1 p.m.: The Heat has expressed interest in Bulls free agent guard DeMar DeRozan, and DeRozan also has interest in Miami, according to two sources with knowledge of the situation. The Heat is among several teams in play for the six-time All Star.
But there are still significant challenges that could ultimately prevent a Heat/DeRozan marriage.
The biggest: At the moment, the only way that Miami could add him would be if he accepts the Heat’s $5.2 million non-taxpayer midlevel exception or even less likely, a minimum contract. Those are the Heat’s only non-trade avenues to add players.
That $5.2 million is below what DeRozan is seeking. If DeRozan took that, Miami would be just below the second apron and would not be able to re-sign Caleb Martin or Haywood Highsmith, who remain in a holding pattern while the Heat explores other options.
The other option for DeRozan with Miami, which would get DeRozan a salary more in line with his production: If the Heat trades a player earning decent money to a team with cap space --- either for draft picks or a player making significantly less. That would be necessary to do a sign-and-trade with the Bulls, because teams above the first apron cannot make sign-and-trades.
The Heat has 11 players under contract, not counting Orlando Robinson, whose $2.2 million salary isn’t guaranteed. If Robinson is removed from the equation, the Heat’s payroll - from a tax/cap calculation standpoint - is $180.2 million, counting minimum cap holds for two open roster spots. The first apron is $178.1 million.
Any team making a sign-and-trade would be hard capped at the first apron and could not exceed $178.1 million in payroll at any time after that, until the conclusion of next year’s NBA Finals.
The more onerous second apron is $188.9 million. Teams exceeding that apron cannot aggregate salaries in a trade, among other restrictions. The team is determined to avoid the second apron.
DeRozan, an All Star as recently as 2023, is one of the most accomplished players remaining in free agency. He averaged 24.0 points per game last season (17th), 4.3 rebounds and 5.3 assists. One of the most proficient mid-range shooters of his era, DeRozan shot 48 percent from the field last season. He has never been much of a three-point shooter, with a career average of 29.6 percent, including 33.3 last season (75 for 225).
ESPN’s Adrian Wojnarowski said of DeRozan: “There is interest in DeMar DeRozan. But the kind of contract that he might want just is not going to be available; it’s not left out there in the marketplace. The Bulls are more than willing to work on a sign and trade agreement to get him the years and money that he might want. With the new salary cap rules, those are much difficult for teams to do. The Lakers have interest... LeBron James has talked about a willingness to take significantly less money to open up their mid-level exception.
“In DeMar DeRozan’s case, it may look like a one-year deal somewhere, let the market reset next year. If you do a sign and trade, it’s got to be at least three years and then you’re locked into a three-year deal at a number you may not like. The Lakers are interested, but is there a mechanism that would allow them to create a slot to acquire him? That will be the harder part.”
At 6-6, the 34-year-old can play shooting guard, small forward or power forward.
