I think you're looking at it too logically. The narrative you're spinning is what he should do, but doesn't seem like something he will do. If Lloyd is even half right on the extent that he went to in order to keep Cole out of Cleveland, we're fucked if banking on a trade. He dealt Cole for a bag of basketballs at the deadline.
Couple of things:
1) Lloyd makes the mistake of conflating Cole with Wade. Trades involving these guys are not remotely the same thing. Riley could trade 10 of Norris Cole and might not even send a text to Arison. But trading Dwyane Wade is a decision made by the owner; not the GM.
2) Arison has not done anything to indicate he holds a grudge against James, let alone Dwyane Wade. Riley's problem with James extends to Wade which has soured their working relationship.
3) Riley might get fired (or retire) in 2016 if he can't land a big time free agent. Those are
his words.
4) Alienating a guy like Wade, and making a huge public demonstration of control, even sacrificing potential assets to say fuck you to an outgoing superstar and 3x champion is not a good look to Dragic, Durant or even Bosh let alone any other star they might hope to sign.
5) Arison has one motivation, and it isn't championships. It's money. The Heat franchise is a business to him, and he's made that abundantly clear. Personal grudges and chest-thumping likely mean little, and if faced with a rational choice where Arison can get assets for Wade or reject them, I doubt he decides not to take what's on the table. If he's smart, he'll pat Wade on the back on his way out, rather than alienate him further.
6) Most importantly, Arison and Riley likely want Wade gone to begin with. This isn't a situation where a superstar simply wants out. It's Wade who wants to stay with the Heat, but the Heat are low-balling him thereby showing him the door. It's a polite way for all parties to save face yet go their own way. Nothing about this seems like the franchise is desperate to keep him; in fact, the opposite seems glaringly obvious.
Point being; the Cole situation was completely different, and really fell under Riley's purview as president of the franchise. The Wade decision wouldn't. Lastly, people are acting like Wade is forcing a trade; he's not. He's asking to get paid, and the Heat FO is so far refusing citing their interest in other players (Durant). That's not how you retain your franchise player; and they know it.
If the Heat decide to pay Wade, it'll be because they felt the pressure was too great, or they had too narrow of a possibility at getting a better player in 2016.
All in all though, it's important to remember that we
traded LeBron James to the Miami Heat literally hours after Gilbert wrote 'The Letter.' I can't think of any owner holding a grudge more seriously and publicly than Dan Gilbert.
.gif "Conf (9) :conf (9):")
