Heat Sign Ethan Thompson To Exhibit 10 Contract
The Heat have signed free agent guard Ethan Thompson to an Exhibit 10 contract, according to Ira Winderman of The Sun Sentinel (subscription required).
While Thompson has yet to appear in an NBA regular season game, he has now signed five NBA contracts since going undrafted out of Oregon State in 2021 and spent the last two-plus months of the 2024/25 season on a two-way deal with the Magic.
A G League veteran, the 6’5″ shooting guard has played in between 43 and 49 NBAGL games in each of the past four seasons, spending time with the Windy City Bulls, Mexico City Capitanes, and Osceola Magic. In 47 outings for Orlando’s G League team last season, he averaged 17.8 points, 4.7 rebounds, 3.0 assists, and 1.1 steals in 33.4 minutes per game, posting a shooting line of .415/.396/.805. He knocked down a career-high 3.3 three-pointers per contest.
An Exhibit 10 contract can be converted to a two-way deal before the regular season begins, and Miami does have an open two-way slot. However, it appears likely that the Heat are signing Thompson with an eye toward having him join their G League affiliate as a returning rights player — the Sioux Falls Skyforce made a trade with Osceola on Wednesday to acquire Thompson’s rights (Twitter link).
If Thompson is waived before the regular season begins and then spends at least 60 days with the Skyforce, he’d earn an Exhibit 10 bonus worth up to $85,300 on top of his standard NBAGL salary.
The Heat now have 17 players officially under contract, including 14 on fully or partially guaranteed standard deals, one on an Exhibit 10, and a pair on two-ways. They also still have a qualifying offer on the table for restricted free agent Dru Smith.
Heat Notes: Jones, Jakucionis, Burks, Powell, Preseason
Kai Jones‘ workout with the Heat on Monday wasn’t just a one-day affair. According to Barry Jackson of The Miami Herald, the free agent center is actually spending four days working out at Kaseya Center this week as the club considers whether to sign him. No decisions have been made yet, but a source tells Jackson that the Heat have “long shown an appreciation” for the former first-rounder’s skill set.
The Heat have 14 players on standard contracts and could make Jones their 15th man, but the club is just a little over the luxury tax line and may not fill that final roster spot to open the season. The big man is also ineligible to receive a two-way contract.
While Jackson suggests an Exhibit 10 deal could be a possibility, Jones has reportedly drawn serious interest from the Italian team Virtus Bologna, who could offer him guaranteed money and a more significant role, so it’s unclear if a non-guaranteed camp contract would appeal to the 24-year-old.
We have more on the Heat:
- Within that same Herald story, Jackson spoke to a veteran Eastern Conference scout to get his take on the Heat’s place in the Eastern Conference hierarchy, their offseason acquisition of Norman Powell, what they can expect from Simone Fontecchio, and his impressions of first-round pick Kasparas Jakucionis. On that last subject, the scout wasn’t especially enthusiastic. “NBA people I talked to in Las Vegas were killing him, didn’t have anything nice to say about him,” the scout said of Jakucionis. “Quickness and shooting were my concern. Can he beat [skilled NBA players] off the dribble? He better be able to make shots. His play was disappointing, but I’m not ready to judge. He’s [very young at 19].”
- While Alec Burks expressed interest at the end of last season in returning to the Heat, a reunion with the veteran guard no longer makes sense after the club added Powell and Fontecchio, writes Ira Winderman of The South Florida Sun Sentinel (subscription required).
- The Heat have no shortage of players benefiting from international competition this summer, with Powell, Fontecchio, Nikola Jovic, and Pelle Larsson all representing their national teams, as Winderman writes for The Sun Sentinel (subscription required). Powell led Jamaica to the two wins they needed in order to advance out of the World Cup pre-qualifying round before sitting out the third and final game of this competition window, Winderman adds (via Twitter).
- The Heat and Magic announced on Tuesday that they’ll open their preseason with a game in San Juan, Puerto Rico on October 4. In total, the Heat will play six preseason games, as they outlined in a press release.
- Heat Hall-of-Famers Dwyane Wade, Alonzo Mourning, and Pat Riley will be the presenters when longtime team owner Micky Arison is inducted into the Naismith Basketball Hall of Fame next month, per a press release.
Kai Jones Working Out For Heat
Free agent big man Kai Jones is working out for the Heat on Monday, according to NBA insider Chris Haynes (Twitter link).
The 19th overall pick in the 2021 draft, Jones played for the Clippers and Mavericks in 2024/25, appearing in 40 total games and averaging 5.0 points and 3.1 rebounds in 11.7 minutes per contest.
Jones began last season on a two-way contract with the Clippers, then was waived on March 1 so the team could bring in a couple of new two-way players. He caught on immediately with the injury-plagued Mavericks, who were desperately seeking frontcourt depth as they pushed for a play-in spot. Jones averaged 11.4 PPG and 6.6 RPG in 12 games (21.7 MPG) with Dallas down the stretch, even making six starts for the Mavs.
Reporting over the weekend indicated that Jones was making progress toward a potential deal with Virtus Bologna, but Haynes’ update today suggests the 24-year-old hasn’t given up on the idea of catching on with an NBA team for the 2025/26 season.
As Ira Winderman of The South Florida Sun Sentinel notes (via Twitter), Miami still has several spots available on its 21-man training camp roster and makes a habit of working out veteran free agents during the offseason. Some of those free agents – including R.J. Hampton and Nassir Little – have earned camp invites in recent years.
If Jones is going to open the ’25/26 season with an NBA team, he’ll have to be part of a club’s standard 15-man roster, since he’s no longer eligible to sign a two-way contract.
Look Ahead At Potential 2026 Free Agents
Free agency is not the headline event it once was in the NBA, as a large portion of the top players on the market tend to extend, like Luka Doncic did last weekend with the Lakers, or move in trades rather than signing with new teams. However, there are still likely to be talented players available and ready to contribute to new situations, as Zach Harper details for The Athletic.
Teams like the Lakers, Clippers, and Heat have made an effort to keep their flexibility for next year, write Tim Bontemps and Kevin Pelton for ESPN. However, those teams are also expected to try to maintain cap space for 2027, a summer in which multiple MVPs – Giannis Antetokounmpo and Nikola Jokic – could potentially reach the market, though of course neither is guaranteed to be available.
The Celtics will also likely look to retool their roster next summer after trading away key contributors in Jrue Holiday and Kristaps Porzingis for salary cap relief, as they seek to rebuild their roster into a contender around Tatum once he has recovered from his Achilles tear.
Trae Young, with a $48.9MM player option for the 2026/27 season, has the potential to be one of the top names on the board, and while Harper expresses confidence that an extension with the Hawks will get done, there have been rumors that it’s far from a certainty, and that next season could serve as an evaluation period for the Hawks’ core under a new head of basketball operations.
Other high-end veterans with player options for ’26/27 include James Harden (Clippers), Zach LaVine (Kings), Draymond Green (Warriors), Austin Reaves (Lakers), Andrew Wiggins (Heat), Fred VanVleet (Rockets), and Bradley Beal (Clippers). Harper considers Harden, Green, and Reaves very likely to remain with their current teams, and VanVleet also relatively likely to stay, though the Rockets have some level of flexibility in regard to the future of their roster.
Then there are the unrestricted free agents. As of this moment, LeBron James (Lakers) and Kevin Durant (Rockets) represent the cream of the crop, but there are other talented players such as Porzingis (Hawks), Anfernee Simons (Celtics), Coby White (Bulls), and others who are sure to garner suitors.
For what it’s worth, Durant has been widely expected to extend with Houston, but James is ineligible to be extended prior to free agency and White’s salary is so modest relative to his value that he’s considered likely to wait until he can get a bigger payday on the free agent market.
One interesting inflection point will be players on team options, such as Isaiah Hartenstein and Luguentz Dort on the Thunder, and Bogdan Bogdanovic and Brook Lopez on the Clippers. The Thunder, particularly, could have some tough decisions to make on their role players soon as lucrative extensions take effect for stars Shai Gilgeous-Alexander, Chet Holmgren, and Jalen Williams.
Heat’s Highsmith Undergoes Knee Surgery, Out 8-10 Weeks
Heat forward Haywood Highsmith suffered a torn meniscus in his right knee during a recent training session in his hometown of Baltimore and has undergone surgery to repair the injury, the team announced today (via Twitter).
According to the Heat, the procedure was completed in Miami on Friday by team physician Dr. Harlan Selesnick (Twitter link). Highsmith will begin rehabilitation work immediately, but the expectation is that he’ll be sidelined for approximately eight-to-10 weeks.
Training camps are scheduled to get underway in roughly seven-and-a-half weeks, so Highsmith’s injury figures to delay his availability this fall. He’s unlikely to be back to full health by the time the Heat begin practicing and may not be ready to return by the time the regular season tips off a few weeks later.
It’s an unfortunate setback for a player who is entering a contract year and who will be looking to establish himself as a regular part of Erik Spoelstra‘s rotation after seeing his role fluctuate last season. Highsmith set career highs by appearing in 74 regular season games and averaging 24.6 minutes per night, but was in and out of the starting lineup and was briefly removed from the rotation entirely.
A versatile defender with good length, Highsmith averaged 6.5 points, 3.4 rebounds, and 1.5 assists per game last season, with a shooting line of .458/.382/.721. He’ll earn about $5.6MM in 2025/26 on an expiring deal.
Southeast Notes: Sarr, Heat, Trades, Free Agency
Second-year Wizards big man Alex Sarr, playing for France, enjoyed an impressive showing during a EuroBasket warm-up game against Montenegro, per Eurohoops. In an 81-75 victory, Sarr scored 19 points and pulled down four boards across just 13:49 of action.
After being selected with the No. 2 pick in the 2024 draft, the seven-foot center made the All-Rookie First Team with Washington for 2024/25. In 67 healthy contests, he averaged 13.0 PPG, 6.5 RPG, 2.4 APG and 1.5 BPG.
Sarr’s Washington colleague Bilal Coulibaly chipped in another 10 points for the French team.
There’s more out of the Southeast Division:
- Reeling after a drama-filled 2024/25 season headlined by the Jimmy Butler trade demand, the Heat are looking to return to contender status moving forward. In a reader mailbag, Ira Winderman of The South Florida Sun Sentinel (subscriber link) suggests that the key to improving for Miami is trades, not free agency. The NBA landscape has changed mightily since the summer of 2010, when president Pat Riley signed free agent future Hall of Famers LeBron James and Chris Bosh to form a superstar “Big Three” with incumbent guard Dwyane Wade. That team went to four Finals in four years, winning twice. Butler was also acquired in free agency (via sign-and-trade), but the Heat have since embraced the trade route. To wit, Miami managed to acquire guard Norman Powell from the Clippers as part of a multi-team deal this offseason.
- The Heat have some cap flexibility in 2026, but the top free agents in that class are combing off the board as a result of several offseason contract extensions, observes Winderman in another Sun Sentinel story (subscriber link). All-Stars like Paolo Banchero, Luka Doncic, Kevin Durant, De’Aaron Fox, Jalen Williams, and James Harden have all finalized extensions with their respective teams or are expected to do so, while players like Chet Holmgren, Mikal Bridges and Bradley Beal have also completed multiyear deals. Harden and Beal do have player options for next season, so in theory they could become available. Dyson Daniels and Draymond Green are among the notable players who are extension-eligible but have yet to agree to new contracts.
- In case you missed it, Hornets forward Grant Williams recently provided an update on his rehab from a host of season-ending knee issues suffered last November.
Former Heat Employee Accused Of Stealing Team Items, Selling Them For Profit
A former Heat employee has been accused of stealing more than 400 game-worn jerseys and other items and selling at least 100 of those items for profit, according to reports from The Athletic’s Brooks Peck and the Miami Herald’s Anthony Chiang and Charles Rabin.
According to a Department of Justice press release, Marcos Thomas Perez faced federal charges of transporting and transferring stolen goods in interstate commerce on Tuesday. Among the items Perez alleged stole was LeBron James’ jersey from Game 7 of the 2013 NBA Finals, which he sold for approximately $100K. The jersey was later sold in 2023 at a Sotheby’s auction for $3.68MM.
The federal investigation was launched in early 2024 after game-worn jerseys from James, Shaquille O’Neal and Dwyane Wade — among many other items — went missing from the Heat’s arena, the Kaseya Center.
Perez worked the City of Miami Police Department in November 1992 until he retired in April 2016. He was employed by the Heat as a security officer from 2016-21, then worked for the NBA as a security employee from 2022 until this year.
“During his tenure, Perez worked on the game-day security detail at the Kaseya Center, where he was among a limited number of trusted individuals with access to a secured equipment room,” the DOJ’s press release reads. “This equipment room stored hundreds of game-worn jerseys and other memorabilia that the organization intended to display in a future Miami Heat museum.
“During his employment, Perez accessed the equipment room multiple times to steal over 400 game-worn jerseys and other items, which he then sold to various online marketplaces. Over a three-year period, Perez sold over 100 stolen items for approximately $2 million and shipped them across state lines, often for prices well below their market value.”
Law enforcement executed a search warrant at Perez’s home in April and seized almost 300 items that the Heat confirmed had been stolen from their arena.
Meadowlark Media’s Amin Elhassan first reported the news of the investigation on “The Dan Le Batard Show with Stugotz” last week, according to the Herald. The Heat organization and the league have declined to comment during the ongoing investigation.
Heat Notes: Westbrook, Powell, Bridges, Herro, Fontecchio
Signing free agent guard Russell Westbrook wouldn’t make much sense for the Heat, Ira Winderman of the South Florida Sun Sentinel writes. Winderman anticipates that Westbrook would rather sign with a team that has a stronger chance to contend.
Bringing in any free agent at this point creates salary cap and luxury tax issues for the Heat, according to Winderman, who also notes that Westbrook would likely to have to accept a role as the fourth guard in the rotation behind Tyler Herro, Norman Powell and Davion Mitchell.
We have more on the Heat:
- Powell, who was traded to the Heat by the Clippers last month, is training in South Florida but not with the Heat. He’s working out with the Jamaican national team, which is holding its training camp at Florida Atlantic University in Boca Raton to prepare for the FIBA World Cup 2027 Americas pre-qualifiers, per Anthony Chiang of The Miami Herald, “I was expecting training camp to be in Jamaica, but then I learned that it was in Boca. And then being traded to the Heat, being so close to where I’ll be playing and being able to go down there and go to the facility, look for a place to stay. … It’s definitely cool,” Powell said.
- Mikal Bridges‘ extension with the Knicks provides an interesting comp for future negotiations between the Heat and Herro, Winderman writes. While Bridges has never made an All-Star team or won an NBA award, unlike Herro, he’s a better two-way player. Bridges’ average of $37.5MM per season in his four-year extension still might not be enough to lock down Herro to a long-term agreement, notes Winderman.
- Also at The Sun Sentinel, Winderman explores whether it would make sense for the Heat to utilize the stretch provision before the Aug. 29 deadline, pointing out that they could move below the luxury tax line by shedding some salary. The primary candidate, in Winderman’s view, is Simone Fontecchio, who was acquired in the Duncan Robinson sign-and-trade with Detroit. He has an $8.3MM expiring contract which could be stretched at $2.7MM over each of the next three seasons.
Bam Adebayo Endorses Heat’s Roster Moves
The Heat haven’t won a playoff series since their surprising run to the 2023 Finals, but Bam Adebayo believes the team’s offseason moves have it headed back toward contention, writes Anthony Chiang of The Miami Herald. Adebayo spoke to reporters Saturday at his youth basketball clinic in Miami, marking his first public comments since the Heat were knocked out of the playoffs by Cleveland in April.
“It’s a very good shake-up for our team and now there’s a different dynamic to it,” Adebayo said.
Miami added another dynamic scorer last month by acquiring Norman Powell from the Clippers in a three-team trade. After two straight top-four finishes in the Sixth Man of the Year voting, Powell moved into L.A.’s starting lineup last season and responded with a career-high 21.8 points per game. Chiang notes that he was one of just six players who averaged at least 21 PPG while shooting better than 48% from the field and 40% from three-point range.
The Heat were able to land Powell at a bargain price, sending versatile forward Kyle Anderson, veteran big man Kevin Love and a 2027 second-round pick to Utah in the deal.
“I feel like Norman is one of those guys that floats under the radar,” Adebayo said. “But as you saw this year, he’s really shown that he can be an All-Star caliber player. You’ve seen what he’s done and you’ve seen him grow in this league. And, obviously, he wants to take the next challenge. Obviously, the next challenge is being with the Miami Heat. So I’m happy to have him.”
Miami was also able to re-sign free agent point guard Davion Mitchell, who was acquired from Toronto in February. Mitchell responded to the trade by putting up 10.3 points, 2.7 rebounds, 5.3 assists and 1.4 steals in 30 games with Miami while shooting 50.4% from the floor and 44.7% from beyond the arc. Chiang states that he also made a difference with his aggressive defense, as the Heat gave up 3.4 fewer points per 100 possessions when he was on the court.
“Davion being back, obviously, we’ve been missing somebody that can really play on-ball defense,” Adebayo said. “And having him come in and be that guy and understand his role, I’m looking forward to him being here for a full year and all of us being together and getting to know one another and turning this into more of a brotherhood. We were kind of disconnected a little bit trying to figure out everybody’s role and trying to figure out everybody’s style of play. But now we’re going to have a good training camp and then we go from there.”
Adebayo also talked about the teammates he lost as the Heat retooled their roster. In addition to parting ways with Love and Anderson, Miami sent Duncan Robinson to Detroit in a sign-and-trade deal that brought back Simone Fontecchio.
“I’m going to miss them, obviously,” Adebayo said. “Just because Duncan has been here for eight years and having that connection was special. And then K-Love was a leader that could speak to somebody from a championship level, could obviously encourage the younger group, be an example, but also he was the bridge between some of the coaches and the players. So like I said, I’m going to miss both of them. I’m glad we had the time that we did. It was, obviously, helpful for my growth and my development as a player and as a captain.”
Southeast Notes: Rozier, Heat, Hornets, Wizards
When Jake Fischer recently reported that the Heat and Wizards held trade talks about guards Terry Rozier and Marcus Smart, he wrote that the two sides could not come to an agreement as Miami “could not reach an organizational consensus on whether such a trade was a clear upgrade.” Smart was ultimately bought out and ended up with the Lakers.
Anthony Chiang of the Miami Herald confirms that the two Southeast teams did indeed engage with one another about a possible deal and notes that it would have made sense on paper given Smart’s expiring salary ($21.6MM) is cheaper than Rozier’s ($26.6MM). However, Chiang clarifies that the primary reason such a trade did not occur was primarily due to the fact that Miami didn’t want to attach the necessary draft capital it would have taken to complete such a deal.
The Heat remain open to trade talks surrounding Rozier, but they have been hesitant to include draft picks or sacrifice future flexibility simply to get off his expiring contract.
We have more from the Southeast Division:
- A federal investigation was launched early last year regarding game-worn Heat gear that was stolen from the team’s facilities, Chiang writes in another post. The gear includes that from the likes of Dwyane Wade, Shaquille O’Neal and LeBron James.
- Look for Mason Plumlee to start at center for the Hornets in a year where his competition looks to be rookie Ryan Kalkbrenner and former two-way big Moussa Diabate, Roderick Boone of The Charlotte Observer writes. Plumlee started for the Hornets during Mark Williams‘ rookie season before being traded to the Clippers. Boone suggests a similar situation could play out in 2025/26, with Plumlee starting as the man in the middle before Kalkbrenner ultimately takes over.
- The Wizards will keep their 2026 first-round pick if it ends up in the top eight of the draft. The Knicks will own the pick if it falls outside of that range, but as Josh Robbins of The Athletic details, the Wizards don’t feel compelled to try to reacquire that selection in its entirety, since doing so would mean potentially giving up the swap rights they own on the Suns’ 2026 first-rounder.