Heat release Mike Miller through amnesty provision
Fort Lauderdale Sun-Sentinel | Jul 16 0 0The Miami Heat have waived swingman Mike Miller through the NBA's amnesty-release program.
By waiving Miller and his $6.2 million contract for next season, the Heat realize a savings of $17 million on the NBA's luxury tax for this coming season, with that savings to rise to upward of $40 million over the next two seasons.
Under amnesty rule, Miller is now ineligible to return to the Heat until after the 2014-15 season.
It also means no other Heat players can be amnestied for the balance of the current collective-bargaining agreement.
The annual weeklong amnesty period ends at 11:59 p.m. Tuesday, with the Heat having pursued trade options before making the amnesty decisions on one of the most popular players in the team's locker room.
The amnesty program, adopted at the conclusion of the 2011 NBA lockout, affords eligible teams with eligible players a one-time opportunity to release a player without having that player's salary count against the luxury tax or salary cap.
For the Heat, only six players were eligible for an amnesty release this offseason, with a requirement that they had to have been under contract prior to the end of the 2011 NBA lockout. The six were Miller, LeBron James, Dwyane Wade, Chris Bosh, Udonis Haslem, and Joel Anthony.
Miller and Anthony had been the primary amnesty focus because of their lack of playing time in recent seasons. Had the Heat instead made the amnesty move with Anthony and his $3.8 million salary for 2013-14, the team would have realized a luxury-tax savings of $9.5 million off its 2013-14 tax bill. It is possible Anthony still could be traded, another means to lower the Heat's tax hit.
Tuesday's move means that even if Wade's balky knees do not come around, the Heat will be on the hook for his luxury-tax hit for the next three seasons.
Prior to the decision with Miller, the Heat were facing a $33 million 2013-14 luxury-tax payment to the NBA in addition to their payroll costs.
The Heat were one of 13 teams still eligible to make an amnesty cut by Tuesday's deadline, with the rest of the league's 30 teams either having previously utilized the mechanism or lacking eligible players to do so.
Released under the provision this past week have been Los Angeles Lakers' Metta World Peace, who since has signed with the New York Knicks, Charlotte Bobcats forward Tyrus Thomas and Toronto Raptors forward Linas Kleiza.
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