Summary

Miller was one of the unknown winners of last offseason. Since he had a non-guaranteed $7 million contract that was well above his market value, he seemed certain to be waived, and would then have been looking at minimum offers, if any at all. Instead, Miller's contract was guaranteed in order to help facilitate the Steven Adams trade.

 

Miller at least played in 15 games this season, which could help his market considering he is now in his thirties and coming off a torn Achilles that forced him to miss the entire '19-'20 season. However, he likely didn't show enough in that time to really show he has much value to contribute. He may get some flyers, since wings are always in demand, but I don't expect the market for his services to be very hot.

 

Cap Considerations

Miller will be an unrestricted free agent with full Bird rights. As his cap hold ($13.3 million) exceeds the salary he will get in free agency, his cap hold is not really relevant. If the Thunder re-sign Miller, his cap hold will be replaced by his starting salary, and the Thunder may still have some cap space available depending on his salary and what happens with their other free agents.

 

Other teams will have multiple ways to sign Miller as even teams without cap space could possibly use any of the Non-Taxpayer MLE, Taxpayer MLE, or possibly even the Room MLE or Bi-Annual Exception to sign him. It's likely Miller ends up settling for the minimum.