By Anthony Caruso III
The Capital Sports Report Owner/Sr. Writer
Mike Bibby is heading to South Beach.
Bibby is the latest to sign with the Miami Heat. Bibby took a buyout from the Washington Wizards in order to become a free agent. He did not want to play for the last-place Wizards and wanted to play for a contender, which the Heat are.
“We agreed to terms with Mike on a buyout of his contract, which gives us increased financial flexibility and opens up more opportunities,” Wizards President Ernie Grunfeld said in a statement.
Bibby will receive the rest of his $5.7 million for the rest of this season. However, since he took the buyout, he had to forfit his $6.2 million contract for next season.
He only played in 2 games for the Wizards, before being released.