Report: Heat talk Odom deal, Riley says

[Cajun Celtic]

The Miami Heat have discussed a Lamar Odom deal that would approach the $9 million salary the free-agent forward nearly agreed to last week with the Los Angeles Lakers before talks broke down, the South Florida Sun-Sentinel has reported.

Pat Riley, addressing Heat season-ticket holders in a two-day session Thursday and Friday that was closed to media, said the Heat was also monitoring Carlos Boozer's status with the Utah Jazz but had not entered discussions on acquiring the forward.

Riley said the team could add Odom, Boozer or both without sacrificing its goals toward 2010's free-agent class, the Sun-Sentinel reported.

http://sports.espn.go.com/nba/news/story?id=4336149

[lon3lytoaster]

Do whats right, Lamar. You go to MIA and be happy long time!

[paintitgreen]

Okay, can somebody explain how this is possible. All they have is the mid level exception. They cannot make an offer anywhere near what LA has made. The difference in income taxes cannot possibly be enough to make up for a 3.4 mil salary difference. I get that with federal taxes, that 3.2 mil difference is already down to about $2 million. But can the state taxes on the difference really be that much? I have a hard time believing that.

And if so, doesn't that give teams in states that have no taxes not just an advantage, but an unfair one? When teams are limited to offering a certain amount, shouldn't it be the same amount? If state taxes make what should be the same offer vastly different, shouldn't that be taken into account? 

Leads me to think that they're talking about a trade with LA. How could that possibly work for the Lakers? Wouldn't they just say, no, if Lamar wants to leave, he can do it to take less money? Or will they think, well, Udonis Haslem is better than nothing?

I just can't see how this deal approaching a $9 million salary is in any way possible and need explanation.

[hpantazo]

Okay, can somebody explain how this is possible. All they have is the mid level exception. They cannot make an offer anywhere near what LA has made. The difference in income taxes cannot possibly be enough to make up for a 3.4 mil salary difference. I get that with federal taxes, that 3.2 mil difference is already down to about $2 million. But can the state taxes on the difference really be that much? I have a hard time believing that.

And if so, doesn't that give teams in states that have no taxes not just an advantage, but an unfair one? When teams are limited to offering a certain amount, shouldn't it be the same amount? If state taxes make what should be the same offer vastly different, shouldn't that be taken into account? 

Leads me to think that they're talking about a trade with LA. How could that possibly work for the Lakers? Wouldn't they just say, no, if Lamar wants to leave, he can do it to take less money? Or will they think, well, Udonis Haslem is better than nothing?

I just can't see how this deal approaching a $9 million salary is in any way possible and need explanation.

most likely, it means the corpse of jermaine oneal to the lakers

[JSD]

Okay, can somebody explain how this is possible. All they have is the mid level exception. They cannot make an offer anywhere near what LA has made. The difference in income taxes cannot possibly be enough to make up for a 3.4 mil salary difference. I get that with federal taxes, that 3.2 mil difference is already down to about $2 million. But can the state taxes on the difference really be that much? I have a hard time believing that.

And if so, doesn't that give teams in states that have no taxes not just an advantage, but an unfair one? When teams are limited to offering a certain amount, shouldn't it be the same amount? If state taxes make what should be the same offer vastly different, shouldn't that be taken into account? 

Leads me to think that they're talking about a trade with LA. How could that possibly work for the Lakers? Wouldn't they just say, no, if Lamar wants to leave, he can do it to take less money? Or will they think, well, Udonis Haslem is better than nothing?

I just can't see how this deal approaching a $9 million salary is in any way possible and need explanation.

Check this out:

Pat Riley confirmed that the Heat have been in talks with Lamar Odom and have prepared an offer that matches what the Lakers have put on the table, when accounting for Florida's lack of state income tax and other options regarding payments.

During a private discussion with season ticket holders, Riley also said that their goal of attracting a top 2010 talent remains their most important.

Via Sun-Sentinel


http://realgm.com/src_wiretap_archives/60631/20090717/miami_offering_same_money_as_lakers_to_odom/

[DinTN]

A realgm.com post explains it this way:


This was all answered earlier in the thread, but in regards to how Riley can promise Odom the same money using just the MLE ...

- Let's say Lakers are offering 4 years, $36 million. Due to state income tax differences, that's like being paid 4 years $32.7 million by Miami. Odom would receive the same "net" money in either contract after taxes

- So Miami signs Odom to a full MLE deal ($5.9 mill first season) with an opt out after one season

- Then he uses the option to become a free agent in 2010 when we have the cap room to reward him, at which point Riley gives him 3 years $26.8 million. If you're wondering, that's a contract starting at about $8 million and escalating from there. Add that 3yr $26.8 million contract, plus the $5.9 mill Lamar earned in the first season from the MLE, and it equals ...

4 years, $32.7 million from the Heat[/size]

Which again, nets Lamar the same as 4 years $36 million would in California (9% state income tax).


http://www.realgm.com/boards/viewtopic.php?f=20&t=928151&start=345

[StealthB]

http://sports.espn.go.com/nba/news/story?id=4336149

[paintitgreen]

A realgm.com post explains it this way:


This was all answered earlier in the thread, but in regards to how Riley can promise Odom the same money using just the MLE ...

- Let's say Lakers are offering 4 years, $36 million. Due to state income tax differences, that's like being paid 4 years $32.7 million by Miami. Odom would receive the same "net" money in either contract after taxes

- So Miami signs Odom to a full MLE deal ($5.9 mill first season) with an opt out after one season

- Then he uses the option to become a free agent in 2010 when we have the cap room to reward him, at which point Riley gives him 3 years $26.8 million. If you're wondering, that's a contract starting at about $8 million and escalating from there. Add that 3yr $26.8 million contract, plus the $5.9 mill Lamar earned in the first season from the MLE, and it equals ...

4 years, $32.7 million from the Heat[/size]

Which again, nets Lamar the same as 4 years $36 million would in California (9% state income tax).


http://www.realgm.com/boards/viewtopic.php?f=20&t=928151&start=345

Thanks. With regard to all the other posts, I know that all these sources are saying what Riley said, I read that in the first place; I was just looking for a rational explanation as to how it could actually happen.

Din, I appreciate that. It raises a ton of questions, but at least it provides an answer for my original one. So TP. However, it still seems to me this is just flawed.

First, I don't think you can have an opt out after the first season of a 5 year deal. I think you can only have one extra year after an opt out. So it would have to be a 2 year deal, with an opt out after one. No to 3 years, $27 mil but yes to 2 years, less than $12.5 mil? That just seems like too great a risk for Odom.

Second, this requires a type of collusion that is completely impermissible - similar to the kind of collusion that cost Minnesota draft picks after the Joe Smith fiasco. If Odom turns down a 3 year, $27-30 mil or 4 year, $36 mil deal from LA to take a 2 year, $12.5 or so mil deal, it's gonna raise questions when he opts out and gets the contract described. No way Stern allows that to happen.

But if it could happen, it answers my question, so thanks again.

[DinTN]

Reports saying Odom & Boozer are headed to Miami

http://twitter.com/mortreport

http://www.realgm.com/boards/viewtopic.php?f=20&t=928151&start=375

I'm very new here. Thanks for the Tommy Post, but not sure what it means.

[Edgar]

means the contrubition was appreciated by someone

man
heat will be good
just imagine blount coming off that bench 

but in sderious businesss theyre getting better
maybe orlando wont be the best team in florida anymore

[DinTN]

Thanks for the explanation.

Hope the Odom leaving LA is true.

[angryguy77]

Congarates miami, you might make it to the second round now. I dont see this making the Heat too much better. They would be solid but not great.

[jerrykid69]

I really dislike the Lakers, so losing Odom will only hurt them. Which I like!

[indeedproceed]

I dislike the lakers and I like Dwayne more than Lebron and Kobe..so I like this.

[PierceMVP08]

Dont know if any of you have seen this but it looks like the heat have made an offer to odom.  I havent seen any articles on espn or anything but it was posted on my newsfeed on facebook from the NBA profile, so it's legit.  There is a video on there from NBATV discussing it but I don't have the downloads on my laptop to view it.

Sorry if this has already been discussed but I did not see it up as a topic.  Also, apologize for the lack of info but just wanted to see if this had been brought up yet.