It’ll cost him.
The Miami Heat have just finished their “4 Days of 40” celebration of 20-year veteran Udonis Haslem. The Miami native will retire at the end of this season. And at the Heat’s Family Festival on Sunday, Haslem reiterated his plan to be a minority owner of the team.
NEW: Insight on Heat’s lack of activity in the trade market. For those who have asked me about this, some things you should know. PLUS Riley on Haslem’s future; Haslem addresses mayor question: https://t.co/4aKtd1td3U
— Barry Jackson (@flasportsbuzz) March 27, 2023
When asked if the NBA’s current bylaws would affect his plan — any ownership stake must be at least one percent, and a former player cannot be given a stake — Haslem said, “I know the rules. I can figure it out.” (In 2012, the New York Times reported that Jay-Z invested $1 million in the New Jersey Nets in 2003 and owned one-fifteenth of one percent of the team. The Nets moved to Brooklyn, and Jay sold his stake to Jason Kidd.)
According to the Barry Jackson article linked above, the Heat are valued at more than $2 billion. A one-percent stake would likely cost at least $20 million.
In the first 19 years of his career, Haslem earned about $67 million. His salary for this season is about $1.8 million.