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Shaq To Sign Extension With Heat

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James

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No surprise here. I just dont know where the Heat are gonna get all this money to be able to sign all the players they are after.

MIAMI -- Shaquille O'Neal will soon sign a long-term contract to stay with the Miami Heat, a move that can hardly be considered a surprise.

Yet when the league's moratorium on signings formally expires Tuesday at noon ET, the Heat could quickly find themselves in a barrage of other activity, including a trade that reportedly would send away veteran Eddie Jones and his $14.5 million salary.

Team owner Micky Arison said Monday that O'Neal's deal will become official "within a very short period" following the end of the moratorium, which was pushed back from July 22 to allow attorneys for the league and union to finish drafting a written version of the new six-year collective bargaining agreement.

The Heat are believed to be offering O'Neal a five-year deal worth around $125 million, although neither the team nor the 12-time All-Star center's representatives would comment Monday on financial specifics.

"I can assure you Shaquille will be in a Miami Heat uniform for a very long time," Arison told The Associated Press in a telephone interview from Italy.

It's unknown if O'Neal has formally opted out of the final year of his existing contract, one that would have paid him $30.6 million this coming season. Yet that move, whenever it happens, is merely a technicality that allows him to enter into a new deal.

"If Shaq stays in shape, I think he can be a great productive player for us for many, many years," Arison said.

The 7-foot-1, 327-pound O'Neal made an immediate impact during his first season with Miami, which acquired him in July 2004 from the Los Angeles Lakers in exchange for three players and a draft choice.

He averaged 22.9 points and 10.4 rebounds in the regular season, leading the league with a 60.1 field goal percentage. O'Neal ranked sixth in the league in blocks (2.34 per game), double-doubles (43) and rebounds.

A bruised thigh, suffered late in the regular season, limited his playoff effectiveness. The Heat were the No. 1-seeded team in the East, yet lost to Detroit in Game 7 of the conference finals, the finest postseason showing in the Heat franchise's 17-year history.

And still, Miami is apparently considering a major shake-up.

The Miami Herald, quoting unnamed league sources, reported Monday that the Heat may trade Jones to the Memphis Grizzlies for point guard Jason Williams and small forward James Posey.

Jones' agent, Leon Rose, did not return repeated calls from the AP on Monday. Arison said he can't discuss any trades.

A career 16.4-point-per-game scorer, Jones, Miami's third option this past season offensively, behind O'Neal and Dwyane Wade, averaged 12.7 in the regular season, 13.7 in the playoffs.

Williams, who averaged 10.1 points and 5.6 assists last season, said as the offseason began that his preference would be to stay in Memphis. "I would love to be here," he said, one day after Phoenix finished a first-round playoff sweep of the Grizzlies.

Posey was limited to 50 games this past season because of injuries, and only 18 starts. He averaged 8.1 points and 4.4 rebounds.

The Heat has also met this offseason with free agent forward Antoine Walker, a three-time All-Star who averaged 19.1 points and nine rebounds last season for the Atlanta Hawks and Boston Celtics.

They've already agreed to a five-year deal worth just more than $30 million with forward Udonis Haslem, yet are awaiting decisions from backup center Alonzo Mourning, who's considering retirement, and free agent point guard Damon Jones, whom Miami wants back, apparently regardless of whether Williams is acquired.

Other already-agreed-to deals that could become final Tuesday include guard Larry Hughes' move from Washington to Cleveland, forward Donyell Marshall from Toronto to the Cavs, center Jerome James from the SuperSonics to the Knicks, guard Antonio Daniels from Seattle to Washington, forward Stromile Swift from Memphis to Houston, swingman Bobby Simmons from the Clippers to the Bucks and guard Keyon Dooling from Miami to Orlando.
Source
 
5 years, 100 million - on ESPNews...
 
jeez thats alot for a player as old as Shaq.
 
Shaq made 30.6 bank last year, he took a 10 million dollar paycut...most dominant player to ever play the game.
 
He isnt effective anymore...and they signed him for five years??

lol at the Heat..
 
good im glad they locked him up for that much. now when it comes time for wade to get his max they will have to let go of other important players like jones.
 
i am not sure how the money breaks down over those 5 years but if my math is right that is an average of 20 mil a season. now to sign this deal he declined his option that was worth something like 30.5 mil, so wouldn't this deal actual save money for the Heat? sure it is much more long term but what about the cap for this year?
 

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