Heat’s Tyler Herro ‘doubtful’ of reaching terms on contract extension as team keeps 2027 options open

Miami has talent on its roster – Bam Adebayo is widely respected as one of the best two-way centers in the league, Tyler Herro was an All-Star last season and the addition of Norman Powell brings more points – but it doesn’t have a top-10, championship-building cornerstone type of player on the roster.

This 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 left on his contract and would like to discuss an extension, but that hasn’t gone anywhere, Windhorst reported.

“Tyler Herro is coming off an All-Star season and is definitely interested in extending with the Heat, but there have been no substantive talks on his spot and a deal is doubtful, sources say.”

Miami wants to hold onto the cap space until 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 salaries locked on the Heat’s books in the summer of 2027 are Bam Adebayo at $53.8 million and Nikola Jovic at $14.9 million).

This cap space is more about flexibility, max players don’t jump teams via free agency very often under the current CBA. Also, look at the names on that list. Jokic said he wants to be a Nugget forever, and they simply rearranged the roster to better suit him. Whatever happens with Antetokounmpo it will be decided next summer when the Bucks offer him a max contract extension and he signs it or Milwaukee accepts trade offers. New York will likely expand the Towns next summer. The rest of the list probably doesn’t make it 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. Many of those elite players would fit well next to Herro, but it appears Miami wants to keep its options open.