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insidehoops 07-17-2013 05:23 AM

Heat waive Mike Miller
The two-time defending NBA champions are using the collective bargaining agreementís one-time amnesty clause to waive Miller and cut his contract from its books, the Miami Herald learned Tuesday morning. The move allows the Heat to avoid about $17 million in luxury tax.

The Heat informed Millerís agent Monday night that the team would be using amnesty, according to a source. Itís hard to believe that a championship team would release a player who shot 61.1 percent from three-point range in the 2013 NBA Finals, but thatís the reality of the NBA under the new collective-bargaining agreement, which seemingly was designed to prevent dynasties and financially level the leagueís playing field.

Miami Herald

insidehoops 07-19-2013 12:26 AM

Re: Heat waive Mike Miller
Waived Tuesday by the Miami Heat through the NBA's amnesty-release program, swingman Mike Miller cleared waivers Thursday and is now a free agent.

Miller is now free to sign with the team of his choice, but cannot return to the Heat, through any means, until what would have been the expiration of his Heat contact in June 2015.

Teams had 48 hours to bid on an amount of Miller's Heat contract they were willing to assume, with no such bids made during the waiver period. Because of that, the Heat will receive only a fractional offset rebate toward their 2013-14 luxury tax.

-- South Florida Sun-Sentinel

insidehoops 07-19-2013 12:26 AM

Re: Heat waive Mike Miller
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.

-- South Florida Sun-Sentinel

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