I assume Wade and Bosh will take cuts, and Lebron will too if he goes to Miami. Otherwise we'd hear the terms of their contracts already.
it says that there is a deadline for tonight. If I'm not mistaken, you can go over the cap to sign your own free agents, so as long as he signs before Wade, they can go over. It seems like they have a chance to sign one additional piece betwwen the signings of Bosh/LeBron and Wade. So, it appears that they may be thinking that as long as they sign Bosh/LeBron/Miller today and are still under the cap, they can give Wade a max contract tomorrow and still be within the rules. Does anyone know if this would be legal?
IIRC, it doesn't work that way. There is a cap hold for Dwayne Wades salary unless they renounce him, in which they can't go over the salary to resign him.
hey dd do they clear capspace by trading beasley but yet signing miller because if they trade beasley based on the offer they gave miller ..they would be giving even more money to mill than beasley..so how do they clear cap space through this move
If they pick up a trade exception when they move Beasley I'm assuming it does not impact the cap in anyway. They'll probably use that TE to pick up another player as well.
It appears they can have cap space with the official salary cap that's been announced. 2010-11 salary cap: $58.044M - $7,360,801 (Chalmers + Beasely + James Jones's after being bought out) Miami's cap space: $50,683,199 $16.5M x 3 = $49.5M (Wade + Bosh + LeBron) cap space: $1,183,199 - $4,962,240 (Beasely moved in S&T or to under the cap team) cap space: $6,145,439
Right now, they only have 7m committed to salaries with options on chalmers and anthony. If the big 3 stays to their word and it was reprted the tiered deal of 13m each, that puts the team at 46m in salaries on a 58m cap. Thats 12m of cap room, then when they hit the cap, they get mle and lle plus the minimums. You can easily fill a roster with 20m when you already have the big 3, chalmers,anthony,jones,and beasley.
They don't have Anthony and Jones. They have to renounce their rights (which they will do) in order to clear caproom. In Jones' case, they will have to buy him out.
You don't get the MLE if you are under the cap. Signing players and going over the cap in the same offseason doesn't count.
Thats even better. Then their payroll is less than 6m. Once they hit the cap, they get the mle and lle. Jones buy out is going to be nothing since its only 1.5m anyway.
http://members.cox.net/lmcoon/salarycap.htm#Q20 20. How do exceptions count against the cap? Does being under the cap always mean that a team has room to sign free agents? Do teams ever lose their exceptions? If a team is below the cap, then their Disabled Player, Bi-Annual, Mid-Level and/or Traded Player exceptions are added to their team salary, and the league treats the team as though they are over the cap. This is to prevent a loophole, in a manner similar to free agent amounts (see question numbers 29, 30, 31, 32). A team can't act like they're under the cap and sign free agents using cap room, and then use their Disabled Player, Bi-Annual, Mid-Level and/or Traded Player exceptions. Consequently, the exceptions are added to their team salary (putting the team over the cap) if the team is under the cap and adding the exceptions puts them over the cap. If a team is already over the cap, then the exceptions are not added to their team salary. There would be no point in doing so, since there is no cap room for signing free agents. So being under the cap does not necessarily mean a team has room to sign free agents. For example, assume the cap is $49.5 million, and a team has $43 million committed to salaries. They also have a Mid-Level exception for $5 million and a Traded Player exception for $5.5 million. Even though their salaries put them $6.5 million under the cap, their exceptions are added to their salaries, putting them at $53.5 million, or $4 million over the cap. So they actually have no cap room to sign free agents, and instead must use their exceptions. Teams have the option of renouncing their exceptions in order to claim the cap room. So in the example above, if the team renounced their Traded Player and Mid-Level exceptions, then the $10.5 million is taken off their team salary, which then totals $43 million, leaving them with $6.5 million of cap room which can then be used to sign free agent(s). Starting January 10 of each season, the Mid-Level, Bi-Annual, Larry Bird, Early-Bird and Non-Bird exceptions begin to reduce in value. For example, if there are 180 days in the season, then these exceptions (if they are still unused) reduce by 1/180 of their initial value each day starting January 10. If a team uses their $5 million Mid-Level exception on February 1, then the exception is actually worth $4,361,111. The Disabled Player, Bi-Annual, Mid-Level and Traded Player exceptions may be lost entirely, or the team may never receive them to begin with. This happens when their team salary is so low that when the exceptions are added to the team salary, the sum is still below the salary cap. If the team salary is below this level when the exception arises, then the team doesn't get the exception. If the team salary ever drops below this level during the year, then any exceptions they had are lost. For example, with a $49.5 million salary cap, assume it's the offseason, and a team has $41 million committed to salaries, along with a Mid-Level exception for $5 million, a Traded Player exception for $2.5 million, and an unrenounced free agent whose free agent amount is $2 million. Their salaries and exceptions total $50.5 million, or $1 million over the cap. What if their free agent signs with another team? The $2 million free agent amount comes off their cap, so their team salary drops to $48.5 million. This total is below the cap so the team loses its Mid-Level and Traded Player exceptions. There is logic behind this. The whole idea behind an "exception" is that it is an exception to the rule which says a team has to be below the salary cap. In other words, an exception is a mechanism which allows a team to function above the cap. If a team isn't over the cap, then the concept of an exception is moot. Therefore, if a team's team salary ever drops this far, its exceptions go away. The effect is that a team may have either exceptions or cap room, but they can't have both. So I'm guessing they will use the mle since its added to the cap already I guess.
It doesn't work that way. Mid-level exception Once a year, teams are allowed to sign a player to a contract equal to the average NBA salary, even if the team is over the salary cap already, or if the signing would put them over the cap. This is known as the Mid-level exception (MLE). The MLE may be used on an individual free agent or split among multiple free agents, and is available to any team that exceeds the salary cap at the beginning of the offseason. The Mid-Level Exception for the 2008-09 NBA season was $5.585 million.[2] The MLE is $5.854 million for the 2009-10 NBA regular season.[3] The Heat aren't over the cap at the beginning of this offseason. They have the MLE and the LLE NEXT offseason if they're over the cap but not next season. I'm just saving you from feeling the wrath of our capologist, BimaThug.
They should put a * by their titles. I mean I'm not impressed if they win if the players are going to take less to stack a team like that. They should allow parades for the team that came in 2nd.
cap space to absorb salary (TE is generated for other team) + beasley for bosh cap space to absorb salary (TE generated) + beasley for lebron beasley for nothing in return (to team with cap space, e.g wizards, nets, etc...)