Heat, Tyler Herro ‘doubtful’ to reach terms on contract extension as team keeps options open for 2027

Miami has talent on its roster — Bam Adebayo is widely respected as one of the better two-way centers in the league, Tyler Herro was an All-Star last season, and the addition of Norman Powell brings more scoring — but it doesnâ€t have a top-10 player, a championship cornerstone kind of player on the roster.

That appears to have impacted contract extension talks with Herro, as discussed by Tim Bontemps and Brian Windhorst at ESPN. Herro has two seasons and $64 million still on his contract and would like to discuss an extension, but that went nowhere, Windhorst reported.

“Tyler Herro is coming off an All-Star season and is definitely interested in extending with the Heat, but there havenâ€t been substantive talks to his point and a deal is doubtful, sources say.â€

Miami wants to keep max cap space heading into the summer of 2027 — when the class could theoretically include Giannis Antetokounmpo, Nikola Jokic, Karl-Anthony Towns, Donovan Mitchell, James Harden, Trae Young, Kyrie Irving and others — Bontemps reports. Not having an extension with Herro adds flexibility (the only locked-in salaries on the Heat books in the summer of 2027 are Bam Adebayo at $53.8 million and Nikola Jovic at $14.9 million).

That cap space is more about flexibility, max players are not jumping teams via free agency very often under the current CBA. Plus, look at the names on that list. Jokic has said he wants to be a Nugget forever, and they just retooled the roster to better fit around him. Whatever happens with Antetokounmpo will be decided next summer when the Bucks offer him a max contract extension and he either signs it or Milwaukee entertains trade offers. New York is likely to extend Towns next summer. The rest of that list likely doesnâ€t get to true free agency, either.

What is clear is that when a big name becomes available via trade, the Heat will be one of the teams in the mix. A lot of those elite players would fit nicely next to Herro, but it looks like Miami wants to keep its options open.

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