All good things come to an end and in Mike Miller’s case, this was a pretty darn good thing that just ended. The Miami Heat today waived Miller under the NBA’s amnesty provision. In a purely financial decision, the Heat said goodbye to a player that played pivotal roles in both their recent title runs.
“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 on Miller to rise to upward of $40 million over the next two seasons, with the tax becoming even more punitive for the 2014-15 payroll.”
There’s no doubt that it was a tough decision for the Heat franchise and owner Micky Arison. With the luxury tax rules set the way they are, we can expect to see a change in the way teams are constructed over the coming years. While the amnesty provision has made it easier for teams to minimize luxury tax payments, the provision itself is a one-time-only deal. Player contracts will need to be more carefully planned moving forward and it’s fair to say many players will finish contracts on different teams to where they originally signed.
In a classy move, Arison took to Twitter after the news was released to thank Miller for his service to the Heat franchise:
— Micky Arison (@MickyArison) July 16, 2013
If the Miami Heat are going to three-peat this season, they’ll most certainly need some Miller-like spark come the playoffs. Now it’s a matter of figuring out who can provide it.
UPDATE: The Miami Heat took out a full page advertisement to thank Miller for his service.
Classy move by Miami.