Miami Heat Rumors | Hoops Rumors

Heat Notes: Martin, Adebayo, Two-Ways, Swider

July 4th, 2024 at 8:23pm CST by Luke Adams

Before he officially passed on his $7.1MM player option for the 2024/25 season, the Heat offered Caleb Martin an extension that would have been contingent on him picking up that option, according to Barry Jackson and Anthony Chiang of The Miami Herald. While the exact details of that offer are unclear, Miami could have given Martin a starting salary as high as about $18.1MM in 2025/26 based on the NBA’s rules for veteran extensions.

The Heat haven’t given up hope of retaining Martin, but they’re only about $7MM below the second apron and have no desire to surpass that threshold, so their ability to make a competitive offer is extremely limited. Although the club could technically come close to matching the $7.1MM option the 28-year-old declined for 2024/25, that significant raise for ’25/26 is no longer possible, since free agent contracts can’t increase by more than 8% annually.

A source close to Martin tells the Miami Herald duo that the forward had been hoping to secure a deal worth more than $15MM per year. While some teams have expressed interest, it doesn’t appear that any offers in that range are on the table for Martin at this point.

Here’s more on the Heat:

It has been a fairly quiet offseason for the Heat so far, but that’s not because the team is reluctant to spend up to the second apron or use assets in trades, according to Jackson and Chiang. Three people who have been in contact with the team say Miami is maintaining its flexibility for now in case an opportunity to acquire an impact player opens up — it’s possible that sort of player could hit the trade market in the coming days or weeks, and the Heat don’t want to close the door on that possibility.
The Heat have had some trade talks with teams, including one club with “substantial” cap room, according to Jackson and Chiang. The Herald reporters don’t have details on the potential trade partner or the players who were discussed, but the Jazz and Pistons are the only clubs who still have the sort of cap room that could be considered substantial.
Bam Adebayo intends to sign the three-year contract extension that he and the Heat agreed to last week “pretty quickly” after he becomes eligible to do so on Saturday, per Jackson and Chiang. The deal will tack on three years to the two seasons left on Adebayo’s current contract and will run through 2028/29. If the cap increases by 10% in each of the next two offseasons, the star center would earn $165,348,864 on the three-year extension after making a total of $71,944,960 across the next two seasons.
In a separate story for The Herald, Chiang explores the Heat’s two-way logjam, with Dru Smith, Zyon Pullin, and Keshad Johnson currently occupying the three slots and two-way qualifying offers still out to Cole Swider and Alondes Williams. If Miami wants to bring all five players to camp, at least two would have to be there on standard or Exhibit 10 deals. Swider, who is part of the Heat’s Summer League roster, says he’s focused on developing his game, not his contract situation. “Obviously, the Heat have my rights as a restricted free agent,” Swider said. “I want to be here. But at the same time, it’s all up to the things that I can control and I’m going to bring the energy, the effort and try to lead this summer league team to have a great summer league.”

Heat Sign Alec Burks To One-Year Deal

July 4th, 2024 at 1:11pm CST by Luke Adams

July 4: Burks’ minimum-salary contract is now official, the Heat announced in a press release.

July 3: The Heat have agreed to terms on a one-year contract with free agent guard Alec Burks, reports Adrian Wojnarowski of ESPN (Twitter link). It’ll be a minimum-salary deal, confirms Anthony Chiang of The Miami Herald (Twitter link).

Burks, who will turn 33 later this month, is a 13-year veteran who has played for seven teams since entering the NBA in 2011, including both the Pistons and the Knicks in 2023/24.

The former 12th overall pick had a solid first half in Detroit, averaging 12.6 points per game with a .401 3PT% for the league’s worst teams. However, he struggled after being sent to New York in a deadline deal, scoring just 6.5 PPG and making 30.1% of his three-pointers in 23 regular season games down the stretch.

Burks has a solid track record as a scorer and shooter (.383 career 3PT%) and finished the year strong this spring, reclaiming a spot in a banged-up Knicks’ rotation during the Eastern Conference semifinals. In New York’s last five playoff games vs. the Pacers, he averaged 17.8 PPG on .510/.429/.844 shooting.

There should be minutes available in Miami for Burks, who will be tasked with helping to fill the holes created in the rotation if Caleb Martin and Haywood Highsmith don’t return to the team.

Burks projects to be the 13th player on a standard guaranteed contract with the Heat. That total doesn’t include Orlando Robinson, whose 2024/25 salary is non-guaranteed and whose hold on a 15-man roster spot appears tenuous.

Free Agent Rumors: DeRozan, Kings, Spurs, Morris, Bridges, Jones

July 3rd, 2024 at 9:59pm CST by Luke Adams

Following up on a report from Marc J. Spears stating that Sacramento is a “dark horse” suitor to watch for DeMar DeRozan, Barry Jackson of The Miami Herald confirms (via Twitter) that the Kings and Bulls have had discussions about a possible sign-and-trade deal involving the free agent forward.

The Spurs have also emerged as a possibility for DeRozan, Jackson adds. The 34-year-old previously spent three seasons playing for Gregg Popovich in San Antonio from 2018-21.

While Jackson (Twitter link) isn’t entirely ruling out the Heat for DeRozan, he notes that the club’s cap situation makes it impossible to give the forward the kind of contract he’s seeking, so the front office seems more likely to preserve its assets in case a better trade opportunity arises — as a first-apron team, Miami would be in a better position to acquire a player who is already under contract than a free agent like DeRozan via sign-and-trade.

Here are a few more free agent rumors and notes from around the NBA:

The Sixers have expressed interest in the possibility of a reunion with free agent forward and Philadelphia native Marcus Morris, multiple sources tell Keith Pompey of The Philadelphia Inquirer. However, the 76ers aren’t the only team eyeing Morris. The Pistons, Hornets, Cavaliers, Mavericks, Heat, and Timberwolves have all expressed some level of interest too, Pompey writes.
It’s unclear where Miles Bridges will end up, according to Rod Boone of The Charlotte Observer, who says that the Pistons‘ interest seems to have dwindled following their front office and coaching changes, while the Sixers were “never in” on the free agent forward. The Hornets and Bridges publicly expressed interest in a new deal earlier in the offseason, but they’ve had over two weeks to talk and still don’t appear to have momentum toward an agreement. “I think they end up signing and trading Bridges,” a rival executive told Boone.
The Clippers continue to have interest in bringing back Kai Jones, but the free agent big man has an ankle injury that will prevent him from suiting up for Summer League, a source tells Law Murray of The Athletic (Twitter link).
The Pistons are one of the only teams that still has significant cap room available and they’ll need to at least reach the minimum salary floor before the season begins. Omari Sankofa II of The Detroit Free Press (subscription required) suggests a few potential free agents targets for Detroit, including Malik Beasley and Gary Trent Jr., while James L. Edwards III of The Athletic considers trade scenarios that might make sense for the club’s cap room.

Heat Re-Sign Thomas Bryant

July 3rd, 2024 at 7:54pm CST by Luke Adams

7:54pm: Bryant has officially re-signed with the Heat, the team confirmed in a press release.

12:49pm: The Heat and Thomas Bryant have reached an agreement on a new one-year contract for the free agent center, league sources tell Marc Stein (Twitter link). The deal will be worth the veteran’s minimum, tweets Anthony Chiang of The Miami Herald.

Bryant, who initially signed a two-year, minimum-salary contract with the Heat last summer, averaged 5.7 points and 3.7 rebounds in just 11.6 minutes per game across 38 appearances.

Miami had envisioned him as the backup at the five behind Bam Adebayo, but the fit wasn’t quite as smooth as either side has hoped, and the 26-year-old was in and out of the rotation for much of the season.

Because the second year of that initial contract was a player option (worth $2.85MM), Bryant was able to opt out and talk to other potential suitors on the open market. However, it seems as if he wasn’t offered any opportunities he liked more than one to remain in Miami for another season.

Bryant will earn slightly less ($2.8MM) on his new contract than he would have on his option, while the Heat’s charge for cap and tax purposes will be just $2.09MM. He’ll join a group of centers that features Kevin Love (who also agreed to a new deal with the Heat) and rookie Kel’el Ware.

Orlando Robinson also remains on the roster on a non-guaranteed contract, but the new deals with Bryant and Love, along with the selection of Ware, make it less likely that he’ll be back, tweets Ira Winderman of The South Florida Sun Sentinel.

FA/Trade Rumors: Sixers, Heat, DeRozan, Warriors, Markkanen, Lakers, More

July 3rd, 2024 at 2:14pm CST by Luke Adams

Signs are pointing toward Paul Reed being traded or waived rather than returning to the Sixers, according to Keith Pompey of The Philadelphia Inquirer, who notes that waiving Reed or using his pseudo-expiring $7.7MM contract as a trade chip would allow the team to maximize its cap room. Pompey adds that Philadelphia has had discussions with free agent forward Haywood Highsmith, while Barry Jackson of The Miami Herald tweets that the 76ers have also “poked around” on Caleb Martin.

Although the Heat remain in the mix for both of their free agents and could technically make Martin and Highsmith big offers, they’ve told people they don’t intend to surpass the second tax apron due to the roster-building restrictions that second-apron teams face, says Jackson (Twitter link). That limits Miami’s ability to make a competitive offer to either player.

Despite the Heat’s financial restrictions, Jovan Buha of The Athletic has heard from league sources that Miami is viewed as the “slight” favorite to land DeMar DeRozan. The team doesn’t have the spending flexibility to make it work without additional moves, but DeRozan likes the idea of playing for the Heat and the two sides have remained in touch, tweets Jackson.

Here are a few more rumors and notes related to the trade and free agent markets:

The Warriors and Spurs are considered the most serious suitors for Jazz forward Lauri Markkanen, according to Chris Haynes of Bleacher Report (video link), who says Golden State has been the most aggressive team in its pursuit of Markkanen.
Appearing on SportsCenter on ESPN (Twitter video link), Adrian Wojnarowski said the Lakers aren’t interested in using their tradable draft picks just to move off contracts, but would be open to including draft assets for a quality player. However, they’re not pursuing a deal for a high-salary impact player, since they’re skeptical the three-star model is feasible under the new CBA, Wojnarowski explains.
While a report on Monday suggested the Nets are open to reuniting with Lakers guard D’Angelo Russell, sources tell Brian Lewis of The New York Post that’s not expected to happen.
In an appearance on Sactown Sports 1140 (YouTube link), Sam Amick of The Athletic said that he’s skeptical the Kings will land Markkanen or Pelicans forward Brandon Ingram, noting that Sacramento still appears to be taking a hard line in its desire to keep Keegan Murray off the table in trade talks. “I don’t know how long the list of guys is that they would give Keegan up for, but it’s not anybody currently available on the market,” Amick said.

FA Rumors: DeRozan, Kings, Hield, Warriors, Martin, Heat, Hezonja

July 3rd, 2024 at 9:19am CST by Luke Adams

Assuming DeMar DeRozan doesn’t sign with a cap-room team, it will almost certainly require a sign-and-trade to land him, per Chris Haynes of Bleacher Report (video link). As Haynes explains, DeRozan has no interest in settling for a mid-level offer.

“For the teams that might be calling or gauging interest in DeMar taking a full mid-level exception, which is around $13MM, I’m told that is not even being considered right now,” Haynes said on Tuesday.

The Bulls won’t bring back DeRozan, but they’re open to working with him on a sign-and-trade to help him get where he wants, Haynes confirms. Still, negotiating that sort of deal will be a challenge, given that some of the forward’s suitors (like Miami) aren’t in a great financial position to make a sign-and-trade. I’d also expect Chicago will be reluctant to take back much salary, since the team projects to be about $13MM below the luxury tax line, though that number is fluid and would move up or down if other moves are made.

Appearing on ESPN’s NBA Today on Tuesday (Twitter video link), Marc J. Spears of Andscape identified the Kings as one “dark horse” suitor to watch for DeRozan. Sacramento has reportedly made Harrison Barnes, Kevin Huerter, and draft capital available in trade talks (in general, not for DeRozan specifically) as the team looks to upgrade its roster around Domantas Sabonis and De’Aaron Fox. Previous reporting has indicated that the Bulls like Huerter.

Here are a few more free agency updates from around the NBA:

Buddy Hield doesn’t have an agreement in place with the Warriors yet, but the two sides are “tracking toward” a deal, according to Jake Fischer of Yahoo Sports (Twitter links), who says that a sign-and-trade would likely see the Sixers receive second-round draft capital in return. If Golden State doesn’t send out additional salary, the club would have to absorb both Hield and Kyle Anderson into a trade exception created by sending Klay Thompson to Dallas, or complete all three of those moves as one multi-team mega-deal in order to maximize Thompson’s outgoing salary as a matching piece (John Hollinger of The Athletic briefly explored this more complex possibility on Tuesday night).
While Caleb Martin‘s return to the Heat is still considered unlikely, it shouldn’t be entirely ruled out, according to Barry Jackson and Anthony Chiang, who suggest in a pair of stories for The Miami Herald that the team’s interest in re-signing Martin hasn’t waned as long as the price is right. Jackson and Chiang also say that Miami remains in the mix to sign Haywood Highsmith, though his return is “far from guaranteed.”
The Heat had initial discussions with DeMar DeRozan on Tuesday and expect to follow up on Wednesday, but there have been no indications that the club will “move mountains” (ie. shed significant salary) in order to land him, Jackson tweets.
Although Real Madrid has officially announced its new five-year contract with Mario Hezonja, the veteran forward has an NBA-opt out until July 20 with a modest buyout figure and has received interest from “numerous” NBA teams, according to Donatas Urbonas of BasketNews.com. The 29-year-old, who was the fifth overall pick in the 2015 draft, appeared in 330 NBA regular season games but has been out of the league since 2020.

Latest On DeMar DeRozan

July 2nd, 2024 at 1:19pm CST by Luke Adams

There’s mutual interest between the Heat and free agent forward DeMar DeRozan, a pair of sources with knowledge of the situation tell Barry Jackson and Anthony Chiang of The Miami Herald.

DeRozan is one of the top players left on the marketplace, having come in at No. 6 in our list of top 50 free agents. He led the NBA in total minutes played in 2023/24, averaging 24.0 points, 5.3 assists, and 4.3 rebounds per game with a shooting line of .480/.333/.853.

Despite the mutual interest, there’s not a clear path for Miami to offer DeRozan the sort of contract he’s seeking. As Jackson and Chiang write, the Heat are currently a first-apron team, so the best they could do would be the $5.2MM taxpayer mid-level exception. A sign-and-trade deal isn’t an impossibility, but it would require them to shed salary, since a team that acquires a player via sign-and-trade becomes hard-capped at the first apron, so it could get complicated.

DeRozan isn’t expected to return to the Bulls, but Jackson and Chiang hear that “several” teams remain in play for the six-time All-Star. One of those clubs is the Lakers, as we previously relayed. ESPN’s Adrian Wojnarowski confirmed L.A.’s interest during a SportsCenter appearance on Tuesday (YouTube link), but reiterated that it won’t be easy for the Lakers and other over-the-cap suitors to negotiate a sign-and-trade deal.

“I think there’s interest in DeMar DeRozan, but the kind of contract that he might want just is not going to be available,” Wojnarowski said. “It’s not left out there in the marketplace. The Bulls are more than willing to work on a sign-and-trade agreement to get him the years and money that he might want, but with the new salary cap rules, those are much more difficult for teams to do.

“… In DeMar DeRozan’s case, and it may not be as appealing to him, but it may look like a one-year deal somewhere, let the market reset next year. Because if you do a sign-and-trade, it’s got to be at least three years and now you’re locked into a three-year deal at a number you may not like.”

DeRozan’s free agency this summer is somewhat reminiscent of his 2021 free agency. When he hit the market three years ago, teams like the Lakers and Clippers were viewed as suitors but didn’t have the financial means to make him a competitive offer. It briefly looked like he might accept a discount to return to his hometown, but he ultimately landed with the Bulls on a three-year, $82MM deal via sign-and-trade.

It seems less likely this time around that a suitor will emerge to make DeRozan a huge three-year offer. Still, it’s worth noting that settling for a one-year contract in the hopes of securing a larger payday next summer – as Woj suggests – would be risky move for a player who will turn 35 next month.

Heat Sign Second-Rounder Pelle Larsson

July 2nd, 2024 at 10:15am CST by Luke Adams

The Heat have officially signed second-round pick Pelle Larsson to his first NBA contract, the team announced today in a press release.

Larsson was selected with the 44th pick in this year’s draft. The Rockets technically made the selection on Miami’s behalf, then sent the rookie’s rights to the Heat in a three-team trade that also involved the Hawks.

Larsson played three years of college ball at Arizona after spending his freshman season at Utah. In 2023/24, the 6’5″ wing averaged 12.8 points, 4.1 rebounds, and 3.7 assists in 30.1 minutes per game across 36 starts for the Wildcats, with a strong .519/.426/.750 shooting line.

Terms of Larsson’s deal weren’t disclosed by the Heat, but Anthony Chiang of The Miami Herald (Twitter links) hears that the team used the second-round pick exception to give him a three-year contract that starts at the rookie minimum (approximately $1.16MM). That means he’ll occupy a spot on Miami’s 15-man roster and the club will hold an option on him for the 2026/27 season.

The deal will be fully guaranteed in 2024/25, with a significant partial guarantee in year two, tweets Michael Scotto of HoopsHype.

The Heat have been busy on the transaction wire in the last 24 hours. Besides finalizing Larsson’s contract, they also signed a trio of players to two-way deals and completed Kel’el Ware‘s rookie scale contract.

Free Agency Rumors: Theis, Magic, Heat, Raptors, Rockets

July 2nd, 2024 at 9:19am CST by Luke Adams

Veteran center Daniel Theis has received interest in free agency from several suitors, including the Grizzlies, Pelicans, and Bucks, reports Kelly Iko of The Athletic (Twitter link).

Theis won the 2023 FIBA World Cup with Germany last year, then joined the Clippers in the fall after negotiating a buyout with the Pacers. He served as the backup center in Los Angeles while Mason Plumlee missed time due to an injury and averaged 6.3 points, 4.1 rebounds, and 0.9 blocks in 17.1 minutes per game across 59 outings.

A second-apron team, Milwaukee is limited to offering minimum-salary contracts to outside free agents, while Memphis and New Orleans have financial constraints of their own to consider, so Theis is unlikely to secure a big payday from any of those suitors. Still, they could certainly offer him a path to playing time.

The Grizzlies traded away Steven Adams and Xavier Tillman last season, while New Orleans lost Jonas Valanciunas and Larry Nance Jr. this summer. Milwaukee has Brook Lopez manning the middle, but his name came up in trade rumors last month.

Here are a few more free agency notes from around the NBA:

Although the Magic still have a chunk of cap room left over, they don’t appear to be aggressively pursuing outside free agents using that room. Jason Beede of The Orlando Sentinel (subscription required) hears that there continues to be mutual interest in new deals for free agents Moritz Wagner and Joe Ingles — if both players return, Orlando would have 15 players on standard contracts. A report on Monday suggested the team is also exploring using some cap room to renegotiate and extend Jonathan Isaac‘s contract.
Caleb Martin doesn’t have a deal in place with a new team yet, but Ira Winderman of The South Florida Sun Sentinel (Twitter link) still views him as “all but gone” from the Heat. Re-signing Haywood Highsmith remains a possibility for Miami, per Winderman, who says the team may also sign another veteran free agent for the minimum. Winderman names Dennis Smith Jr. as a possible Heat target.
Free agent wing Gary Trent Jr. appears likely to leave the Raptors, according to Eric Koreen of The Athletic. As Koreen details, Toronto’s agreement with Garrett Temple means there are already 15 players projected to be on guaranteed contracts if second-round picks Jonathan Mogbo and Jamal Shead are signed using the second-round exception, as expected. In other words, the team’s free agent business might be just about done.
Kelly Iko of The Athletic hears that Trent had some interest in reuniting with former teammate Fred VanVleet in Houston, but the Rockets are another team who likely won’t do much more free agent shopping. Following the additions of Reed Sheppard and AJ Griffin, along with a new deal with Aaron Holiday, Houston projects to have 15 players under contract. While the Rockets would certainly still be interested in acquiring a young star, the two players they’ve been monitoring most closely, per Iko – Donovan Mitchell and Devin Booker – aren’t available, and the asking price for Jazz forward Lauri Markkanen was considered too high.

Heat Sign Kel’el Ware To Rookie Scale Contract

July 1st, 2024 at 11:13pm CST by Luke Adams

The Heat have officially signed first-round pick Kel’el Ware to his rookie scale contract, the team announced today in a press release. Ware becomes the first player selected in the 2024 draft to formally sign his first NBA contract.

Considered one of the top centers in this year’s rookie class, Ware transferred to Indiana a year ago after spending his freshman year at Oregon. He enjoyed a breakout year for the Hoosiers, averaging 15.9 points, 9.9 rebounds, and 1.9 blocks in 32.2 minutes per game (30 contests), earning All-Big Ten and Big Ten All-Defense honors.

As the No. 15 pick in this year’s draft, Ware will earn a first-year salary of approximately $4.23MM. His four-year deal with Miami, which includes team options on the third and fourth seasons, will be worth about $20.47MM.

While teams can’t complete trades or certain signings until July 6, they’re allowed to sign first- or second-round picks to contracts during the moratorium period, so the Heat didn’t have to wait until Saturday to have Ware put pen to paper.