(Photo via Miami Herald)
Following the season-long Jimmy Butler contract extension drama, the Miami Heat have yet another financial commitment decision on the horizon. Tyler Herro could be eligible for a three-year, near $150 million max extension as early as October 1st.
If the Heat or Herro wait until the 2026 offseason, that figure could increase to four years at around $207 million. The talented combo guard is in the midst of going into his third of a four-year deal that he signed in October 2022.
That first extension was for $130 million across those four years, set to earn $31 million for this upcoming 2025-26 season. If no new extension comes to agreement within the next year, he is set for $33 million in the final year of his original contract that keeps him on the Heat through the end of the 2026-27 campaign.
A lot of numbers to note here. Essentially Herro could see a $20 million annual salary increase with a new extension this fall or next offseason.
Herro emerged as a first-time NBA All-Star last season. He is coming off averages of 23.9 points, 5.5 assists, 5.2 rebounds and 0.9 steals on 47.2% shooting and 37.5% from 3-point range. The scoring, assists, rebounding and shooting efficiency numbers were all good for career highs.
Is banking on even more continued growth for Tyler Herro justified for a new max contract?
Outside of a disaster Heat season that dealt with Butler’s dilemma, a losing record and a first round elimination playoff sweep, Herro provided one of the only silver linings.
Not only did he finally develop into an All-Star, but he took home the NBA’s 3-point champion title at All-Star weekend.
He made it a point to alter his shot diet to feature increased 3-point shooting volume and higher quality rim attacks. That adjustment led to the most efficient offensive season of his career thus far. Herro attempted a career-high 8.7 attempts from deep on the year.
But the max extension eligibility still comes with question marks in his game. Will he continue to improve as a defender? Will he step up on the biggest stage in the NBA playoffs? Can he stay healthy?
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Herro needs to carry his improvements into the next season, but he also has room for growth in other areas to justify a max contract offer.
“I’m going to let my agent and the organization figure that out. Everyone knows I want to be here long term and I’m definitely excited to see what they have to say for the extension, see if they want me here as much as I want to be here.”
— Tyler Herro on upcoming October contract extension talks (via Anthony Chiang)
Although availability has been an issue for him in recent years, he appeared in a career-best 77 games this past season after being deemed “fragile” by Pat Riley. And that reliability will especially need to continue no matter what the on-court development looks like in upcoming years.
Lastly, it comes to the point where the Heat, and perhaps Herro, will each need to question the state of the franchise as a whole. It’s always tough to invest financial resources when the team is stuck in mediocrity.
Luckily for Herro, Miami will have to fill the money somewhere on their payroll. And both sides have expressed a mutual interest in continuing a partnership longer term.
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Tyler Herro is at best belong to 3rd tier stars. Hard to imagine Miami will win it all with Tyler Herro as the main guy. i already think they already overpaid Bam. they should not make the same mistake on Tyler.
I called it. Duncan for Fontechio.
Duncan $48 million to play at the JCC/Rec league 😉
$16 million a year, 3 years. Certainly seems some people valued him more than most here, including me. I thought about half that. Congratulations Duncan, proving a lot of people wrong.
Good call
More reports that S&T for Duncan is going to happen. They will still have $14 mil
It seems the Heat are (hopefully) negotiating with several teams – GS, Utah, Detroit (?). I would be fine if they get John Collins.
He’s an empty calorie progress stopper, but since he’s a local kid, maybe. 😛
For Duncan it could be him for Fontechio as I know Detroit was trying to trade him.
I also heard the reason the Lakers did not trade for Wiggins was because the Heat wanted Rui, Knecht AND a 1st and Lakers thought they were crazy. As options dry up, I could see them circling back, but I don’t think the Lakers will give up the first unless Bron does us a solid and forces them lol
Somebody wake up Pat Riley. Let him know free agency started yesterday
Reporting now that it seems Duncan isn’t coming back and probably a Detroit S&T or outright sign.
I don’t want to sign guys just to say we have new players on the team. It should fit the gap year window and not signing progress stoppers or guys with a lot of years for a meh guy.
I know a couple guys I would be okay with that fit that, but I need to go check the updated available list.
duncan for hardaway sounds equal
That would be pretty cool circle of life stuff lol
I’m down with that
I would do that and make him a 2nd generation heat player. Also another option is Malik monk.
Scratch that last part, since a potential trade fell through with det wanting to do a sign and trade with kings, since they wanted more sweeteners.
This probably opens the door wide open for Duncan to Detroit.
I would have been okay with Monk as the scoring option off the bench, but did not like that he still has a few years on that deal.
Much better option. But, maybe Dunc isn’t enough.
Hardaway just went to Denver. That west is crazy. If anything, as more time passes, and those teams load up, it could force the Lakers back to the negotiating table with the Heat.
Dunc would be a good fit in Detroit. Would also like to see him in Denver
80 yr olds take naps during the day shhh let him sleep his moves suk anyway
Thats the best thing you can do.. I m doing it every day..
Nope. Sorry Ty I like you but that kind of money should be for 2-way stars or at least averaging 30+ pts or near it. Well that’s just me.
Yes, that contract will be an albatross. We should trade Ty before it comes up, see what we can get. It may be that his contract situation will make him harder to trade. He was healthy last year and lived up to his contract, but it seems unlikely he could improve enough to justify the bigger one. Seems to me, now is the time to trade him as his value is high.
Yes, just like it would have been better to trade Butler in early 2024, the same is true for Herro now. The only alternative that I see would be to not give him the extension and let his contract expire. But if we can bring back assets, that is clearly the better option.
The worst option, of course, would be giving him anywhere near the max.
Agreed. I would like to see something get accomplished here. Now, the free agency pie is pretty down to crust. But, trades are still there to be made. We seem to be in a very similar situation to last year, stagnating. It’s not easy with each passing day to remain patient. I guess there are still some other teams who have done little or nothing, but the list is dwindling.
trade Herro for Ja
I would roll that dice.
me 2.jas much more talented than ty but a major headache so that might even it out
I would trade herro for ja definitely, but I would trade herro for dejounte, whose probably more attainable. Since pellies traded cj, and probably need more shooting, and scoring to surround zion. Plus they Been making a lot questionable moves this off-season.
I would need to know his medicals with his injury. If they thought he could get back to normal, probably. He has more playmaking ability that might contribute to overall offensive health.
I agree wholeheartedly 🙏
Agree.
sga 4 years 285 mill.
4th year almost $80M!
players use to want to come to so beach(dwade) not no more
The roster and the cap is the issue. That is why we hear about trades and not signing big time FA’s.
wiggy is def tradeable along with tyler.rest are scrubolas less dav bam ware.whos fault on roster .pat needs to go 2qb
Wiggs is my new least favorite player on the Heat . That includes Terry Rozier
Tradeable to only a few specific teams, so not as easy. I wouldn’t force it. If nothing good is out there see if something comes up closer to trade deadline like an injury on a contending team.
east is getting weaker by the minute.we add demar kuminga we could be in finals
Gonna be some impressive cap gymnastics to pull that off…
It’s not happening. Now signing Dame and stashing him while we tank, absolutely I can see that happening.
stash dame he will be playing at jcc with dunc and co
Possibly, but again, I could see them doing that at the right price.
think he hangs it up prob goes to port for a swan song
Surprised the Bucks waived and stretched Dame. That is a lot of years of dead money. He would have probably been back by the playoffs. Someone is going to take a shot on hom doing just that and it being like adding a guy off buyout market in March.
So, Dame is moving to Miami to sign vet minimum next year?
It’s written on the wall. 😉
He might just go back to Portland to rehab near his family.
Until his family hears he’s signing in Miami. Then they move down after hurricane season lol
Lol I’m all for getting and stashing dame, but we gotta trade herro too. If herro is still here, when dame is fully recovered, they would probably both start, and get feasted on defensively.
I would think he’s probably a bench guy when he can finally move physically. The only scenario both would play together would be if Dame was closer to being Dame Time than Father Time.
Hmmm interesting indeed…but we shall see cuz ya know spo likes running them 3 guard lineups sometimes.
marlins win streak who saw that coming
Loving it, sir.
me 2 came out of nowhere
I would say bout30 saw that coming. He’s mentioned the Marlins improving lately.
Thanks for the shout out. I wrote about the Fish above.
Now, my post is below.
That is who I am enjoying now. Their new GM is really sharp.,He has brought in these new hitters who all have really nice swings and all have plate discipline. These youngsters look like veterans on a good team. If the Marlins didn’t have injuries to their starting pitching, they would challenge for the playoffs in Bendix’s first year! It’s remarkable how fast the right GM can turn a team around. I saw it also with the Panthers. Bendix, the Marlins GM, has built a respectable team from a doormat even with the lowest or second lowest payroll in the league. The owner is going to open his wallet soon too. There could be excitement coming in the summertime in Miami. How many teams go 6-0 away at Frisco and Arizona like the Marlins just did. It’s very rare.
I don’t think the team can reasonably compete with Tyler and Bam. So I would say handicapping your team by having 2-50+ million dollar 2/3 players, without having a #1, would be a huge mistake.
This isn’t to say Tyler hasn’t earned it, it’s just stating the obvious. Right now Miami isn’t built to win, and having two players locked up in huge contracts, that can’t carry a team on their own, is a mistake.
I might be more apt to pay Tyler, what he’s likely earned given the craziness that is NBA contracts, if Miami was flush with draft picks to build around Bam and Tyler. But they aren’t.
They can’t build through Free Agency without cap space and can’t build through the draft without higher picks. So in the end, I think they need to look to move on from Tyler.
Reasonable take. Bam is a better value for this team.
That’s a tough one.
The real question is, if Herro is a no. 2 of championship level team. If yes, he deserves 40-50 a year. If not, better to be traded.
We know he is not no. 1, but he must play as one, with bad results. He might be better playing along a better player.
herros a 6th man 15-18 mins a game.becuase of his non nba body his no d u cant pay him more than 10 mil.pat knows that or does he?
Well, you know, he was an all star last season. I wonder why.
how was he in playoffs second half of season .when his legs are fresh all star offensive player
I always thought that was his best role, 6th man, instant offense guy. But, can’t pay a guy 50 mill for that. Have to trade him because it will not work out as smoothly if we wait.