Miami, which also might be shopping Michael Beasley to gain more salary cap space, is seeking the capability to sign its own free agent, Dwyane Wade, and two other stars to maximum contracts. Jones' waiving provides about another $400,000 toward that goal.
James Jones has been waived as Miami tries to create more salary cap space.Miami -- Forward James Jones has been waived by the Miami Heat, an expected move that provides the team with more money to spend during free agency. Jones had a partially guaranteed contract for 2010-11 that was only guaranteed for $1.9 million through Wednesday. After that, it would have been guaranteed at $4.6 million. He agreed to spread part of the buyout over the next three years, which frees up about an extra $400,000 off Miami's salary cap for 2010-11. The Heat wanted the cap room to use in efforts to lure free agents once the negotiating period opens at 12:01 a.m. Thursday. Jones averaged 4.1 points in 36 games this season.