Despite losing LeBron James to free agency, Miami Heat team president Pat Riley likes his team's chances going into the next NBA season.

Riley is also the Heat's general manager, so he has a firsthand look at what the team is doing in the front office. Many people believe that he overpaid for Chris Bosh, but with the departure of James, Riley didn't have a choice. Although Bosh was rewarded with a five-year, $118 million contract, if Riley didn't give that to him -- considering that the up-and-coming Houston Rockets were also chasing the Dallas, Texas-born Bosh with a max contract and a chance to return to his home state -- the Heat would be without Bosh and James.

Dwyane Wade would soon follow in Bosh's steps and re-sign with the team, for less money.

More good news for the Heat -- head coach Erik Spoelstra will be returning for his seventh season with the franchise. In his six seasons with the Heat, he won four Eastern Conference Finals and hoisted two NBA championship trophies. A lot of basketball fans are still skeptical when it comes to his coaching abilities, especially now that James is gone. Without the game-changing skills that the four-time NBA MVP brings to the table, Spoelstra has a lot pressure facing him next season.

On life after James in Miami, Riley recent said:

"No doubt we lost a great player. I don't get hurt. The hurt didn't last long. We picked up the phone and went to work. Sometimes, things happen that you don't like, but you have to move on. I feel really good about where we are right now at this moment. I feel we are up to the challenge and will be as competitive as anyone in the Eastern Conference."

Going into this offseason, Riley and much of the Heat front office were under the impression that James would return. Obviously, that wasn't the case as James returned to his hometown Cleveland Cavaliers.

It's unlikely that the Heat will make any more big moves this offseason. Michael Beasley, who they drafted in 2008 and had on the roster last season, is still a free agent. Beasley never received significant playing time for a long period with the Heat, but they may want to consider him. Metta World Peace (formerly known as Ron Artest) is also a free agent, but that is an unlikely signing.

The most important thing for this Heat team next season is for Wade to play like an elite player and stay healthy. There was once a time when Wade was considered a Top Five player in the NBA, most notably when he won the 2006 Finals MVP during Miami's first-ever NBA championship season. Bosh and Wade are going to have to both play like Top 10 players if this team is going to succeed next season.

The biggest X-factor for the Heat next season is Mario Chalmers. The former NCAA Champion and Most Outstanding Player at Kansas has enormous potential. He and James didn't always get along on the court and sometimes even argued. With James now in Cleveland, this is his best chance to regain his college star form.

One of the best things the Heat have going for them is that they play in a weak Eastern Conference.

Riley has been playing and coaching in the NBA since the 1960s, so he knows superstars come and go. This will be a very difficult task, but he has shown before that he is up to the challenge.

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