He did, however, remain as team president and was replaced as head coach by Erik Spoelstra the following season.
It was also Alonzo Mourning's final season in the NBA as he suffered a season-ending and a possibly career-ending knee injury in a December game in Atlanta.
At mid-season in February, Shaquille O'Neal was traded to the Phoenix Suns for Shawn Marion and Marcus Banks.
However, Hardaway was waived after a few games with the team and he would never play in the NBA again and officially announced his retirement from basketball after 16 seasons.
Key dates prior to the start of the season: Miami's selections from the 2007 NBA draft in New York City.