Heat Waive Veteran Mike Miller

Source: Brian Windhorst / ESPN

The Miami Heat waived veteran guard Mike Miller via the amnesty provision ahead of Tuesday’s deadline.

Miller’s agents already have begun reaching out to other teams who may have interest in Miller, according to sources.

The move will save the Heat nearly $17 million in luxury taxes this season and reduce their expected tax bill, projected to be $33 million, by half. The Heat still owe Miller $12.8 million over the next two seasons as part of a contract he signed in 2010.

“I understand the business side of basketball,” Miller told The Associated Press. “It’s a combination of being very, very thankful for the opportunity that I’ve had, but it hurts that we had a chance to do something very, very special and I’d love to have been a part of it.”

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