The Heat have traded 21-year old forward Michael Beasley to the Timberwolves for a 2nd round pick in 2011, 2014 and cash considerations. The two teams will exchange first round picks down the road. Beasley played in 78 games (all starts) for the Heat last season and he averaged 29.8 minutes, 14.8 points, 6.4 rebounds, 1.3 assists and 1.0 steal per game. In his two years with the Heat, Beasley played in 159 games (97 starts) in which he averaged 27.3 minutes, 14.3 points, 5.9 rebounds and 1.2 assists per game. This was essentially a straight salary dump for the Heat to open up more cash for the Big Three.

25-year old small forward LeBron James has decided to sign with the Miami Heat. James is coming off back to back MVP seasons but he still doesn’t have any rings. He hopes coming to join Chris Bosh and Dwyane Wade in Miami will help him change that. He will have to adjust to being the #2 guy on the team as the Heat belong to D-Wade. James played in 76 games (all starts) for the Cavaliers last season and he averaged 39.0 minutes, 29.7 points, 7.3 rebounds, 8.6 assists, 1.6 steals and 1.0 blocked shot per game. He has now played in 548 games (547 starts) in his 7 years in the NBA and he has averaged 40.3 minutes, 27.8 points, 7.0 rebounds, 7.0 assists, 1.7 steals and 0.9 blocked shots per game. Despite only being 25 years old, LeBron James is #110 in NBA history in points scored (15,251), #100 in assists (3,810), #148 in steals (955) and he is #215 in blocked shots (482). The contract details will be ironed out later but it doesn’t matter as the Heat have the most awesome trio of players ever on the same team.

UPDATE: (7/9/2010) - The Heat have sent the Cleveland Cavaliers 2 future first round picks, 2 future second round picks and a $16 million dollar trade exception to complete a sign and trade deal for LeBron James. This allows the Heat to give James a sixth year on his contract.

The details have not been ironed out but 28-year old shooting guard Dwyane Wade is coming back to Miami. D-Wade played in 77 games (all starts) for the Heat last season and he averaged 36.3 minutes, 26.6 points, 4.8 rebounds, 6.5 assists, 1.8 steals and 1.1 blocked shots per game. He has now played in 471 games (463 starts) in his NBA career and he is averaging 37.6 minutes, 25.4 points, 4.9 rebounds, 6.6 assists, 1.8 steals and 1.0 blocked shot per game. Wade will continue to move up in the record books for the Miami Heat and pad his lead in other categories. D-Wade is already the all-time leader in Heat history in points scored (11,967), assists (3,126) and steals (862). He is also #6 all-time in games played (471), #9 in three pointers made (246), #7 in rebounds (2,298) and he’s #3 in blocked shots (461) in team history.

The details are murky as to whether Bosh is going to sign outright with the Heat or if they are going to do a sign and trade deal with the Raptors so Bosh can max out contract wise. Either way, Heat fans should rejoice as Bosh will give them one of the best power forwards in the game today. The 26-year old Bosh played in 70 games (all starts) for the Raptors last season and he averaged 36.1 minutes, 24.0 points, 10.8 rebounds, 2.4 assists and 1.0 blocked shot per game. He has now played in 509 games (497 starts) in his NBA career and he has averaged 37.0 minutes, 20.2 points, 9.4 rebounds, 2.2 assists and 1.2 blocked shots per game. This is a outstanding move on so many levels for the Heat as it was one of the convincing factors in D-Wade deciding to stay.

UPDATE: (7/9/2010) - The Heat have sent the Raptors their own first round pick (the Heat had acquired it in a trade) in 2011, the Heat’s first round pick in 2011 and a trade exception from them to agree to a sign and trade deal so they can give Chris Bosh a sixth year on his contract.

Rumors are floating around that the Heat might announce a trade at midnight involving Chris Bosh of the Raptors. The Heat have reportedly traded 24-year old point guard Mario Chalmers, 21-year old power forward Michael Beasley and 27-year old center Joel Anthony to the Raptors as part of a sign and trade for Chris Bosh. If that trade has indeed happened it’s domino #1 in the grand plan of the Heat this summer. They also want to sign LeBron James away from the Cavs and then re-sign Dwyane Wade. Even if the Heat can’t sign James they will be looking for another big free agent. Falling in that class would likely be Joe Johnson, Ray Allen, Paul Pierce, Amare Stoudemire, Carlos Boozer or David Lee. Look out for the Heat who are dead serious about building a NBA Champion.

UPDATE: (7/1/2010) - It appears that Miami journalist Dan LaBatard made up that trade scenario as the Raptors didn’t do it.