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The move puts the Heat below a punitive luxury tax apron and creates a $9.45 million trade exception.

The University of Colorado made the splash of the off-season when they hired Deion Sanders as head coach.
Sanders immediately brought a swagger, new attitude and increased expectations to Boulder.
But he also brought an incredible amount of roster turnover.
And while the Buffaloes didn’t exactly have the strongest roster during the 2022 season, not everyone is convinced the massive influx of transfers will be that successful.
In fact, according to Athlon Sports, one anonymous Pac-12 head coach said he believes it’s a “lose-lose” situation.

Derrick Rose has reportedly agreed to a two-year deal to join the Grizzlies, according to ESPN’s Adrian Wojnarowski.
Ian Begley of SNY-TV first reported the news. Rose’s deal is reportedly worth $6.5 million, according to The Athletic’s Shams Charania.
Rose returns to Memphis 15 years after playing his lone season at the University of Memphis, where he led the Tigers on a NCAA Final Four run and an unforgettable battle in the 2008 men’s national championship game against Kansas.

Pat McAfee was thrilled to elevate The Pat McAfee Show from FanDuel to ESPN in May on a reported five-year, $85 million contract, according to Andrew Marchand of the New York Post.
However, on Friday, ESPN laid off a long list of high-caliber on-air personalities that include NBA analyst Jeff Van Gundy, longtime television personality Max Kellerman and former NFL star Keyshawn Johnson as well as Monday Night Countdown host Suzy Kolber to name a few.

Kyrie Irving returning to the Mavericks this offseason was widely considered the most likely scenario for the eight-time All-Star. Even so, in the lead-up to NBA free agency—which opened Friday evening—multiple reports indicated that he would be exploring other options, even as the market for his services seemed relatively small.
The Lakers, led by Irving’s fellow former Cavaliers star LeBron James, had been linked to him for a year.

Fred VanVleet is Houston-bound, Klutch Sports CEO Rich Paul and agent Erika Ruiz told ESPN’s Adrian Wojnarowski.

The NBA’s free agency period is off to a hot and heavy start, with over $1 billion worth of contracts reportedly agreed to in the opening hours. Even without any superstar names on the market, teams have been swift to scoop up the talent available. Here are four deals I especially enjoyed during the initial rush of signings.
Draymond Green, Warriors: 4 years, $100 million

Green has played all 11 seasons of his NBA career with Golden State.

DeMaurice Smith spoke to Yahoo Sports and canvassed a tenure as NFLPA executive director that got “the union back to being a labor union.

Fred VanVleet and the Rockets reportedly agreed to a three-year, $130 million deal, according to ESPN’s Adrian Wojnarowski.
The former Raptors star, who signs the first max contract of the summer in the NBA, was one of the Rockets’ top targets in this year’s market as a veteran point guard who should help a core of young stars in Houston.
Earlier this month, VanVleet declined his $22.8 million player option, becoming a free agent after seven seasons in Toronto. VanVleet, an undrafted player in 2016, made a name for himself with the Raptors.

Friday was a brutal day at ESPN as a number of big-name on-air personalities lost their jobs in the latest round of layoffs at the sports network.
Lead NBA analyst Jeff Van Gundy was the first stunner of the day and then we later learned that NBA analyst Jalen Rose and longtime NFL personality Suzy Kolber were also a part of the changes at ESPN.
One of ESPN’s biggest shows, College GameDay, also suffered a huge loss as David Pollack was also reportedly laid off after spending the 12 years with the network.