Here’s ESPN.com reporting on the Heat:

lebron james

As they chase free agents to join with their superstars, the Miami Heat are telling free agents they expect to have as much as $12 million in salary-cap space after hopefully getting LeBron James, Dwyane Wade and Chris Bosh to re-sign, sources told ESPN.com.

With James demanding a maximum contract starting around $20.7 million, this indicates that Wade and Bosh are possibly willing to take drastic pay cuts to help the Heat add talent to the roster.

This has freed up the Heat to become a potential bidder for free-agent point guard Kyle Lowry, whom they have contacted but not yet set up a meeting or progressed talks with, sources said. Lowry, after talks with the Raptors and Rockets, was taking a day or two to mull his options, sources said Monday night.