According to Ethan J. Skolnick of the Palm Beach Post, multiple sources are reporting that the Miami Heat are likely to amnesty Mike Miller today.
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
Mike Miller is still owed nearly $13 million over the next two seasons, but amnestying Miller will save the Heat significant amounts of money with the new luxury tax. Via ESPN’s Brian Windhorst:
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.
In the history of the luxury tax, the Arison family has paid a total of $36 million and is facing nearly that amount for one season. Since signing LeBron James, Chris Bosh, Dwyane Wade and Miller in 2010, the Heat have paid a total of $19 million in tax, including $13.3 million this past championship season.
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.
This is contrary to what Pat Riley stated on Friday, that the Heat would not use their amnesty option this season, unless mandated by owner Micky Arison.
Miller only played in 59 games last season, averaging 4.8 points and 2.7 rebounds. But came through as a much needed spark in the NBA Finals, as most all you remember, after starting Game 4. Miller shot 61% from beyond the arch against the Spurs in the Finals.
And if you want to relive some of the pain from Game 6…
UPDATE: It’s official.
OFFICIAL: The @MiamiHEAT have waived Mike Miller per the NBA's Amnesty provision.
— Miami HEAT (@MiamiHEAT) July 16, 2013
Mike Miller will now go through the amnesty process. Teams under the salary cap can bid for Miller’s services, but if he goes through without a bid, he will be free to sign with the team of his choice. The Miami Heat will pay Miller $12.8 million, none of which will now count against the salary cap.