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Former Michigan Star Derrick Walton Jr. Signs 2-Way Contract With Miami Heat

Derrick Walton Jr. has found an NBA home.

The former Michigan star signed a two-way contract with the Miami Heat today, the club announced.

Walton spent this summer with the Orlando Magic's Summer League team, averaging 10.0 points, 3.5 assists and 2.5 rebounds per game while shooting 47 percent from the field.

Apparently, the Heat liked what they saw, and signed Walton today.

A two-way contract is a newer development in the NBA, and are structured as such:

Players under a two-way contract aren’t counted against the salary cap, and will be restricted free agents after their deal expires. A two-way contract can only be up to two years, and no bonuses, extra compensation or options for future years can be included. The NBA season is split into 170 days, and a player on a two-way deal can only spend 45 days with their NBA team receiving the minimum salary, which is set at $815,615 for the 2017-18 season. The rest of the 125 days, the player will be payed at the rate of their G League salary capped at $75,000. In a best case scenario, the salary math works out to roughly around $280,000.

So most likely, Walton's career will begin in the G-League, but he has a good shot of working his way onto the Heat roster at some point during the 2017-18 season.

Congrats to him.