Mike Bibby Signs with Miami Heat

Mike Bibby is taking his playoff experience to the Miami Heat after a whirlwind past several days that also saw the veteran point guard being shipped to the Washington Wizards from the Atlanta Hawks.

Bibby signed with the Heat on Wednesday after clearing waivers following an agreement with the Wizards to buyout his contract. Bibby gave up a guaranteed $6 million for next season to leave the lottery-team Wizards and join a playoff bound squad like the Heat. Earlier this week, Miami released veteran guard Carlos Arroyo in anticipation of the Bibby deal.

“We want to welcome Mike Bibby as we continue to move into the direction of our championship dreams,” Heat president Pat Riley said. “We feel Mike, with his vast postseason experience, long range game and point guard abilities, will give us a boost in the backcourt.”

Bibby, with his vast playoff experience, is expected to play a significant role in the Heat rotation when the postseason comes, and may even assume the starting point guard position currently held by Mario Chalmers.