Tyler Herro finished the best year of his career and becomes extension-eligible on October 1 with a window through the end of October. The Heat must either agree to an extension in that window or wait until next summer, when Herro could test unrestricted free agency. Herro may demand a substantial raise after earning an All-Star selection, potentially seeking $40–$50 million per season, while a team-friendly deal might be $35–$38 million. If salary demands exceed the Heat's valuation, the team could postpone negotiations, pursue a trade, or attempt to negotiate a lower, team-friendly extension.
Tyler Herro may be coming off the best year of his career, and he may feel he's worth a huge contract extension, but that line of thinking is making his upcoming contract decision an absolute nightmare for the Miami Heat. That's because even though Herro may strongly believe in himself, he's not currently worth $40 million per season in today's NBA economy.
Officially, Herro becomes contract extension eligible on October 1. That extension window runs through the end of October. If the Heat and Herro don't agree to an extension during that window, the Heat would then have to wait until next summer to hammer out a new deal. At the same rate, Herro would then have the opportunity to test unrestricted free agency if he so decided.
Perhaps we're all wrong. Maybe he does elect to do the team a favor and sign a team-friendly extension, one that maybe only gives him a slight raise. Maybe something in the $35-$38 million per year range. But if Herro holds strong at his demand, which will likely be asking for an extension worth between $40 and $50 million per season, the Heat may have no choice but to kick the tire down the road on a decision.
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