Heat continues to prioritize three-point shooting, adding Tim Hardaway Jr. early in free agency
The Heat began Tuesday by retaining three-point shooting forward Simone Fontecchio in free agency, and then continued to address its need for outside shooting when league-wide free agent negotiations were permitted to begin Tuesday night.
Just minutes after the 6 p.m. start of free agency on Tuesday, the Heat struck a deal with three-point shooting guard Tim Hardaway Jr. on a one-year contract worth $6.5 million, league sources confirmed to the Miami Herald. With no salary-cap space, the Heat used a portion of its $15 million non-taxpayer midlevel exception to add Hardaway.
Hardaway is the son of Heat great Tim Hardaway Sr., who is considered one of the best point guards in franchise history and has his jersey retired by the team. Hardaway grew up in Miami and attended Palmetto High School.
Hardaway is coming off a strong season, averaging 13.5 points, 2.6 rebounds and 1.4 assists per game while shooting 44.7% from the field and 40.7% on 6.9 three-point attempts per game in 80 appearances (6 starts) last regular season with the Denver Nuggets. That was good enough for him to finish third in the NBA’s Sixth Man of the Year voting.
Hardaway’s three-point shooting percentage last season of 40.7% went down as a career-best mark. Among the 49 NBA players who averaged at least 6.5 three-point attempts per game last season, Hardaway ranked ninth in three-point percentage.
Hardaway who was drafted with the 24th overall pick in 2013, is preparing for his 14th NBA season. He has shot 36.5% on threes in the regular season during his NBA career, but only 33% on threes in 54 career playoff games.
The Heat entered free agency prioritizing three-point shooting after landing two-time NBA MVP Giannis Antetokounmpo in a trade last week. The free-agent commitments of Fontecchio and Hardaway on Tuesday help fill that need.
After committing contracts to Fontecchio and Hardaway, the Heat’s salary-cap breakdown includes 12 players on standard contracts for next season: Antetokounmpo ($58.5 million for 2026-27), Bam Adebayo ($49.5 million), Andrew Wiggins ($30.2 million), Nikola Jovic ($16.2 million), Bobby Portis ($14.5 million), Davion Mitchell ($12.4 million), Hardaway ($6.5 million), Dru Smith ($2.6 million), Fontecchio ($2.5 million salary, but $2.5 million cap hit), Pelle Larsson ($2.3 million), Myron Gardner ($500,000 of $2.6 million salary guaranteed) and Ryan Conwell (undetermined salary figure).
NBA teams are essentially required to carry at least 14 players on standard contracts and can have up to 15 players on standard deals during the regular seasons, which leaves the Heat with two to three standard roster spots to fill.
Assuming the Heat signs Conwell to a minimum contract that would come with a cap hit of about $1.4 million, the Heat now has about $199 million committed to salaries for 12 players.
With the salary cap for the 2026-27 season set at $165 million and the luxury tax set at $200.4 million, this means the Heat is already approaching luxury tax territory. With two or three roster spots still to fill for next season, the Heat is also on its way to approaching the first apron of $209 million.
The issue for the Heat is because it took back more salary than it sent out in the trade for Antetokounmpo and used a trade exception created last season to acquire Portis, it’s hard-capped at the projected first apron of $209 million for the entirety of the 2026-27 NBA calendar.
That leaves the Heat just about $10 million under the first apron to add two to three players to standard contracts for next season.
Even if the Heat opts to begin this season with 14 players on standard deals (one fewer than the maximum) and a minimum salary (counting about $2.5 million each) is used to fill one of the open spots, the Heat has about $6.5 million left of its midlevel exception to use on another free agent (counting the $1 million safety net that Miami will likely want to save to add a 15th player later in the season).
The Heat still has three players from its season-ending 15-man standard roster available in free agency this summer: Norman Powell (unrestricted free agent), Jahmir Young (unrestricted free agent) and Keshad Johnson (unrestricted free agent).
The addition of Hardaway makes Powell’s return to the Heat nearly impossible unless Miami can find a way to carve out more room under the first apron.
The Heat also currently only has about $6.5 million (portion of its midlevel exception) to offer future Basketball Hall of Famer LeBron James, who informed the Los Angeles Lakers on Tuesday that he would not return to them and is available in free agency. But ESPN NBA insider Shams Charania reported that money will not drive James’ free-agent decision.
Power rotation players who could be options for the remainder of the Heat’s midlevel exception include Nic Vucevic, John Collins, Mo Wagner, Marvin Bagley, Kevin Love, Andre Drummond, Bismack Biyombo and Dwight Powell, Nik Richards and Zach Collins.
Wing players who could be options for the remainder of the Heat’s midlevel exception include Bradley Beal, Anfernee Simons (who is seeking far more than Miami can offer), Tobias Harris, Kelly Oubre and Matisse Thybulle.
Guards who could be midlevel options for the Heat include Collin Sexton, Gabe Vincent, Khris Middleton (has been linked to Miami because of his background with Antetokounmpo), Cam Thomas, Bruce Brown, Jordan Clarkson, Luke Kennard, Jett Howard, Josh Okogie, Keon Ellis, Aaron Holiday, Jevon Carter, Russell Westbrook, Mike Conley, Cam Payne, Tyus Jones and Gary Payton II.
This story was originally published June 30, 2026 at 7:21 PM.
