The Miami Heat have been one of the most active teams so far in July. After missing out on Gordon Hayward, Heat President Pat Riley and GM Andy Elisburg wasted no time in making their next moves.
First, Dion Waiters was resigned to a four-year, $52 million dollar contract. Waiters reportedly had interest from multiple teams, but ultimately chose between the Heat and a one-year, $17 million offer from the Los Angeles Lakers.
In order to afford two more contracts large enough to both retain James Johnson and sign an impactful free agent, Miami needed to trade either Josh McRoberts or Wayne Ellington in a salary dump scenario. They found a willing trade partner for McRoberts with the Dallas Mavericks. The Heat also sent a 2023 second round pick and cash considerations to the Mavs. In return, Miami received center A.J. Hammons ($1.4 mil cap hold).
Within hours, the Heat had their next two free agents agreed to contracts. James Johnson will stay in Miami on a four-year, $60 million contract. The size of this deal had likely signaled that Wayne Ellington would have been waived by today’s deadline, but for whatever reason it did not. Ellington’s $6.3 million for next season now becomes guaranteed.
Miami had shown interest in Rudy Gay, and a deal may have been close, but Gay ultimately signed with San Antonio. Among the dominoes to fall following Hayward choosing Boston was the Celtics renouncing RFA Kelly Olynyk, making him unrestricted.
The Heat acted quickly, inking Olynyk to a four-year, $50+ million contract which includes a fourth year Player Option. Olynyk took to twitter to show his excitement.
https://twitter.com/KellyOlynyk/status/883117163334082561
Miami has already stated that they intend to play Olynyk as a stretch-four alongside Hassan Whiteside, as well as a backup center when Whiteside is off the floor. Rookie Bam Adebayo figures to get minutes as both a backup PF and C.
