# Miami Heat Contracts: Offseason Math Explained

06/28/2013 04:39 am 04:39:08 | Updated Aug 28, 2013

MIAMI -- The Miami Heat schooled the NBA during the regular season and playoffs. Now comes the hard part, the math.

Here's an update to help make sense of the numbers.

LeBron James

2013-14 contract status: James is under contract for \$19 million next season, with two additional seasons on his contract. He holds a player opt-out for both the 2014 and 2015 offseasons, when he can become a free agent.

How the math works: No sooner did the championship horn sound on the 2013 title then the clock began running toward James' June 30, 2014 opt-out deadline. It will be a season-long reality.

2013-14 contract status: Wade is under contract for \$18.7 million next season, with two additional seasons on his contract. He holds a player opt-out for both the 2014 and 2015 offseasons, when he can become a free agent.

How the math works: Wade's knee issues make it possible he bypasses both his 2014 and 2015 opt-outs, unless he can get more years in return for less money.

Chris Bosh

2013-14 contract status: Bosh is under contract for \$19 million next season, with two additional seasons on his contract. He holds a player opt-out for both the 2014 and 2015 offseasons, when he can become a free agent.

How the math works: A trade could potentially alleviate luxury-tax burdens, but he also is the right Big Three fit.

Mario Chalmers

2013-14 contract status: The Heat have exercised their team option on Chalmers' \$4 million salary for 2013-14.

How the math works: At \$4 million, he stands as a value fit.

Ray Allen

2013-14 contract status: Allen has exercised his \$3.2 million player option for 2013-14.

How the math works: Count him in for 2013-14.

Mike Miller

2013-14 contract status: Miller is under contract for \$6.2 million next season, as the fourth-highest-paid player on the roster, with one additional season on his contract, a player option.

How the math works: Amnesty would save the Heat more than \$20 million over next two seasons. That could be his mid-July reality, although Heat President Pat Riley said he would like to retain Miller.

Shane Battier

2013-14 contract status: Battier is under contract for \$3.3 million next season on the final season on his contract.

How the math works: One more season and then retirement?

Chris Andersen

2013-14 contract status: Andersen will become an unrestricted free agent on July 1.

How the math works: Heat limited to maximum offer of \$3.2 million for 2013-14.

Udonis Haslem

2013-14 contract status: Haslem is under contract for \$4.3 million next season, as the fifth-highest-paid player on the roster, with one additional season on his contract, a player option.

How the math works: Mr. 305/954 a franchise fixture.

Norris Cole

2013-14 contract status: Cole is under contract for \$1.1 million next season, with the Heat controlling his rookie-scale draft rights for two additional seasons.

How the math works: Perhaps most cost-effective labor on the Heat roster.

Joel Anthony

2013-14 contract status: Anthony is under contract for \$3.8 million next season, with one additional season on his contract, a player option.

How the math works: A trade or amnesty (if Miller is traded) both are possibilities.

Rashard Lewis

2013-14 contract status: Lewis has exercised a \$1.4 million player option for 2013-14.

How the math works: Count him in for 2013-14.

James Jones

2013-14 contract status: Jones has exercised a \$1.5 million player option for 2013-14.

How the math works: Count him in for 2013-14.

2013-14 contract status: Varnado is under contract for \$789,000 next season, with one additional season on his contract, a team option. None of his 2013-14 salary is guaranteed until opening night.

How the math works: Will have to earn his keep during summer league.

Juwan Howard

2013-14 contract status: Howard will become an unrestricted free agent on July 1.

How the math works: Will be on speed dial for another mid-season call.