Ira Winderman: Pat Riley says Heat have not been inform…

Ira Winderman: Pat Riley says Heat have not been informed by Kelly Olynyk about his player option for next season, with that deadline on Thursday. He said Heat have yet to decide on qualifying offers to two-way free-agents Kyle Alexander, Gabe Vincent.

More on Kelly Olynyk Free Agency

Another Miami note, Heat center Kelly Olynyk is exercising his player option, as expected, a league source told HoopsHype.
Barry Jackson: Olynyk said hasn't considered whether to opt out of contract after season. Would be stunning if he opts out of 12.2 M in this NBA economy
Kelly Olynyk received a call from the Heat shortly after Hayward agreed to a deal in Boston, and he quickly committed. “It all really happened so fast, things really fell into place, they were really interested,” Olynyk said. “It was surreal. [Team president Pat Riley and coach Erik Spoelstra], those are guys who have been through everything, won championships, both as coaches. They run a tight ship down there and I like what they presented and had to offer.”
The Miami HEAT announced today that they have signed forward Kelly Olynyk. As per club policy, terms of the deal were not disclosed.
“As soon as Kelly Olynyk became an unrestricted free agent, we pursued him,” said HEAT President Pat Riley. “He is not only a post player, he can also play away from the basket. What we like the most is that he is a playmaker, tough defender and rugged rebounder. At just 26 years old, he fits in perfect with our young core that will play together in their primes.”
David Aldridge: Source confirms four-year, $50M deal for Kelly Olynyk in Miami (@Adrian Wojnarowski first). Deal includes fourth-year player option, per source.
Barry Jackson: Heat ultimately thought Olynyk was better player than Gay at that money. Concerns with Gay on several issues, including Achilles return.
Albert Nahmad: Waiters gets 4-years, $52M. Olynk gets 4-years, $50M. Including Ellington, McRoberts and Babbitt, Heat would have up to $6M cap room left.
Adrian Wojnarowski: Free agent Kelly Olynyk has agreed to a four-year, $50M-plus deal with the Miami Heat, agent Greg Lawrence tells ESPN.
Mike Fisher: #Cowboys fans, if you don't mind, a #FishTips #Mavs TweetStorm a'comin: 1) Olynyk 'wants more $ than (Dallas) wants to pay.' - Source
Boston has already renounced its rights to Kelly Olynyk, a key offensive spark off the bench with his ability to score from the perimeter. Now it looks as though the Celtics will have to trade away one of its elite defenders in order to continue shedding salary. And the three targets most teams have focused on, are Avery Bradley, Jae Crowder and Marcus Smart. Terry Rozier is also available, but the market for the aforementioned players has been much stronger.
Adrian Wojnarowski: Boston has renounced restricted free agent Kelly Olynyk, allowing him to become an unrestricted free agent, league sources tell ESPN.
Adrian Wojnarowski: There will be a strong market for Olynyk, whose cap hold needed to leave Boston payroll to create space to sign Gordon Hayward.
With Gordon Hayward now agreeing to a four-year $127M max contract, Celtics management now has a series of transactions to do in order to create cap space. The Celtics would have to pull the qualifying offer on Kelly Olynyk, renounce free agents Jonas Jerebko, James Young, Gerald Green and waive the contracts of Jordan Mickey and Demetrius Jackson (or trade).
Adam Himmelsbach: According to a league source, the Celtics have extended a qualifying offer to Kelly Olynyk.
Steve Bulpett: Celtics will give the qualifying offer to Olynyk. He would still likely be gone if the C's reach agreement w/Hayward. They'd need the space.
Kelly Olynyk understands the Boston Celtics' salary-cap situation will loom over his restricted free agency this summer, but said he will not worry about how the team's pursuit of top targets could impact his future. "It is what it is," Olynyk said Thursday afternoon after appearing at a Shamrock Foundation carnival for students who achieved perfect attendance throughout the school year, boosted their grades considerably or won one of the Celtics' annual writing or art contests. "I love that we have so much that can go on. (Celtics president of basketball operations Danny Ainge has) put our team in a position where that's the case, and that's why we were No. 1 in the East, that's why we're still trending upwards. And hopefully we can do something this summer that keeps us trending that way."
Jay King‏: Olynyk on FA: "I haven't thought a lot about it, but we'll see what happens." Said he would love to return. Doesn't know what to expect.
Big man Kelly Olynyk, who rescued the Celtics with Game 7 heroics against Washington, is a restricted free agent, and while Boston does not want to lose him outright, a sizable offer from another team could price him out of the Celtics’ range. If possible, too, the Celtics would like to find a taker for big man Tyler Zeller, who is owed $8 million next season.
The Celtics also were unable to agree on a contract extension with fourth-year forward Kelly Olynyk. Ainge said he met with the 7-footer’s agent Monday, as the sides tried to finalize a deal before the midnight deadline. Ultimately, though, maintaining salary-cap flexibility that will allow the Celtics to pursue a maximum-contract free agent remained the top priority. “If we didn’t have max cap flexibility next summer and the possibility to land a superstar-type player, an All-Star-caliber player, it might have been different in our negotiations,” Ainge said. “But because we still are there, with where we are in cap management, there was no reason to rush into it.”
“Once we sort of use that flexibility, we may not have it again,” Ainge said. “So there’s two ways to look at that. You see a lot of teams that are just going and signing extensions with players they have and sort of closing that door on that flexibility, but we’re not there yet. I think, as an organization we want to maintain that flexibility, and Kelly is part of our long-term plan as well.”
Forward/center Kelly Olynyk is eligible to sign a long-term deal before the Oct. 30 deadline but the Celtics are likely to wait until next summer to determine whether to invest in him long term. This is a critical season for Olynyk, who is coming off shoulder surgery. He will be depended on to be the floor-stretching sharpshooter the Celtics have desired the past three years. Olynyk has missed 43 games over his first three seasons, primarily because of injuries. The Celtics want more toughness and consistency from their former first-round pick .
Storyline: Kelly Olynyk Free Agency
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Steve Kerr approached Leandro Barbosa about playing this season

Warriors assistant coach Leandro Barbosa said coach Steve Kerr approached him about playing this season and doesn’t know why the opportunity never materialized. Barbosa, who specializes on the Warriors staff in mentoring players, acknowledged that the idea of him returning as a player after three years away from the NBA “wasn’t a joke at all” when injuries decimated the team’s rotation while the Warriors were in the playoff hunt.