Assuming a $53 million Salary cap for 2010, Miami has the ability to retain all of its rotation players, sign two first round draft picks and sign a free agent for around $10 million, assuming we are able to re-sign our guys for reasonable first year salaries as part of a long term deal. Just take a look at James Jones's contract to figure out how Riley can pull that off.
Jones was signed to a five year deal with partial guarantees in years 3-5, which made up for the lower starting salary (in comparison to his other offers) and allowed Miami to stay under the luxury tax in that season.
Signed
$4.1M Michael Beasley
$1.8M Daequan Cook
Partial Guarantee
$1.9M James Jones ($4.7M full salary)
Player Option
$16.4M Dwyane Wade (max deal at $16.6M)
$.9 M Joel Anthony
Team Option
$.9 M Mario Chalmers
$6 M Jermaine O'Neal
$4 M Udonis Haslem
$3 M Dorell Wright
$2 M Quentin Richardson
$1 M Jamaal Magloire
$1 M Carlos Arroyo
First Round Draft Picks
$1.5M Toronto #1 Pick (15th)
$1.2M Miami #1 Pick (18th)
That's $42.7M committed to 14 players (assuming they are all brought back, including James Jones), leaving $10.3M available for one player. The idea then is to put your thinking caps on, using these figures, and make decisions on these players. Who would you keep, who would you trade and who would you sign and for how much?
Here is a complete list of all of the restricted and unrestricted free agents in 2010 and 2011. It could be important to keep in mind who will be available in 2011 also:
http://sports.espn.go.com/nba/news/story?page=FreeAgents-10-11