03 June, 2017
Last February, the awful news came down that the blood clots in the lung that Chris Bosh had the previous season had returned, and therefore he couldn't play basketball or be involved in any physical contact. The Heat will not make that move until they feel they need that cap space, but they will make it official soon with the June 22 National Basketball Association draft approaching and free agency beginning on July 1.
The move will give the Heat approximately $37 million in cap space to try signing free agents this summer.
Once the formal application for waivers is made by the Heat, the team will immediately drop below the salary cap. Although it won't count toward the Heat's cap, Bosh is guaranteed the remainder of his current contract with Miami - $25.3 million for 2017-18 and $26.8 million for 2018-19 - but a lot of it will be covered by insurance.
The ruling is largely a salary-cap mechanism that allows the Heat to enter free agency unencumbered by the possibility of Bosh's salary returning to their payroll. Bosh nonetheless could return to the league at any time, provided can present medical evidence of fitness that meets league approval. If Bosh's contract had remained on the books, it likely would have prevented the Heat from making significant additions to their roster.
Bosh, 33, hasn't played since February 2016 because of blood clot issues.
June 2, 2017NBA fitness panel has allowed Heat to clear Chris Bosh's cap space.
Working that out was part of the motivation from the Heat's side during the discussions. "It got a little sideways at the end because of feelings and things of that nature".