Bye, Bye Mike Miller: Heat to Use Amnesty Clause
Despite reports that the Miami Heat would not use the NBA's amnesty clause this offseason, several Heat beat reporters are tweeting that Mike Miller's agent has been informed that the veteran would be waived under the rule.
From The Palm Beach Post's Ethan J. Skolnick:
Just said this on @TheTicketMiami: from what I am hearing from multiple sources, the Heat are likely to amnesty Mike Miller today.
— Ethan J. Skolnick (@EthanJSkolnick) July 16, 2013
And The Herald's Joseph Goodman:
Mike Miler's agent was informed Monday night that the Heat will be using the amnesty clause on Miller, the Miami Herald has learned.
— Joseph Goodman (@JoeGoodmanJr) July 16, 2013
The amnesty clause as negotiated under the current CBA allows a team to waive one player each offseason who has been with the team since before the 2011-12 season. That player's salary will not count toward the team's salary cap. Other teams are allowed to claim the player at a reduced rate (with the waiving team still paying the difference between that and his current salary).
Unfortunately for Miller, the move makes dollars and sense for the Miami Heat. Miller has the fourth highest guaranteed salary behind LeBron James, Dwyane Wade and Chris Bosh. He would have received $12.8 million over the next two seasons.
ESPN's Brian Windhorst explained the situation and possible taxes the Heat could face by keeping Miller:
With the help of ESPN salary guru Nick Silva, we know the Heat are currently looking at a payroll of more than $88 million and are $16.4 million over the luxury-tax threshold. Last season, that would've cost them $16.4 million in tax. In 2013-14, that will cost them nearly $33.6 million in tax.
If the Heat use the amnesty on Miller, it will save them nearly $17 million in taxes and knock their projected bill down to roughly $16.9 million.
Bye, bye Miller. We'll miss you, your amazing ability to play with just one shoe, and your occasionally stunning three-point sprees.
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