“There’s winning, and then there’s misery,” as Miami HEAT president Pat Riley famously said. There are no in between for competitors. Either you remember the triumphant moments that brought a smile to your face every day, or you sit for days thinking about what might have been. Well, the Heat experienced the latter as their season ended against the Boston Celtics on Wednesday. Without Jimmy Butler, competing against an elite team like Boston was always a tall task. This season has showed promise at times, but never ultimately came together as the Heat have hoped.
Now, the Heat must focus on the future and how they can become title contenders once again. Undoubtedly, they have huge intentions, and rumors have it that they hope to add another star on the same timeline as their All-star center, Bam Adebayo. However, work remains for the Heat in this new quest.
As the Heat prepare for a reflective offseason, here are the things they are facing:
Jimmy Butler’s Extension
The center of the Heat’s offseason outlook is the upcoming Butler contract extension talks. Starting on July 7th, the Heat and Butler can begin negotiations on a max extension. Butler will likely approach the Heat this offseason for a maximum two-year contract extension valued at approximately $113 million, according to the Miami Herald. In 2021, Butler agreed to a $146.4 million, three-year contract that included a $52.4 million player option for the 2025–2026 season. Butler appears to be planning to pursue a new agreement with the Heat, which would take the place of the previous option and start that year.
Since signing with the HEAT in 2019, Butler has led the team to three eastern conference finals appearances and two NBA finals appearances. However, he has missed a lot of games with injuries and load management over the years as he ages. Re-signing Butler to this new deal has its risks. But if Miami decides not to go forward with it, it could lead to a disgruntled Butler heading into the 2024-25 season. Butler has always said he wants to retire with the Heat. We will see how these negotiations go over the coming months.
Bam Adebayo’s Extension
Like Butler, Bam Adebayo will also be eligible for a max extension this summer. Adebayo would be eligible to sign a $245 million, four-year supermax extension with the Heat if he fulfills the supermax requirements. Being nominated for Defensive Player of the Year or making one of the first, second, or third All-NBA teams this season will qualify him for the supermax extension. Alternatively, he would be eligible for a three-year, $165 million extension that would not kick in until the 2026-27 season.
Don’t expect much drama to occur between the HEAT and Adebayo. Adebayo has become one of the best centers in the NBA. He’s the cornerstone of the franchise and likely continue to recruit other stars to join him in Miami. Furthermore, he’s only 26 years old. Expect Miami to offer the full max extension.
Star Hunting?
Just as they did when they went for Damian Lillard last off-season, the Heat will undoubtedly want to go star hunting again. They usually are rumored as potential destinations for star players, as they were with Bradley Beal before he got traded to Phoenix. ESPN’s Adrian Wojnarowski expects them to go star hunting again. Wojnarowski believes Miami is “in a great position” to use some of its assets to swing for a big trade.
The majority of NBA teams are monitoring the Cleveland Cavaliers. Cleveland may consider trading Donovan Mitchell if they believe he won’t sign an extension. Brandon Ingram, who’s eligible for extension talks, might be shopped by the New Orleans Pelicans. Trae Young is another name discussed among league circles as a star who could be traded. What Miami has to work with will determine how practical that is.
Free Agency
The Heat currently has seven players on guaranteed deals. Additionally, there are four players with player options such as Kevin Love, Josh Richardson, Caleb Martin, and Thomas Bryant. Given the weak market and the lack of wing players, there’s a great chance Martin decides to opt out of his contract. Miami also has restricted free agents in Haywood Highsmith, Alondes Williams, Cole Swider, and Jamal Cain. Delon Wright and Patty Mills are both unrestricted free agents.
All moves and decisions will be made with the second apron in mind. According to Spotrac’s current cap projections, the first apron is expected to be about $178.7 million with the second apron expected to be around $189.5 million. Assuming all options are exercised, the Heat would have $182.3 million in taxable salary on its books—nearly $5 million tucked between the first and second apron. This doesn’t account for the Heat’s 2024 first and second round draft picks. In all, don’t automatically assume every Heat free agent will be back.
An off-season of questions awaits the HEAT. We’ll see what direction they will go.
