Did the Miami Heat over pay Chris Bosh?

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Immediately after LeBron James bolted from Miami the Heat offered their next best player, Chris Bosh, a five year $118 million contract. Many are appalled that Bosh received such a large contract.

Not the only one

Bosh isn’t the only player to receive blotted contracts, Boston Celtic twenty-three year old guard Avery Bradley signed a four year $32 million contract and thirty year old Washington Wizards center Marcin Gortat signed a five year $60 million contract. I have written before about Bosh’s worth and how his skills merit a maximum contract. For the next two seasons Bosh’s salary will be the maximum, but the three following will be significantly less than the maximum.

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Bosh's deal in detail

Under the current collective bargaining agreement the maximum salary a player can be paid is either 35 percent of the salary cap or 105 percent of the player’s previous salary. For Bosh, 35 percent of the salary cap is greater than 105 percent of his previous $19 million salary. This year thirty-five percent of the salary cap is just over $20.6 million and next year thirty-five percent is projected to be just over $21.6 million.

Once the new television deals come through in 2016, the salary cap is expected to leap up to $85 million, making the maximum contract over $29.7 million. Looking at Bosh’s commitment of $118 over five years and taking into account the $42.3 he will receive in maximum contracts over the next two seasons, the three years left on the contract will be worth about $75.7 million.

Big money coming

Any way you slice the $75.7 million, Bosh will be making around $5.6 million less than the maximum contract. Each year the NBA salary cap can be expected to increase by five and a half percent, making the 2017-2018 salary cap nearly $90 million and the maximum salary $31.4 million.

Bosh will probably sign a contract which puts his salary in the $25 million dollar range, making his salary over $6 million less than the league maximum. The same is for the 2017-2018 season, about $94.6 million salary cap and $33.1 maximum salary making Bosh’s salary about $6.7 million short of the league maximum.

Judging by how well sweet shooting big men age in the NBA, (Dirk Nowitzki and Pau Gasol) Bosh will earn every penny of the $118 million contract.

                  |   Contract     |   Maximum    |  Difference
2014-2015 | $20,644,400 | $20,644,400 | $0

2015-2016 | $21,676,620 | $21,676,620 | $0

2016-2017 | $24,093,784 | $29,750,000 | $5,656,216

2017-2018 | $25,232,467 | $31,386,250 | $6,153,783

2018-2019 | $26,352,729 | $33,112,494 | $6,759,765

Total: $118,000,000

Miami Heat

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