ESPN's Brian Windhorst reported that there is mutual interest between the Heat and the future Hall of Famer, which makes Miami a stronger team on paper, but there's no guarantee that, by signing Allen, the Heat will repeat as champions.
First, there's no guarantee Allen signs with the Miami.
At most, the Heat can only offer Allen a contract starting at $3 million per year. He can earn much more from other teams.
Allen's long-range shooting would be a huge asset for the Heat should he sign there, but it shouldn't be their top priority heading into the season.
While they were very inconsistent during the season, Miami's supporting cast of Shane Battier, Mike Miller, Mario Chalmers and others stepped up and knocked down shots when they had to during the postseason.
Allen would add more of that off the bench, but consider the 2-guard position where both Dwyane Wade (30 years old) and Allen's (soon to be 37) bodies have begun to break down this season.
Wade missed 17 of 66 regular season games and Allen missed 20. He did knock down 45.3 percent of his long-range attempts on the season and while that would help, the Heat finished the regular season ninth in the NBA, shooting 35.9 percent from behind the arc as a team.
The Heat have enough shooters, their main priority should be adding size to their rotation. Or they can work on adding a legit option at the 3 so they can play LeBron James at the 4 more and Chris Bosh at the 5.
Adding Allen improves a team strength already and doesn't guarantee Miami another run at a championship.
He did just have surgery on his ankle, but who knows how much left he has to give, even to a Miami team where he wouldn't have to play major minutes?
Then there's the fact of what paying a veteran like Allen $3 million will do to the Heat financially in the future.
Being over the salary cap, Miami is a tax-paying team already. Windhorst broke down the money it will have to pay out during the next few years and what it means is that the Heat's competitors are just going to benefit from their spending habits. Windhorst explains:
This season the Heat will write a check for about $7 million in luxury tax. They are in position to have the third-highest payroll in the league next year at nearly $80 million, and that’s before signing a free agent. That will cost them $10 million in tax in 2013, and they will have to pay millions more in revenue sharing that also will go to their rivals, including the Oklahoma City Thunder. In the '13-14 season, when the new enhanced tax takes effect and the Heat already have in excess of $80 million committed, they are looking at a potential luxury-tax bill between $15-20 million. And just to repeat: That’s without signing any free agents this summer or next summer.
Is adding to those numbers worth investing in an aging veteran, especially one like Allen who doesn't guarantee another title run?
No, while adding another future Hall of Famer to the Heat rotation is something to think about, there are other holes to fill on this team for next season that will make a bigger impact on a championship run.