Nikola Jovic, Heat Agree to 4-Year, $62.4M Contract Extension, Updated Salary Cap

The Miami Heat and forward Nikola Jović agreed to terms on a four-year contract extension worth $62.4 million on Wednesday, according to ESPN’s Shams Charania.

Jović is heading into his fourth season with Miami after the team selected him with the No. 27 overall pick in the 2022 NBA draft.

The Heat have just over $278.8 million in total cap allocations and $62.6 million in first-apron space for the 2026-27 season, the first year that Jović’s extension will kick in (via Spotrac).

The 22-year-old has shown encouraging signs when healthy, as he’s coming off a 2024-25 campaign in which he averaged a career-high 10.7 points to go along with 3.9 rebounds and 2.8 assists per game. He shot 45.6 percent from the field and 37.1 percent from three-point territory.

Jović also looked sharp while suiting up for Serbia during EuroBasket 2025. He recorded 12.8 points and 4.0 rebounds per game on 60.0/52.4/92.3 shooting splits during the tournament.

Heat coach Erik Spoelstra, who traveled to Europe to watch the competition, was impressed with Jović.

“I’m really excited for Niko,” Spoelstra said, via Anthony Chiang of the Miami Herald. “I love it when he spends time with the national team. Every time he comes back to us, he comes back more mature. I think being around a group that knows how to win, that really cares about winning, the team is so connected also. So I think it makes a big impression on him. We’re looking forward to some great things ahead for him with us.”

Injuries have prevented Jović from making a larger impact in Miami’s rotation, as he’s appeared in just 107 of a possible 246 regular-season games to begin his career.

He was limited to just 15 games as a rookie due to back issues and only made 46 appearances last season after suffering a broken bone in his right hand on Feb. 23.

Still, the Heat are clearly excited about Jović’s long-term potential after making a financial commitment to him on Wednesday.

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