This is from a live chat with ESPN’s Chris Sheridan when “William”, from Minnesota, asked Sheridan this question;
Chris, you mentioned the possibility of Beasley being traded in Miami. Any chance a trade between the Wolves and the Heat could happen? Kahn is looking for a young star. [Michael] Beasley still have potential…
Then Sheridan responded;
There are two teams that I believe might take on Beasley in what would be a lopsided cap-clearing trade for the Heat that could be agrred to by June 30 but could not be announced until the new cap is set July 8: Minnesota and New Jersey. Both are going to have loads of cap room, and neither is a particularly attractive destination for free agents. The solution: Acquire players via trade into their cap space. Example A: Miami offers Beasley, Cook, James Jones, $3 million and a future No. 1 to Wolves for basically nothing. The Heat thereby clear all their contracts and get their payroll down to zero (besides Wade), and Minny gets the No. 2 pick of the ’08 draft and a future No. 1.
I have to do a little checking to see how this is possible for the Wolves to give “basically nothing” and get Beasley, Dequean Cook, and James Jones AND a future first-round pick from Miami. While this sounds intriguing, this specific deal ties the Wolves financial to Beasley and Cook for two years, and Jones for four years.
Side-Note – Who the HELL signed James Jones to a $4M a year contract?!?!? I know Miami signed him as a free agent, but that is ridiculous.
That is a total of $10M for those players this season alone and even more next years when the team will look to sign Ricky Rubio. The Wolves have about $21M in cap space right now with only eight players under contract.
You add the $4.47M for the three first round picks, based on the rookie salary structure, and the $10M from this deal, the Wolves have just over $6.5M left to sign players.
I have a post coming when we get closer to the draft which will look at the financial situation of the Wolves, but that is the very short version.
I would like this rumor more if it did not include Jones, but I am sure that is something Miami will demand.