Minnesota Timberwolves held the better side in the 2011-06-24 transaction with Miami, which received rights to Norris Cole for rights to Bojan Bogdanovic; 2014 second-round pick (#44-Markel Brown); cash.
Miami moved aggressively for the No. 28 pick after the 2011 draft. The Heat sent Minnesota the rights to Bojan Bogdanovic, a future second-round pick and cash for the rights to Norris Cole. That price was more than a simple pick swap, but it targeted an immediate backcourt need for a team already built around championship contention. Cole joined the rotation right away rather than functioning as a future stash or developmental project.
The basketball return for Miami is easy to document. Cole played all 65 regular-season games as a rookie, then appeared in 80 games in 2012-13 and all 82 in 2013-14. He averaged 19.4 minutes per game in his first season and remained a regular reserve through three straight Finals runs. Basketball-Reference lists him as a two-time NBA champion, so the Heat converted the deal directly into usable rotation minutes during the franchise’s most successful stretch.
Minnesota did not hold Bogdanovic’s rights for long. The Timberwolves moved those rights to New Jersey on the same draft night for cash and a 2013 second-round pick, while also keeping the future second-rounder received from Miami. That means the Wolves turned the Cole transaction into several separate assets rather than one player. The 2014 Miami second-rounder eventually became the No. 44 pick used on Markel Brown, giving the package another realized draft outcome.
Bojan Bogdanovic eventually became the best NBA player associated with the exchange, but Minnesota did not keep his rights long enough to receive that production. Miami, meanwhile, got immediate value from Cole and used him throughout two title runs. The canonical B+ for Miami therefore fits the direct result. Minnesota’s A- reflects the larger package and the extra asset conversion, but the verdict should stay narrow because the Wolves’ benefit came through draft capital and cash rather than years of Bogdanovic production.
Slight Wolves Edge — Miami B+, Minnesota A-. Miami gave up the rights to Bojan Bogdanovic, a future second-round pick and cash to secure Norris Cole, then received three-plus seasons of regular rotation play and two championship rings with Cole on the roster. Minnesota immediately converted Bogdanovic’s rights into another second-round pick and cash while retaining Miami’s future second-rounder. The Wolves assembled the broader asset return, but Cole’s real contribution to a title contender keeps the gap small rather than turning this into a one-sided hindsight result.