Heat makes decision on option in Pelle Larsson’s contract. Another decision on Larsson is coming
After making a big move to trade for two-time NBA MVP Giannis Antetokounmpo on Monday night, the Miami Heat will spend the coming days and weeks filling out its roster.
The Heat continued that process by exercising the $2.3 million team option in guard Pelle Larsson’s contract for next season.
This Heat decision isn’t a surprise, considering that Larsson established himself as an essential component of the Heat’s rotation in his second NBA season with his quality two-way play as a complementary player.
Larsson, who was selected by the Heat with the 44th overall pick in the second round of the 2024 NBA Draft, displayed improvement across the board this past season.
Larsson, 25, averaged 6.8 more points per game (11.4 this past season compared to 4.6 as a rookie), 1.8 more rebounds (3.5 this past season compared to 1.7 as a rookie), 2.2 more assists (3.4 this past season compared to 1.2 as a rookie) and 12.1 more minutes (26.4 this past season compared to 14.3 as a rookie). The Swedish guard also shot 49.6% from the field, 32.3% from three-point range and 79.7% from the foul line last season.
Larsson logged double-digit minutes in 66 of the 70 games that he was available this past season. The Heat outscored opponents by 2.4 points per 100 possessions with Larsson on the court.
Larsson also thrived while playing in two different roles, showcasing his versatility and ability to play in different lineups. He made 54 starts and played 16 games off the bench last season.
Among all second-round selections in the 2024 NBA Draft, Larsson ranked first in minutes played per game this past season.
The Heat will have another decision to make on Larsson in the months ahead, as he will soon become eligible to sign an extension worth up to $93 million over four years.
Larsson becomes eligible to sign an extension with the Heat starting on July 6, and the window to sign an extension remains open until June 30, 2027. If Larsson and the Heat can’t agree on an extension by June 30, 2027, he will become a restricted free agent next offseason.
After adding Antetokounmpo and veteran forward Bobby Portis in this week’s blockbuster trade and exercising the option in Larsson’s contract, the Heat’s current salary-cap breakdowns includes nine players on standard contracts for next season: Antetokounmpo ($58.5 million for 2026-27), Bam Adebayo ($49.5 million), Nikola Jovic ($16.2 million), Portis ($14.5 million), Davion Mitchell ($12.4 million), Dru Smith (fully nonguaranteed $2.6 million), Larsson ($2.3 million), Myron Gardner ($250,000 of $2.6 million salary guaranteed) and Jahmir Young (fully nonguaranteed $2.4 million).
Andrew Wiggins could join that list if he exercises the $30.2 million player option in his contract with the Heat for next season, which he must decide on by Monday.
The Heat also has until Monday to extend qualifying offers to Keshad Johnson, Vlad Goldin and Trevor Keels to make them restricted free agents. If no qualifying offer is extended, they would become unrestricted free agents this summer.
