When the Federal Reserve Chairman speaks, the stock markets usually calms down. And so when Pat Riley speaks, we the Heat fans also calm down. Besides receiving the good news that he will be staying, at least for the next few years, as the Heat’s head coach, he also had quite a bit to add about everything else going on with the team. One of the greatest inspirational coaches of all time, Riley may be just as important an asset as any other free agent signing.
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Question: Do the Heat need to get older players?
Pat Riley: Hell yeah!

In addition to adding Penny Hardaway recently, the Heat picked up Smush Parker from the Lakers and they (duh) drafted Daequan Cook. So besides having stacked the ages of their new guards from young to old, did the Heat get any better at that position? They definitely needed point guard help, but will these players cut the mustard?
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Well, I just read a report on ESPN that is reporting that Steve Francis has reunited with the Rockets. According to the article, Francis turned down a higher offer from the Miami Heat. Reading into this, it seems that players around the league believe that the Heat’s immediate future is bleak; and it is hard to argue with that sentiment. The Heat have failed over and over again to land a quality free agent this off season and it seems that the problems are snowballing and affecting their current bargaining power. Nevertheless, there are still a few names on the market, including Juan Carlos Navarro.

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According to ESPN, Alonzo Mourning has decided to stay with the Miami Heat 1 more year before retiring. It ended about 3 months of what can only be described as sweat inducing suspense for Heat fans. Besides the blistering temperatures outside, fans, players and the team were nervously awaiting a decision from Zo. The indecision itself had become a story in the South Florida sports market. But, at last we have the news! Mourning will play for 1 more year and then retire… probably.

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The Miami Heat finished their Pepsi Summer League schedule today and everything went just as was expected; boring. Don’t get me wrong; these games are valuable for the younger players and they are great ways for coaches to evaluate talent. But that does not make them any less boring. Even out of the 2 Summer Leagues that were playing, the Heat played in the more boring one… Oh well. The games are over and it is now time to analyze. Hooray! Let’s recap all the action!

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Well, that did not take too long! The Miami Heat and Daequan Cook announced today that they have agreed to terms and signed a contract. Cook was a guard at Ohio State only for one year. He is slated to earn about $2 million for the first 2 years, and if the Heat exercise their option, he will be making $4 million. This mean that Daequan Cook will be able to participate with the Miami Heat’s summer league team.

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Not South of the border, but North; to Toronto. The ex-Heat sharpshooter became the first NBA player to officially agree to sign with a new team this Summer. The deal is rumored to be worth about $24 million over 4 years. This will be the fourth team for Jason Kapono; he was previously a member of the Cavaliers and the Bobcats. Kapono was a fantastic threat from behind the arc for the Heat this past season (shooting 51.4%) and he will be sorely missed.

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