Pat Riley said he regrets letting Dwyane Wade leave the Heat "What happened with Dwyane floored me"
- Thread starter JordanWearinThe45
- Start date
Are you suggesting that the same man who forced Stan Van Gundy out midseason in order to take over coaching duties for a championship contender and made Stan falsely claim it was for "family reasons" lacks integrity? The same man who left the Knicks for Miami in the middle of the night and faxed in his resignation?
Color me shocked.
fukk that greasy fukk.
Dr. Narcisse
Veteran
Art Barr
INVADING SOHH CHAMPION
Are you suggesting that the same man who forced Stan Van Gundy out midseason in order to take over coaching duties for a championship contender and made Stan falsely claim it was for "family reasons" lacks integrity? The same man who left the Knicks for Miami in the middle of the night and faxed in his resignation?
Color me shocked.
fukk that greasy fukk.
Me and you are exactly that indepth that I ain't even gone into the detail on those issue.
Yet, I always been about mentioning the details you just brilliantly disclosed and re-iterated.
That once ships were won were wiped away from riley's general mythos.
I still get pissed about the Stan van Gundy move.
That lack of good faith Miami move from ny was some comedic slick bullshyt too.
Those heatles and Shaq/wade ships wiped away.
the Riley past issues and lack of good faith moments from riley's general mythos in pr.
Art Barr
Basically
SadimirPutin
Superstar
again
Wade is/was the recruitment incentive in Miami...not Pat Riley...
without Wade Bosh and LBJ probably dont even answer Riley's phone call
Wade is/was the recruitment incentive in Miami...not Pat Riley...
without Wade Bosh and LBJ probably dont even answer Riley's phone call
Boonapalist
Superstar
Riley's been an egomaniac who's bought into his own hype too much since the end of his run with the Lakers
.
So I'm not surprised by him losing Bron and Wade.
. So I'm not surprised by him losing Bron and Wade.
Bosh has already made plans to work in Hollywood. Heat may use this insurance option and tool up for 2017/18.
Chris Bosh Status and Insurance
May 22nd, 2016
Chris Bosh is facing an uncertain future. That the Miami Heat could receive salary cap relief in the unlikely event that he does not return to play and it is determined that continuing to play would constitute a medically unacceptable risk is now widely known (and is described in detail in this post). There is also a separate, but related, concept at play: insurance.
This post describes how the Heat could collect insurance to offset Bosh’s future salary payments.
This post was written quickly, in answer to multiple questions I have received on the topic. While, as a person who has dealt with his own life-altering medical experience, I hate describing these types of issues, it seems irresponsible for me not to at least quickly address issues the Heat organization is surely considering. Hopefully these two posts will cover all related questions.
I do, however, have one request. I try to write posts which I believe are unique, in depth and insightful. I hope you agree. I do it strictly for you. I don’t get paid in any way (beyond donations). I therefore ask that you please not simply copy my work without providing proper credit. It feels rather awful to see it being exploited. If just you ask, I am more than willing to help out anyone and everyone in any way I can.
The NBA has for decades secured league-wide temporary total disability insurance coverage for the benefit of its member teams. Every team in the league is required to participate in the program, which covers approximately 150 players per season.
That the league-wide program is mandatory is done for a key reason: Doing so allows the insurance provider to mitigate its risk, more accurately project potential claims, to feel confident it is not being asked to provide coverage for only the most injury-prone players and, ultimately, to reduce the cost of coverage and make it more affordable.
Such a program is possible only in a highly regulated environment like that in the NBA, where individual payouts are limited by maximum salary rules and teams are required to spend at least 90 percent of the salary cap each season on player salaries.
Under the terms of the NBA’s insurance program, each team is required to submit for underwriting consideration five players, each of whom must be among the team’s five highest-paid players based on either the current season or total remaining salary. Teams may submit for consideration more than five players if they so choose.
Among the five contracts required to be submitted per team, the insurance provider has the right to exclude from coverage 14 per season (such as when it considers a player with a very large remaining contract to be a medical risk) and well as in limited circumstances to offer coverage to players with exclusions for pre-existing conditions. However, once a player is covered, the carrier can’t exclude the player for the remainder of his current contract.
As with any insurance, there is a premium that must be paid in order to have the coverage in place. Those amounts are customized to each player, and generally cost about 4 percent of a player’s salary.
With top NBA players often earning well above $20 million per season, teams are spending millions of dollars in premiums each season alone.
As with most insurance, teams have both deductibles and maximum payouts with which to contend.
The standard deductible is 41 regular season games (i.e., half the season).
After the 41-game waiting period, which can span multiple seasons, the insurance company pays 80 percent of the guaranteed portion of the player’s remaining base salary, up to a $175,000 per game maximum.
When he signed his five-year, $118.7 million contract in the summer of 2014, the Miami Heat’s Chris Bosh was a model of health spanning the entirety of his 11-year career.
Unfortunately, he went on to suffer a blood clot in the deep vein of his calf (called a deep vein thrombosis, or DVT). Pieces of the clot then broke off from the wall of the vessel, traveled via the bloodstream up the body, through the right side of his heart, and lodged in an artery of his lung, blocking blood flow through the lung – a very serious, even life-threatening, condition known as a pulmonary embolism (PE).
Bosh thankfully avoided a life-threatening situation. After treatment with blood thinning medication, he returned to play start the 2015-16 season. He indicated upon his return that, according to testing, he was not aware of any hereditary issues he may have that would increase the risk for recurring episodes, leading to optimism that he could resume his career without further incident.
Unfortunately, that was not to be. Just a year after his first incident, Bosh was diagnosed with a second deep vein thrombosis in his calf in February 2016. The good news for Bosh was that the second clot was significantly smaller, was caught early, and did not travel to his lungs. He was placed back on blood thinners while the clot resolved itself, and missed the remainder of the 2015-16 season during his recovery.
(For a detailed description of DVTs and Bosh’s prognosis, read this post.)
The unfortunate question for Bosh, his family, his doctors, and the Heat organization now becomes: What is causing Bosh’s blood clots, what lifestyle modifications may be necessary to avoid them in the future, and could those modifications include a potential extended stay away from the NBA or possibly even an end to his career?
The big issue here is Bosh’s health, but there are also basketball concerns for the Heat.
The team has now had two seasons derailed by Bosh’s medical condition. They also have $75.9 million in salary and salary-cap space tied to Bosh over the next three seasons.
If they feel he has suffered a career-ending situation, the Heat can waive Bosh and apply to clear his contract from its salary-cap ledger on Feb. 9, 2017, the one-year anniversary of his last game played.
But the Heat would be required to pay out the remainder of his salary whether or not his situation is ultimately career-ending. His payouts could, however, be offset by insurance money if he continues to miss time.
Given his consistent health at the time his current contract was executed in July 2014, there is little reason to assume that Bosh would have been selected as one of the 14 excluded from coverage that summer, or that his coverage was subject to any pre-existing condition exclusions. Bosh is therefore presumably covered under the league’s insurance policy.
Assuming Bosh is covered, the Heat can potentially begin to offset his salary obligations after he misses 41 regular season games. He missed the final 29 games of the 2015-16 regular season. If he misses more than 12 games to start the 2016-17 season, the Heat would start to collect insurance to offset his salary for every game he misses thereafter.
Bosh’s salary for next season is $23.7 million, or $289,525 per regular season game. Eighty percent of that figure is $231,620, which is greater than the $175,000 per game maximum payout. The Heat would therefore be obligated to pay his salary in full for the first 12 games missed, but would be eligible to receive a $175,000 per game offset for each regular season game missed thereafter.
If Bosh were to miss the entire 2016-17 NBA season, the Heat would collect a maximum of $12.25 million in insurance payouts, and owe just the remaining $11.5 million of his $23.7 million salary.
If Bosh were forced to retire for medical reasons, insurance would cover $175,000 of his salary for each of the 82 regular season games in the 2017-18 and 2018-19 NBA seasons as well, or $14.35 million per season. The Heat, in turn, would be obligated to pay only the remainder of his salary — $10.9 million of his $25.3 million salary for 2017-18, and $12.5 million of his $25.8 million salary for 2018-19.
Add that all up and you get this: Assuming he is covered, if Bosh were forced to retire for medical reasons, of the $75.9 million remaining to be paid on his contract, $41.0 million would be covered by insurance, while the remaining $34.9 million would be paid out by the Heat.
If Bosh is forced to retire for medical reasons, as confirmed by an independent doctor jointly selected by the league and players association, the Heat would therefore be in position to: (i) collect insurance for up to $41.0 million of his remaining $75.9 million salary, and (ii) clear the entire amount off the books, and free up the associated cap space, as early as February 2017.
If Bosh were to play even one game next regular season, the one-year waiting period for cap relief would be extended by at least a year. The insurance restrictions, however, are not as demanding. Bosh can attempt a return to play and if unsuccessful, the 41-game clock toward collection would resume for the Heat.
That, however, continues to remain unlikely. The hope, and the likelihood at this point, is that Bosh can return to play to start the 2016-17 season, and complete the remainder of his NBA career without further incident.
Notes:
Chris Bosh is (according to everything I know, which admittedly isn’t too much) a great human being, a great teammate, one the best players at his position in the NBA, and a perfect floor-spacing complement to Hassan Whiteside in the Miami Heat frontcourt. I hope that everyone hopes that he is able to resume his career without further incident.
Miami Heat would collect insurance on Chris Bosh after 12 missed games in 2016-17 | HeatHoops - A Miami Heat blog
seemorecizzy
Superstar
In Riley's defense, I really think he thought Wade was pump faking and didn't have the guts to leave
Wade been doing this for years and I think he got used to it and figured it would work itself it self out. Especially since his only options at the time were Denver and miluwakee. Who believed Wade was gonna go there ? Lol
The Bulls thing happened so fast and it was too late. If they were in the mix from the beginning, I guarantee Riley gets him his money
He'LL end up retiring there most likely, but this is what happens when you over play your hand.
Wade been doing this for years and I think he got used to it and figured it would work itself it self out. Especially since his only options at the time were Denver and miluwakee. Who believed Wade was gonna go there ? Lol
The Bulls thing happened so fast and it was too late. If they were in the mix from the beginning, I guarantee Riley gets him his money
He'LL end up retiring there most likely, but this is what happens when you over play your hand.
Biscayne
Ocean air
Other stars will join Miami, just based on the fact that it's Miami, AND the fact that every other team in the NBA and the other North American sports are owned by greedy White men also. Would you rather play in Miami and play for greedy White men, or play in Cleveland for greedy White men?
As much of a douche as Pat is, let's not act like LBJ went back to some GREAT benevolent cracker. Dan Gilbert is every bit as a snake as Pat Riley. The ONLY diffirence is, Cleveland is a city that can't sell it's self to free agents like Miami can, so LBJ had leverage off top when he went back to Cleveland. He has more leverage in Cleveland than he ever dreamed of having in Miami where his leverage was miniscule in comparison. But make no mistake, Cleveland, Chicago, LA, Toronto, Boston, GS, NYC, or where ever else could give a DAMN about the Black athlete. Pat just happens to be the hated cracker GM of the month(and rightfully so) but don't get it twisted partna, The Miami Heat show will keep rolling. Even through our upcoming struggle seasons. We'll sign a big name veteran in a couple years, and by then our youth will be battle-tested, and the show goes on.
