Hoops Rumors

The Heat are operating in something of a middle ground from a competitive standpoint in their first full season of the post-Jimmy Butler era. They were able to land Norman Powell via trade while sending out Kevin Love and Kyle Anderson, who were unlikely to play major roles for the team, but have otherwise had a relatively quiet offseason.

However, there are still some big decisions to be made, as Ira Winderman explores for the South Florida Sun Sentinel (subscriber link). Tyler Herro, who recently underwent ankle surgery, is extension-eligible, as are Powell and Nikola Jovic.

As Winderman writes, the window for the Heat and Herro to come to an agreement will be open for less than three weeks, from October 1-20. The 25-year-old, who is under contract through 2026/27, is coming off his first All-Star selection after averaging a career-highs of 23.9 points and 5.5 assists while playing a career-best 77 games.

A maximum extension for Herro would come out to three years and $149.8MM. While Herro has been a productive, hard-working player throughout his time in Miami, Winderman notes that the team has always appeared more committed to Bam Adebayo as a cornerstone than Herro.

Ultimately, Winderman predicts that unless Herro budges off his max number, the two sides will not reach an agreement before the extension deadline. However, he believes that there will be plenty of willingness to find a deal that works for both sides in future offseasons.

When it comes to Jovic, Winderman observes that there’s no argument for him commanding a deal in the same range of Herro or Adebayo, but that locking in guaranteed long-term money somewhere in the neighborhood of the mid-level – such as a deal worth between $50-60MM over four years – could appeal to both sides.

Jovic would get security with the team and not have to risk restricted free agency, which has a tendency to squeeze less-established young players, and if he can prove himself to be a fifth starter or even one of the first players off the bench, the extension could become a team-friendly contract for Miami.

Finally, there’s Powell. He’s by no means a seamless fit next to Herro in the backcourt, assuming both start, which is not guaranteed. There’s also the locker-room issue of potentially signing Powell to an extension while not signing Herro, which could rankle the Heat lifer.

The Heat also may want to maintain as much cap flexibility as possible for 2026, when Terry Rozier‘s big expiring contract will also come off the books.

These factors have Winderman leaning no on a Powell extension, unless the Heat extend or trade Herro. However, Winderman notes that should Powell break out for the team with Herro recovering from surgery, that would improve his chances of landing a long-term deal.

This lines up with previous reporting from Miami Herald writer Barry Jackson, who indicated that the Heat would be open to the possibility of an extension if Powell starts the season well. Unlike Herro and Jovic, he’ll remain extension-eligible beyond opening night, all the way until June 30, 2026.