Owner Real Deal Posted June 29, 2010 Owner Report Share Posted June 29, 2010 The Miami Heat took another step toward maximizing its salary-cap space Tuesday, when it completed a buyout of the remaining three years on the contract of forward James Jones. Jones had a Wednesday deadline before his 2010-11 $4.65 million salary became guaranteed. Instead, the Heat invoked its right to pay Jones $1.86 million to walk away from the obligation, with Jones to receive similar payouts in each of the next two years, as well. However, the Sun Sentinel has learned that because of the way Jones' 2010-11 buyout payment will be amortized, his hit against the 2010-11 NBA salary cap will be $1.5 million, opening unexpected additional space.Click for more Quote Link to comment Share on other sites More sharing options...
Poe Posted June 29, 2010 Report Share Posted June 29, 2010 About time, I think everyone knew this was bound to happen at some point. Quote Link to comment Share on other sites More sharing options...
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