Heat may regret missing out on $29.7 million. Kyle Lowry Deadline

In the end, the Heat determined that keeping point guard Kyle Lowry on the team, even at a hefty $29.7 million, was more valuable than having him off the team and losing his money.

There is evident logic in the decision, but there is also a significant disadvantage.

Last week, the Heat missed the deadline to employ a CBA maneuver called the stretch provision to waive Lowry and leave only a fraction of his contract on the books for this season. 

The Heat would still have had to pay Lowry $29.7 million, but it would have been stretched out over three seasons, totaling $9.9 million.

That would not have been enough to get the Heat under the luxury tax, but it would have gotten them considerably closer to the league's stringent "tax aprons."

 And if they had done so, they would have been able to sign lingering free agents like Christian Wood and, probably, another point guard using some available exceptions.

One benefit of keeping him is that the Heat now have $29.7 million in cap space to deploy in a trade, whether as part of a blockbuster Damian Lillard deal or for another player entirely.

A prospective Lillard trade with Portland would almost certainly include guard Tyler Herro, draft selections, and one or more young players (Jaime Jaquez, Nikola Jovic). 


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