychotropic drugs because he's about to start hearing a dozen voices in his head.

I wonder how LAL is going to make a run at any of them, since free agents are how they usually build.  They have no shot at Love because they don't have anything Minny wants, but Carmelo and LeBron are just straight up free agents.  Will the Kobe deal come back to bite them in the ass because they committed too much of their cap space to him?  If they can get rid of Steve Nash (good luck with that) then maybe, but otherwise I say no. Kobe and Nash together is $33.2M, just for two players. I don't think they care, though. If they can sign LeBron they'll surround him and Kobe with d-leaguers for a year and then sign someone else when Nash is off the books.

I say we have no shot at LeBron and probably no shot at Carmelo (and I'm just fine with that).


Stay focused, Danny.  Get Asik from Morey so that he can sign whomever he wants.  The $10.3M TPE that Danny got from Brooklyn is starting to look like gold.  SOMEBODY will want to take Carmelo or LeBron and will need help with cap space to swallow a contract that big.


bob


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kdp59 wrote:Bosh and Wade will be next.

then its time for Melo to step into the south beach scene.

I can't see how these guys (LeBron, Carmelo, Wade and Bosh) would ever agree to play for about $13m to $13.5 per year to be on the same team. Bosh is set to make over $20m this year. He can't make that up through endorsements like LeBron can.
This is the last big payday for these guys (maybe not LeBron).
I think they are going to think more about money this time and less about joining forces.

This is truly a very positive development for the Celtics. As TJ said, the trio will be broken up in South Beach as reasons noted above. So you have 3 more players added to the free agent mix.

This wave of free agents was supposed to take place next year (2015). Most teams were positioning their salary structure for next year, not this year to take advantage of the free agent group i.e. Knicks & Lakers.

If the Celtics become creative, they could take advantage of this influx of free agents now rather then later.  It's now just not about Melo or Love.

112288

The best news for everyone else may be if they keep the Miami three together. Wade looks physically shot. His scoring ability will go down even more, and he is already a huge liability on defense that forces everyone else to make up for him.

The biggest question is whether Wade opts out. If he sticks with his current contract, he'll make almost $42 million the next two seasons, and he's not worth even half that, especially when you consider how much the rest of the team carries him, both by him missing so many games and by how he plays when he does play. He'll be lucky to finish two more seasons.

Not surprised in the least.

If the Big 3 is kept together and they add Melo, their defensive problems will not be helped.

If they part ways, it'll be interesting to see where they all sign.



KJ

Wade is not going anywhere, say what you want, Miami is stuck with his $20 million contract. A guy like Wade, declining skills, is not likely to forfeit this money in search for another ring. Listen to Steve Nash, he admits that he will not retire with $11 million on the table. Now I read that Garnett is coming back because he is owed $12 million or so. No matter how much they have made in their careers, the money is their's for the taking and they are going to take it.

Bosh is a different story, he may try opting out, his skills are still at a high level and if Miami wants him, they may have to match any offers he may get, or he may decide living in South Beach is where he wants to be.

Riley has already laid down the gauntlet. Let's see how devoted to the Heat they all are.

Rosalie

Breaking news: Miami Heat fans to become free agents on July 1st.

They were already free agents. Did you see them walk out during the 4th game? Good fans.

swedeinestonia wrote:Breaking news: Miami Heat fans to become free agents on July 1st.

That sums it up very well!

I'd be happy to see the so-called "Big Three" stay in Miami.  They've proven they're somewhere between vulnerable and helpless against a team that plays the right way.  I hope that will be the Celtics over time.

Sam

The longer Wade stays on the Heat, the better (for us).



KJ

Swede, that was one of the better lines of the year.

Sam

It would be interesting to see how many season ticket holders get cold feet.



KJ

Greed, why would not players share the money to play with a good team and win? How much money do these players need to get by? Players know how much a team has to spend with the cap. Why not share the money a become a great team. Most star players could just make it with the endorsement they make. Who ever makes the most money does not win except themselves.

All you have to do is listen to the espn interview with Steve Nash, he is owed $11 million, says he is NOT leaving it on the table. Same with KG. When it looked like KG was totally out of gas at the end of the season, now the announcement is he is coming back for his $12-13 million. All the money he has made over 19 years, never enough.

Celticspride,

These players create enormous expenses for themselves. Allen Iverson and Antoine Walker are truly great case studies in what not to do with your millions. They each made over $80M+ throughout the course of their careers and are basically broke at this point.



KJ

Pride,

For many of today's players, their primary means of self esteem are their careers.  And, while it may not seem to make sense, money is the barometer of their careers.  And, as Rosalie and KJ pointed out, some cannot ever have enough money to feel secure.  Sad but true.

Sam

Celticspride wrote:Greed, why would not players share the money to play with a good team and win? How much money do these players need to get by? Players know how much a team has to spend with the cap. Why not share the money a become a great team. Most star players could just make it with the endorsement they make. Who ever makes the most money does not win except themselves.

Pride,

I don't like doing long posts from my cell phone but I wanted to say 'welcome'.  More tomorrow.



bob


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k_j_88 wrote:Celticspride,

These players create enormous expenses for themselves. Allen Iverson and Antoine Walker are truly great case studies in what not to do with your millions. They each made over $80M+ throughout the course of their careers and are basically broke at this point.



KJ

Iverson made $155 million and Walker $108 million and both are broke. Guess they never heard of financial planners.

For some players, especially those who squandered their millions, the money is a big part of why they hang on to those last contracts. For guys like KG and Nash, I'd like to think they have their heads on straight and are financially secure and that the main reason they want to keep playing is that they don't want their careers as players to end. They think they can still play, and they don't want to stop being players until they absolutely have to.

http://espn.go.com/nba/truehoop/miamiheat/story/_/id/11156634/lebron-james-miami-heat-wants-maximum-salary


LeBron James wants max salary
Updated: June 30, 2014, 1:45 PM ET
By Brian Windhorst | ESPN.com



LeBron James will have a completely different process and a different priority when he opens his free agency at 12:01 a.m. ET Tuesday than he did in 2010, sources told ESPN.com.

MVP With 3 Different Teams?
If LeBron James ends up leaving the Heat, no player has ever won the Most Valuable Player award with three different teams, something he would have a chance to do.

Player MVPs Teams
Kareem Abdul-Jabbar 6 2
LeBron James 4* 2
Wilt Chamberlain 4 2
Moses Malone 3 2
*Two each with Cavaliers, Heat

-- ESPN Stats & Information
Teams that contact James will be informed that he wants no less than the maximum salary number for next season, sources said. The max number is projected to be $22.2 million. In 2010, James accepted a pay cut when he signed with the Miami Heat, taking less than the maximum salary to help make space for other free agents.

As of now, James is not scheduling any pitch meetings with teams; he will let agent Rich Paul handle the opening stages of talks. In 2010, James scheduled six meetings with teams at his offices in Cleveland over the first three days of July.

James' demand for the length of his next deal is in flux. After the Finals, James said flexibility was important to him, hinting that he may not be looking for a full four- or five-year contract.

This information could shake up the contenders and sends the message that James, who has never been the single highest-paid player on his team in his 11-year career, is not as willing to sacrifice money to improve the roster as he was in the past. That burden may now fall to teammates such as Dwyane Wade and Chris Bosh.

Currently, seven teams have the cap space to offer James a deal starting at $22.2 million next season: the Heat, Dallas Mavericks, Los Angeles Lakers, Phoenix Suns, Utah Jazz, Philadelphia 76ers and Orlando Magic.

The Lakers and Suns, known to be serious bidders, have the space to add James and other high-level free agents. The Heat have the most cap space at $55 million but have Wade and Bosh to attend to as well. Mavericks owner Mark Cuban said over the weekend that his team did not plan to make any max contract offers to free agents.

Without cap space, the only other way to get to James' requisite number is to execute a sign-and-trade, which would require the Heat's cooperation, or make additional moves to clear up cap space.

At least three teams currently without the needed cap space that are known to want to chase James are the Cleveland Cavaliers, Houston Rockets and Chicago Bulls. All three would need to execute significant shuffling and perhaps even offload star players to clear $22.2 million.

These details have led to a growing pessimism among teams that James is seriously considering leaving the Heat. ESPN reported Sunday that the Bulls and Rockets have scheduled in-person free-agent meetings this week with Carmelo Anthony as a top offseason target.

Over the weekend, ESPN reported that James, Bosh and Wade discussed financial terms on potential new deals with the Heat at a meeting last week in Miami. It is against NBA rules for teams to negotiate with pending free agents before July 1, but players are free to discuss contract terms among themselves.

If James follows through with his demands for a deal starting at the full max number and the Heat also re-sign Bosh and Wade, then Miami will likely not be left with appreciable salary-cap space even if Wade and Bosh accept pay cuts.

However, there are scenarios where the Heat could re-sign all three players plus veterans Udonis Haslem and Ray Allen and still be able to use the $5.3 million midlevel exception, the $2 million biannual exception and a $2.2 million trade exception to bring in some new role players.




bob
MY NOTE: How about a sign-and-trade with Miami? We give Rondo a big deal and we get LeBron. They're going to lose him anyway and now we have Smart.


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Bob,

Why would LeBron want to play for Boston without Rondo?

Because it's got better restaurants than Cleveland.