Miami Heat forward Andrew Wiggins has opted into his $30.2 million player option for the 2026-27 season, NBA insider Jake Fischer of The Stein Line first reported Monday hours before the option deadline. However, a wrinkle from this is that Wiggins subsequently signed a three-year, $64 million extension — tack on two more years for $34 million for the following two seasons, per ESPN’s Shams Charania.
Thus, Wiggins will still be playing the 2026-27 season with a $30.2 million cap hit, making it much harder for Miami to re-sign Norman Powell, barring any other additional moves.
According to Yossi Gozlan’s cap sheets, the Heat are $20.5 million below the first apron, where they’re going to be hard-capped for the new league year. After they sign rookie Ryan Conwell, they will likely only have roughly $12 million of their mid-level exception to use on one (or multiple) players with the rest as veteran minimums, which will account for $2.5 million apiece.
Free agency begins Tuesday at 6:00 p.m. EST.
Why this extension was poor from Heat’s perspective:
There are obviously details and conversations behind the scenes that we aren’t privy to — from if they have something lined up for Nikola Jovic to whether this was the plan from the start for Wiggins.
But on the surface, this is a poor deal for the Heat.
For one, as we highlighted above, this hurts their flexibility in the short-term. By opting out and signing the same three-year extension, Wiggins could’ve saved $10 millionoff the Heat’s cap sheet, which would’ve opened up the full MLE and the bi-annual exception ($5.6M) to fortify the roster.
Instead, Miami is left for slim pickings, barring they trade Jovic, re-route Bobby Portis or acquire something of value in a Norman Powell sign-and-trade, if that happens.
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Depending on how Giannis handles his upcoming contract options, his next potential extension parameters are as follows:
If he is willing to accept a team friendly extension, Miami may be able to get creative in 2027-2028.
It’s a great deal for the Heat. Wiggins is essential and that 17m will pay off next year.
I’ll be curious to see whether Simons, who earned $27.7MM last season, is willing to take a discount to play a featured role on a potential contender like Miami(hoop rumors.com)Hes da best out there for young 2g.
He’s not taking a minimum deal unless that’s the only offer he gets. Been reported by a number of folks he’s looking for more.
agree greek so beach not enough?
It’ll be the only offer he gets
need to get a 2g but with lack of funds maybe 2qs grimes will have to do he can guard is a bro scoring meh.dav and grimes bc will need to be upgraded next year thats not a champ level bc
no disc given this year dam wiggy 30 17 17 y not 20 22 22 we could have kept norm.thanks for nothing your a decent player a #4 option son on champ team
Adding Ben Simmons will be great too. With his court vision, the game will be a lot easier for cutters and shooters.
Also, he brings an elite defensive skill tset o add to those of Giannis, Bam, Wiggins, Davion Mitchell and Larsson
Good news! Now Heat needs another player to join Wiggins and Bam at hitting does mid range. Is Khris Middleton still available?
The emphasis has been on wing men and a guard and rightly so, but mid range scorers are equally important too to break down opponents defense.
Rim attackers solved in Giannis, Bam, Wiggins and Norman Powell if he stays.
Looks like Keshad is a goner. Heat don’t appear willing to extend a qualifying offer.
Roster is what:
Giannis, Bam, Wiggs, Larsson, Mitchell, Portis, Jovic and the rook? Need some players…guess the guys we are looking at won’t be signing for a couple weeks from tomorrow.
Yup, Keshad is now a free agent.
Free agency doesn’t start until tomorrow. No doubt conversations are being had around the league, so the first few hours will be hard and heavy.
Can’t imagine a lot of guys just opt for league minimum. That usually happens after cap dollars dry up. I think it’ll be a while before we get the full roster picture, but maybe I’m wrong.
Gardner is still under contract and has a $500k minimum guarantee.
Forgot about him, good call.
and Smith
plus Smith & Gardner.
Happy to have Andrew back. An important factor is he will be at his natural position now, and should be even more effective.
I guess it’s unlikely we keep Norm now unless we get some help from someone else. That’s going to hurt as for probably forty games last year, he was the best player on the team. I will miss him if we lose him.
But, this is great news nonetheless!
Then the end of year he was barely even trying on defense and his overall game quality dropped significantly. I don’t know if it was strictly due to injury. It’s something we have to be careful of since we appear to be in on several other older players. That’s why I’m okay to let Norm walk and get younger at that spot. Now if he wants to give a discount then I’m okay with that, but Grimes or Simons for me.
I hear you and can see your point. Simons would be great and Grimes very good as an alternative.
What about Marcus Smart? I think it would be quite an intelligent move. I know we need more scoring and he can’t provide that as much as he’s a completely different type of player, but he’s at least as good as Norm, and more durable.
Marcus Smart is streaky. When he is good he is good and when he is bad he is awful. Unpredictable is his game, but I like his Mojo, he keeps putting in efforts even on his bad day.
He is really good player, but not for Heat right now. We need a pure shooter.
What cost the Heat Powell is not Wiggins but having to help MIL cut salary by taking on Portis $15m in the trade, but that was a cost of getting Giannis that had to be paid. No Portis, or a Portis for Jovic swap and Miami could resign Powell. Not a huge deal but will be interesting to see media talking about how Heat has lost too much from last years team to be competitive
I think the media talking points are right. Very thin team right now. It’s bench it going to almost entirely be made up of vet minimum guys. Maybe it’ll be enough, but I have major doubts.
It’s a frontcourt heavy team right now with Giannis and Bam, then Portis and Jovic off the bench. Which is good because frontcourt is a position of scarcity, with BOS, LAL others really looking for more frontcourt help, SAS and OKC loading up in draft on centers, etc.
Just need to find quality shooting at guard spot. Pelle’s 3PT shot is probably now the biggest swing factor for next year. Davion/Pelle/Wiggins/Giannis/Bam is a great starting 5. Portis and Dru Smith off the bench as 6th and 7th in rotation as of now, although goal should be to have Jovic as 6th man
MIL was seen as a fringe contender last year in east, with Myles Turner as the #2/second highest paid player. Now Miami isn’t a contender according to the same media, with much more talent on roster than MIL had last year
2 year/$24m per year for Wiggins, then a player option in year 3 that he would decline at his current level. Frontloaded 30m this year when Larsson is on a team option, then 17 next year when Larsson would need to be resigned at fair value
The more I think about it I think it helps to match salaries this year for say a Lebron and the team that trades for him gets the savings on a player they have for a few years.
You may be right
Wiggins at $17m next season will be one of the best bargains in the league.
Would be absolutely a no from me:
https://www.hoopshype.com/story/sports/nba/rumors/2026/06/29/ben-simmons-planning-nba-comeback-mentions-miami-and-philadelphia-as-potential-landing-spots/90740729007/
Talk about lack of shooting. I guess if Pat did this, the goal would be to return to the 90’s and hold teams to 70 points.
He is a great player, when healthy. We wont find any better for vet min.
I don’t get the need for the extension. By opting in, he’s limited Miami. Even if affordable in the next few years, wouldn’t the flexibility have been more desirable? I would have been all about the extension if they shaved a few million off this season, but as it is, I don’t get it.
Guessing the Heat management knows more than me, but seems like we’re back to rock and a hard place when it comes to filling out the roster. Roughly can sign 1 player at like 14, and the other four would have to come at league minimum of $1.27. Every player we sign with a decade of experience would lower that 14M too.
See below. I thought he is taking less this year, but more over the life of the contract.
If it’s the other way around, I don’t know how you keep him. The Heat needs salary flexibility now.
I guess it could be for a trade to the Lakers letting them know he would be locked in.
If he stays I guess that’s for year 2 build lol
Let’s wait for the other shoe to drop.
That would be the only logical solution to me, but then we just open another hole on the roster.
Maybe it really is a two year re-build.
Hahaha. Guess who told me ‘no way’ when I suggested 3 years at $20 per year?
Shams says Wiggins resigned for 3 years at $20 million per
Whoa! If true, let’s go Wiggs! We back! lol
Edit: I guess we get savings next year lol
I was hoping this season to free up enough for Powell.
That’s great!
I’m seeing 3 years $64M, or roughly a 2 year – $17m per season extension after this years $30M opt in.
I think the deal is to take less than the $30m this season to free up money to sign other players, possibly Powell.
Seems you’re right. But not sure how it’ll fit.
Big news! I think goodbye Wiggins.
Goodbye Norm. Hello Grimes! 😛
Wiggs is a great player to have on the team. Hope they can make it work with the fit.
I am a Wiggins fan, but don’t think the Heat can fit that salary in.