Salary cap flexibility over extensions? Pat Riley addresses Heat’s extension-eligible players
.JPG "Miami Heat guards Tyler Herro (14) and Norman Powell (24) greet each other on the court during their NBA basketball game against the Milwaukee Bucks at Kaseya Center in Miami on November 26, 2025.")
The Miami Heat has a lot to figure out after missing the playoffs this season for the first time since 2019.
Among the items on the Heat’s long offseason to-do list is to make decisions on a few extension-eligible players. Those on the season-ending roster who are eligible for extensions from the Heat this offseason are Tyler Herro, Jaime Jaquez Jr., Pelle Larsson, Norman Powell and Andrew Wiggins.
“We will talk to [Herro’s] agent. We’ll talk to Wiggs’ agent. We’ll talk to Norm’s agent,” Heat president Pat Riley said during his annual season-ending news conference on Monday at Kaseya Center. “These are the primary guys. We’ll have to talk to Jaquez’s agent. These guys are eligible somewhere along the way.”
But the Heat appears to be leaning against committing long-term salary in the form of extensions to any players this offseason, as it works to preserve max-level salary cap space for the 2027 offseason as part of its pursuit of a superstar addition. The only players who the Heat currently has signed to guaranteed contracts for the 2027-28 season are Bam Adebayo ($53.5 million salary for 2027-28) and Nikola Jovic ($14.9 million), with the 2027-28 salaries of first-round selections Kel’el Ware ($7.1 million) and Kasparas Jakucionis ($4 million) also expected to eventually become guaranteed.
Among the players who could become free agents during the 2027 offseason are stars Giannis Antetokounmpo, Nikola Jokic and Donovan Mitchell. While stars rarely hit free agency in today’s NBA, the threat and flexibility of a team holding max-level salary cap space can help facilitate a trade for such a player.
“The point is that I think right now we have to show a level of discipline in extending out contracts or big money contracts,” Riley said when discussing the Heat’s extension-eligible players on Tuesday. “I think you got to be a little bit careful with that. It’s not an indictment against any of our guys. It’s all part of the word that I use. After the [Jimmy] Butler trade, we ended up with flexibility. Roster flexibility, exception flexibility, cap flexibility, tax flexibility, and we got a bunch of good young guys who play their [butts] off. So it’s now adding to that, from that standpoint.”
Herro, who still has one year left on his current contract, is eligible to sign an extension worth as much as $206.9 million over four seasons this offseason. That negotiating window will open July 1 and close on June 30, 2027.
Jaquez, who still has one more season left on his rookie-scale contract, is eligible for a five-year extension at a maximum of about $245 million this summer. That negotiating window begins on July 1 and closes the day before the start of the 2026-27 regular season.
Larsson becomes eligible to sign an extension with the Heat in early July after the Heat picks up the $2.3 million option in his contract for next season ahead of the June 29 option deadline, and his window to sign an extension remains open until June 30, 2027. He will become eligible to sign an extension worth up to $93 million over four years this summer.
Powell is already eligible for an extension worth as much as $128.5 million through four years. If Powell can’t agree to an extension with the Heat by June 30, he would become an unrestricted free agent this summer.
Wiggins, who has a $30.2 million player option in his contract for next season that he must decide on by June 29, has until June 30 to negotiate an extension with the Heat that can be worth up to $177 million over four seasons. The extension can replace Wiggins’ $30.2 million option year with a lower salary and more guaranteed years attached to it, or even be tacked on to his $30.2 million option year with lower salaries in the coming seasons.
“I have absolutely great respect for Wiggs and Norm,” Riley said. “Both of them have expressed to me that they actually really would like to stay here. But they have to be aware of the big picture also, and they understand that. They’re both very savvy businessmen, players. The same thing with Tyler, he understands stuff.”
Herro was also eligible for an extension last offseason, but the Heat didn’t offer him one.
Herro, who missed 49 games this regular season due to injury issues, will undergo a minor procedure on his right foot this week, a league source confirmed to the Miami Herald. The minor procedure, which is elective, is not expected to significantly impact Herro’s offseason work.
Herro averaged 20.5 points, 4.8 rebounds and 4.1 assists per game in his 33 appearances this regular season.
“It’s unfortunate what happened to Tyler this year,” Riley said. “He’s having a preemptive procedure done, which I like. It’s good. He’ll be ready to go, I think, by July. So he’s got more than enough time ahead of training camp. And we all know what Tyler can do. We know what he can do.”
But it appears the Heat will be hesitant to offer a long-term extension to Herro or any other extension-eligible player on its roster, as preserving max-level salary cap space for the 2027 offseason remains a priority until a superstar addition is made.
“As far as locking ourselves up with anybody right now,” Riley said, “I think having good, honest discussions with their agents about next year is what’s on the table for us.”
