• O'Neal, Heat ready to sign 5-year, $125 million deal
O'Neal, Heat ready to sign 5-year, $125 million deal
By News Wire Reports
August 2, 2005
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 today at 10 a.m. MDT, 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 is 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 a game), double-doubles (43) and rebounds.
A bruised thigh, suffered late in the regular season, limited his playoff effectiveness; the Heat was 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 might trade Jones to the Memphis Grizzlies for point guard Jason Williams and small forward James Posey.
The Heat also has met this off-season 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.
The Heat already has agreed to a five-year deal worth just more than $30 million with forward Udonis Haslem, yet is 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.
Jones, a perennial league leader in assist-to-turnover ratio as well as being one of the NBA's top three-point shooters, met with the Cleveland Cavaliers - a team in desperate need of a point guard - over parts of Sunday and Monday, and is believed to be considering offers from both the Heat and the Cavs.
Other already-agreed-to deals that could become final today 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.
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