Beasley signs contract with the HEAT
by USA TODAY Sports, USA TODAY
The Miami Heat have signed small forward Michael Beasley, who was released recently by the Phoenix Suns, the team announced.
The Suns waived Beasley on Sept. 3 after he was arrested on suspicion of drug possession.
According to a report in The Arizona Republic, the Suns bought out Beasley’s contract, which was $9 million. Writer Paul Coro reported: “(Suns President of Basketball Operations Lon) Babby negotiated to reduce Beasley’s salary for this season from $6 milliion to $4.67 million and next season’s guaranteed $3 million of a $6 million salary to $2.33 million. Using the waive-and-spread provision of the collective bargaining agreement, the Suns will spread that $2.33 million in payment and cap hits over the years to $778,000 annually. The buyout, along with the ability to spread next year’s salary, creates $1.4 million in cap space this year (now about $6.7 million of total space) and $2.2 million more of cap space next year.”
“The Suns were devoted to Michael Beasley’s success in Phoenix,” Babby said when the team waived Beasley. “However, it is essential that we demand the highest standards of personal and professional conduct as we develop a championship culture. Today’s action reflects our commitment to those standards. The timing and nature of this, and all of our transactions, are based on the judgment of our Basketball leadership as to how best to achieve our singular goal of rebuilding an elite team.”
Beasley, who was originally drafed by the Heat in 2008, has averaged 14.1 points in his career. With the Heat from 2008-10, Beasley averaged 14.3 points and 5.9 rebounds.
“Michael had the best years of his career with us,” Heat President Pat Riley said via the team’s Twitter. “We feel that he can help us.”