How potential Giannis Antetokounmpo trade would impact futures of Heat players
.JPG "Miami Heat guard Davion Mitchell (45), Kel'el Ware (45), Norman Powell (24), Bam Adebayo (13) and Andrew Wiggins (22) huddle as they play against the Memphis Grizzlies in the second half of their NBA preseason game at Kaseya Center on Oct. 17, 2025, in Miami.")
Whether the Heat lands superstar forward Giannis Antetokounmpo doesn’t merely affect the futures of players involved in the trade. It also impacts the future of several others who either will remain or might remain with the Heat in the aftermath.
How a half dozen Heat players would be impacted by whether Miami lands the two-time NBA MVP:
▪ Norman Powell: If the Heat doesn’t trade for Antetokounmpo or another star by early July, the Heat likely would not offer Powell anything more than a one-year deal because doing so would prevent the Heat from having maximum salary cap space to try to land a superstar in 2027 free agency — if any superstar makes it to free agency.
But offering multiple years to Powell wouldn’t be an issue if the Heat acquires Antetokounmpo because the Heat would have Antetokounmpo’s Bird Rights and could exceed the salary cap to sign him next summer or give him a max extension before that. That means having cap space next summer wouldn’t be necessary in that scenario, allowing Miami to sign Powell to a two- or three-year deal this summer, if it chooses.
If the Heat doesn’t land Antetokounmpo, there could be a one-year offer to Powell, a deal that would leave Miami in position to pursue Antetokounmpo or Donovan Mitchell or Kawhi Leonard or, less likely, Nikola Jokic, if any opt for free agency next summer.
But a one-year offer might not be appealing to Powell, who could opt for a multiyear deal from another suitor, potentially starting at money in the range of a full midlevel contract ($15.5 million).
Here’s a quick primer on why signing veteran players past this season isn’t advisable for the Heat if Miami doesn’t land Antetokounmpo or another star via trade in the next three weeks:
The NBA’s salary cap for 2027-2028 is projected to be $173 million. The Heat has $73.9 million in committed money that season to Bam Adebayo ($56 million), Nikola Jovic ($14.9 million) and Dru Smith ($2.9 million). But that number doesn’t account for $20 million or so in cap holds for empty roster spots.
That number also will grow if Miami keeps or gives an extension to Jaime Jaquez Jr. (who could become a restricted free agent that summer) and Kasparas Jakucionis ($4 million team option) and Kel’el Ware ($7.1 million team option).
It is possible to give Jaquez a sizable extension this summer — on top of keeping Jakucionis and Ware — and still have space for a max free agent in 2027. But that would depend on the size of the Jaquez extension, combined with what other salary the Heat takes on during the next 13 months — potentially including outlays to a first-round pick next month and another in June 2027.
▪ Andrew Wiggins: With or without Antetokounmpo, Wiggins could remain with the Heat if he opts into a contract that would pay him $30.1 million next season.
Miami would have the option of trading Wiggins if he exercises that option, but that wouldn’t appear particularly likely — unless Miami can use his salary to facilitate a trade for an All Star who becomes available later this summer or next season.
But if he opts out of the contract — with the hope of landing a three-year deal in the $65 million to $70 million range — the Heat likely would entertain that only if Antetokounmpo or another star is acquired first, for the same reasons that pertain to Powell.
▪ Pelle Larsson: If Antetokounmpo is acquired, the Heat won’t need to worry about 2027 cap space and could give Larsson an extension, which he becomes eligible for this summer.
The Heat theoretically could give Larsson a four-year extension worth as much as $92.8 million, but any deal likely would be more modest.
For Larsson, a new deal can begin with a first year salary of as much as 140% of the average player salary, which is expected to top $12 million next season.
Without an Antetokounmpo trade, the Heat could be more inclined to simply pick up Larsson’s $2.3 million team option for next season, which would delay free agency for a year.
The Heat also has the option of not exercising the team option but instead extending a $5.9 million qualifying offer, to make him a restricted free agent this summer, with the Heat able to match outside offers.
But that would be risky because a new deal could clog Miami’s cap, eliminating potential max salary cap space next summer unless Miami can find a taker for Jovic’s extension.
Acquiring Antetokounmpo would also impact Larsson in another significant way: If Miami doesn’t land him and Wiggins opts out for a multiyear deal elsewhere, Larsson could immediately replace him as the Heat’s starting small forward.
But if Antetokounmpo and Wiggins are both on the Heat next season, Larsson could assume a sixth man role between Wiggins and either Powell or whatever shooting guard is added to replace Tyler Herro.
It’s also possible Larsson could be included in a trade with Milwaukee.
▪ And speaking of Jovic… A deal that would send Kel’el Ware and other players (but not Jovic) to Milwaukee as part of a package for Antetokounmpo would leave Jovic in position to battle for the Heat’s backup center job against a veteran free agent who is signed via exception money or on the veteran’s minimum.
Jovic played 38% of his minutes at center last season, according to Basketball Reference. He has made it clear in the past that he would rather play at his natural position of forward than as an undersized center at 6-foot-10 and 205 pounds.
The Heat outscored opponents by 3.8 points per 100 possessions in 624 possessions last season when Jovic was on the court as the Heat’s center, according to Cleaning the Glass. Adebayo, Ware and Vlad Goldin (the Heat’s other centers) were not on the court alongside Jovic during these possessions.
Veteran free agent centers available this summer include Robert Williams and Mitchell Robinson (who could both be in line for all or part of midlevel exceptions), Jusuf Nurkic, Nik Richards, Jaxson Hayes, Dru Eubanks, Andre Drummond, DeAndre Jordan, Bismack Biyombo and Dwight Powell and Zach Collins.
Whether it acquires Antetokounmpo or not, the Heat has available both a $15.5 million full midlevel exception and a $5.5 million biannual exception.
Jovic could help facilitate a trade with Milwaukee, but the question is whether the Bucks want to take on his full four-year, $62.4 million extension.
▪ Kasparas Jakucionis: If Herro is dealt in an Antetokounmpo trade, Jakucionis could be positioned to earn more minutes at shooting guard if he’s not in the trade.
After being used mostly in a high usage on-ball role before getting to the NBA, Jakucionis played a lot of minutes off the ball as a rookie with the Heat last season. That led to Jakucionis growing as a spot-up shooter and off-ball cutter.
Jakucionis shot a team-best 48.1% on 2.5 catch-and-shoot three-point attempts per appearance last season.
▪ Jaquez: If Jaquez is not included in a potential deal for Antetokounmpo, he becomes eligible for a five-year extension at a maximum of about $245 million with the Heat this summer. That negotiating window for Jaquez begins on July 1 and closes the day before the start of the 2026-27 regular season.
But if the Heat doesn’t acquire Antetokounmpo, the front office would need to be sure that it could structure any Jaquez extension in a way that would not preclude the team from having max cap space next summer.
Jaquez still has one more season left on his rookie-scale contract.
▪ Simone Fontecchio: He could be offered a minimum deal whether Antetokounmpo is acquired or not. But the need for a skilled three-point shooting forward would be amplified if Miami acquires Antetokounmpo.
This story was originally published June 9, 2026 at 11:39 AM.
