This trade works according to ESPN Trade Machine:
From Indiana to Miami:
Granger $ 14.021.788, Copeland $ 3.000.000 and Watson $ 2.016.000
From Miami to Indiana:
James $ 19.067.500, Beasley $ 884.293 and Oden $ 884.293
Indiana takes salary: $ 20.836.086 (+ 1.798.298)
Miami takes salary: $ 19.037.788 (– 1.798.298)
This trade would leave the Pacers just under the luxury tax threshold, which is estimated being at $ 71.748.000. Before this trade our payroll was $ 69.921.277 and afterwards it will be $ 71.719.575. So we would still be $ 28.425 under the luxury tax threshold.
Now, why would these teams want to finalize this deal?
The Pacers would get LeBron James for the rest of the season, if not for longer. No need to explain the incentive more, really. Beasley and Oden would be basically throw-ins. At the moment, Miami has 15 players under contract and Indiana has 14 players under contract.
As for the Heat, well, they would reduce their luxury tax bill. Before this trade they were over the threshold $ 11.780.143 and afterwards $ 9.978.145. It is quite important for the Heat to get under $ 10 million for the tax, because as a repeat luxury tax offender they are now subjected to pay $ 3.50 per every excess dollar, whereas after getting under $ 10 million they are subjected to pay only $ 2.75 per every excess dollar. Make the calculations and you can see that their total savings after this trade would be $ 13.790.601,75. So this would definitely make sense financially for them.
Naturally all this money talk is pretty secondary compared to putting up a winning team, but we must try to sell this trade to the Heat somehow, right? Maybe they think that they are the second best team in the Eastern Conference no matter what, and furthermore they don't think they can convince James to stay in Miami, when he can opt out of his contract in the summertime. In that speculative case saving some luxury tax money is certainly a good thing.
If this trade falls through, here is my new depth chart for the Pacers:
G. Hill / Stephenson / Sloan
James / Johnson
George / Butler / S. Hill
West / Scola / Beasley
Hibbert / Mahinmi / Oden
I believe this trade would bring the title in Indiana. We only got to sell it to the Heat. Of course we are in a great position even right now, but I am sure we all would accept this trade in a heartbeat!