The Miami Heat finally captured their whale Monday night, acquiring Giannis Antetokounmpo from the Milwaukee Bucks in a six-player blockbuster.
While these rumors persisted for weeks (and even months) after Miami couldn’t score a trade at the deadline, the Heat’s work is only just beginning. The draft begins Tuesday (Heat have No. 41 pick) and free agency begins next week. Antetokounmpo makes life a whole lot easier for Bam Adebayo and Co. But there are still plenty of holes they must plug.
What do the Miami Heat have left?:
The biggest — and most consequential domino — is Andrew Wiggins’ $30.2 million player option, which must either be exercised or declined by June 29. If he exercises it, he’ll be playing 2026-27 on an expiring contract — pending an extension — and will be tradable.
If he declines it, he’d enter unrestricted free agency, where he would be able to re-sign for any amount worth up to the max. But his salary would no longer be movable — unless his next team was willing to negotiate a sign-and-trade.
Miami also must navigate Norman Powell’s unrestricted free agency. While the 32-year-old struggled down the stretch last season (in part due to injury), the one-time All-Star will add much-needed shooting and floor spacing to the mix.
After that, they’ll have Davion Mitchell, Bobby Portis (who they just acquired), Pelle Larsson, Dru Smith, Nikola Jovic (whose value is at his lowest) and Myron Gardner, among others.
That’s a steep drop-off in depth — at every single position, too. On paper, they have nowhere near enough shooting, playmaking or shot creation to surround Antetokounmpo. And that’s a big issue.
Heat will have few avenues to add:
The worst is the number of avenues the Heat will have to remain after.
Miami will be hard-capped under the $209 million first apron. They won’t be able to exceed that number under any circumstance in 2026-27. Assuming Wiggins declines and re-signs with a first-year salary of $25 million, and Powell re-signs with a first-year salary of $20 million, Giannis, Bam, Wiggins and Powell will be on the hook for $153 million combined. Factor in Jovic, Portis and Mitchell — and the Heat are north of $196.1 million.
They wisely used most of their $16.8 million trade exception to absorb Portis without sacrificing Jovic or Mitchell. But in this scenario, they would not have access to their full mid-level exception ($15.0M), and it would be difficult to use both of their bi-annual ($5.5M) exception as well as their $5.6 million TPE (via Haywood Highsmith). And they’re likely not going to trade any they retain — unless they’re receiving multiple complementary pieces in return.
There are several shooters they could target for the minimum. But Miami’s guard play must also be addressed; it doesn’t have a natural playmaker behind Davion Mitchell, nor do they have any sort of table setter to organize the offense. Antetokounmpo eats a bulk of the usage, but if Powell, Bam or Wiggins is your second-best shot creator, you’re not in a great place offensively.
Defensively, Miami has a unit that will bully teams. On some nights, their best offense will be their defense. This is a top-5 unit with Mitchell, Antetokounmpo and Adebayo at the head of the snake. But the Heat will need multiple interchangeable, two-way shot creators and floor spacers. And achieving that task will be far easier said than done, especially with limited resources.
The most difficult part of forming a contender was securing a 1A talent. They have that in Antetokounmpo; they haven’t had that since Wade and LeBron. Check. But what happens after is just as important, especially since this Heat front office has never built a true title contender in the two-apron economy, a more punitive environment than its predecessors.
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I wonder….
If Giannis is as serious about winning as all indications point to would he be willing to sign an extension less than the ceiling he can make?
What about Powell and Wiggins?
Are they all self aware enough as players to understand that without a few more quality role players they’re not going anywhere?
It’s blasphemy to suggest given how favorable the CBA is for owners. I fully support players demanding as much money as they possibly can. Which makes this ultimately a question of how Giannis thinks about his legacy, and what winning in Miami would mean for him.
Can he break into the inner circle, top ten, of all time players here? Is there any record he wants to chase? What does he think about Wemby and Shai vaulting ahead of him in the competition for best player?
And ya know what, it would be hella fun if LeBron came and played a Jason Kidd for the Mavs but G.O.A.T. role for us. Or a late career Ginobli, except top 5 player or all time role. I have no idea how it’d work on the court but it’d be so much fun.
Good post as I am thinking the same thing. I know guys want and deserve their money, but if Powell can shave a little, then maybe Wiggs opts out and resigns for 2 years at a little less, then they can free up enough money to land better free agents. This is a very intriguing part of the next few steps.
That’s essentially what Miami needs for this not to be a frustrating year. They’ll need some unselfish players contract wise, and there hasn’t been a ton of that in the NBA of late.
Right now if they are able to keep Powell and Wiggins, if they can’t add anything else, they’ll need Pelle to continue to progress and Jovic to wake from his two year slumber (how awful does that extension look right now….)
Great post and I also feel the same. It’s been said that Brunson left money on the table for exactly that reason, so let’s see if Giannis would do the same. I also have suggested and been shot down on the LeBron idea. I also think it would be great fun if he was here, though I doubt that he will do so.
if bam is your second best player i dont believe u can win it all even with greek.maybe and hopefully im wrong aobut this
They’ve already made the Finals twice with Bam as their second best player, and their best player being way worse than Giannis
The NBA has changed since then. Depth is nearly as important as starters. Teams like OKC, NY, SA and others have gotten as far as they have because they have deep (Swiss pocket knife) benches.
Miami will also need to develop a deep bench in order to compete at the highest level. Larsson and Portis are a good start, but not enough.
Miami will require players such as Jovic and Gardner (and possibly the 41st pick) to step up. It will also likely require the acquisition of a couple of players on reduced salary contracts.
Things should get mighty interesting between now and preseason. I think players (such as DeRozan, Thompson, Vincent or ?) on team friendly contracts could be just what the doctor ordered.
jaden ivey chris middleton should be avail.damar prob west coast guy ,klay should go back to gsw end career.there
SM, just to clarify my previous statement about Riley. For many here, the issue was the belief that Riley had become incapable of pulling off any deal like this, not whether the result would be a success. IMO, he showed that he still had some juice, pulling off one of the biggest deals in some time.
It’ll all be in the details I think, especially defensively for us.
And in the consistency that Pelle and Davion bring to their offensive game.
And if Keldon can play legitimate minutes.
Both KJ, but ours is Keshad. 😀
i believe our kj just as good as spurs give the guy some pt
Playoff Jimmy was different, not to take away from your valid point.
perk hating on greek hes so mad boston didnt get him .get his ars off tv hes embarassing himself what hes saying
F him and the horse he rode in on. Boston fans are pissed. Brown is pissed. Media is pissed. Breaks my heart. Couldn’t happen to a nicer team.
Steven a loves south beach ty for that loud mouth
He’s an a-hole with a capital A!
Agree HES A HARD LISTEN
fat perk hes in miami HA HA HA HA
whats going on with keshad coach never plays me johnson
This year may be his year to come out of the shadow and shine, if Heat keeps him. I hope they do. 2 more years at vet minimum.
SPOSTRASIZED
chris middleton on a vet minimum
I think this one could happen. He’s not what he once was, but can still shoot and provide some offense off the bench in very short spurts.
He’s one of several options, although he has been breaking down fast.
Agree. Much riskier than DeRozan
Heat…team of dogs. Mitchell, Bam, Freak, Larsson, Portis, Gardner followed by Wiggs & Norm with the exception of marshmellow Jovic.
The jury is still out on Jovic. Maybe this is the jolt in the behind he needs to snap out of his funk and get his mojo back. He could be a very valuable rotation player if he ever gets his s*** together. He definitely has the size and potential skills.
What he needs now is to develop a little self-confidence, grow a pair of cajones and a exert a little physicality.
Come on LeBron…all aboard!
It would be insane but not sure he would come here to come off the bench or a minimum. So the one avenue I saw this work is trading Wiggins, which I probably wouldn’t want to do for this version of Lebron. Now on a vet minimum, head on down! lol
id take lebron right now over wigg.bron aint coming here 2q.cleve or la id say maybe nyk
I don’t think we are that short on things if we do resign Powell and Wiggins. Dru and Gardner will complement adequately. Maybe Jovic will be able to contribute. And maybe even Goldin will help too. The future is very bright. Maybe another complementary forward type would help. But, we are close already. And having Norm or Bam as number two or three options is pretty solid, not really a deficit.
They will absolutely target a shooting specialist with that 2nd round pick unless some playmaking guard lands in their lap.
They will also be able to get a shooter at vet minimum. I’m hoping for a Hardaway circle of culture to happen. He would be a solid vet off the bench.
Would Malik Beasley be too much of a head case to pick up ? Probably so…with the lingering Rozier memories.
If Sacto buys him out, DeRozan might be open to signing on for the vet minimum. He would be good coming off the bench. He’s still a clutch player at crunch time.
hes a cali guy like u
Yowza. So is my hermano Jaquez. Too bad about him. I think he’ll find his way back here eventually.
lakers eyeing kelel
As HFL said, think he’s likely headed to LA. I’d also say the fit on offense, would be kind of strange. Really hard to imagine Giannis, Bam and Derozan on the court at the same time, all hanging out near the paint.
Off the bench with Larsson and Portis. DeRozan is a master midrange shooter who delivers in the clutch. Add a good playmaker and a 3 point specialist and you”re cookin.