(Photo via Getty Images)
The Miami Heat are entering back-to-back seasons in which a top talent on their roster is due to get paid a lucrative new contract extension. Of course, the Jimmy Butler contract drama clouded the organization most of last season.
But now, Miami’s newest home grown All-Star in Tyler Herro can potentially get his own shiny new deal.
Beginning on October 1st, Herro is officially eligible to sign a three-year extension of up to $150 million. If the Heat or Herro wait until next offseason in the summer of 2026, he could be eligible to secure a four-year, $207 million extension. Both figures are at least $50 million annually across each season. Considering that the talented guard is already sidelined to start this new year due to offseason foot surgery, offering that extension— if at all— may now be delayed.
Currently, he is still under contract for two more years. He is in the midst of a four-year $120 million deal that he had signed at the beginning of the 2023-24 campaign.
Keep in mind that there is assuredly still some wiggle room in negotiations between both parties here. Herro’s most recent injury, combined with his already shaky availability across his entire career, could give Miami a bit more leverage. A lot of the national media voices have projected Herro to be worth closer to a $40 million annual price tag.
Tyler Herro doesn’t seem to be concerned about getting a deal done as soon as possible.
In a recent interview with local South Florida reporters, Herro had discussed his current mindset about securing his extension. And he even made a subtle jab at Butler in the process.
The full quote from the interview can be found below:
“I do want to say that it’s not a top priority (right now), and I’m not going to hinder this season on getting an extension or not. I’m not going to lose my joy. If we don’t get something done, I’m not going to be a problem throughout the organization. I’m happy to be here, at the end of the day, and there are two years left. I would love to get something done, like I said, but we’ll see what happens.”
— Tyler Herro on his contract extension eligibility
Butler famously began making things truly ugly, even more than they were already, in his last post-game press conference as a member of the Heat. He proceeded to tell the national media that, “I want to see me get my joy back from playing basketball. And wherever that may be, we’ll find out here pretty soon.”
He would go on to be traded to the Golden State Warriors just a couple of weeks after.
The entire Butler saga that took place last year impacted a lot of the Heat’s 2024-25 season, including Herro. So the reassurance from Herro, despite making that jab at Butler, makes it more clear that he wants to be here and will handle his contract talks much more professionally.
Nikola Jovic was the most recent Heat player to be inked to a new extension.
The biggest thing is that Herro acknowledged that he won’t let these negotiations with the Heat front office hinder the team’s season. There is a revamped core of Herro, Norman Powell and Bam Adebayo ready to get things going and compete in the East again.
As mentioned, there is still time for him and Miami to work things out financially. Each side has built a healthy relationship over the course of his seven-year career here.
And Herro seems to be fully committed to the upcoming 2025-26 campaign as a member of the Heat, regardless of his contract.
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The only way Tyler gets an extension is if it’s at a similar price to Jovic
Riley needs to find a way to make the Heat a contender. I do not believe that spending $40-$50M per year on Herro will do that.
But, our biggest concern should be to not let anyone lose their joy.
Snarl away, my guy. Snarl away.
That first time Ty made the snarl face was in the Covid playoffs, his rookie season. He’s had some nice moments over the last few years but that still remains as perhaps his best.