Tyler Herro becomes eligible Oct. 1 for a three-year extension worth nearly $150 million, but the Heat appear reluctant to sign him. Miami is pursuing future cap flexibility, potentially opening more than $90 million for 2027 free agency with Bam Adebayo as the only guaranteed salary that summer. Extending Herro would consume significant space by paying roughly $46.2 million in one season and would trigger a six-month trade restriction that spans the February deadline. Herro could command larger paydays in 2027, including first-year max figures and multi-year deals exceeding $200 million.
Extending Herro on any type of deal runs in stark contrast to this approach. He is already on the books for 2026-27, but he's scheduled to come off the ledger during 2027 free agency. Bam Adebayo is the only Miami player owed guaranteed money that summer. The Heat, in theory, could have over $90 million in spending power. Putting Herro on the docket at any type of price-a max extension would pay him $46.2 million that year-substantially knives into that space.
Then again, Herro's extension isn't just about maintaining cap flexibility down the line. It is also about maximizing Miami's trade options. If Herro signs a new deal, he can't be moved for six months. Since an agreement cannot be reached until October, this takes his restriction past the February 5 trade deadline. Signing an extension automatically takes him off the table in any midseason deals.
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