The Heat want to retain Davion Mitchell and will likely extend a qualifying offer to the guard, Barry Jackson of the Miami Herald reports.

That would make Mitchell a restricted free agent, allowing them to match an offer sheet. However, a sizable multi-year offer could price the cap-strapped Heat out of the market.

Mitchell’s qualifying offer would be $8.74MM if he meets the starter criteria and $7.98MM if he doesn’t.

Mitchell has excelled for the Heat after being acquired from the Raptors in a mid-season deal. He’ll have options if the Heat give him a QO. He could choose to accept it, sign an offer sheet from another club or work out a multi-year deal with Miami.

Playing mainly the point for the Heat, Mitchell is averaging 10.3 points and 5.2 assists and shooting 49.5 percent from the field and 45.3 percent on 3-point tries in 27 games (14 starts) for Miami. Also known for his defensive prowess, Mitchell spent his first three seasons as a rotation player with Sacramento.