The Heat are set up to face one of the more pivotal offseasons in franchise history. Miami’s 2024/25 season seemed off from the start, with president Pat Riley calling out Jimmy Butler last offseason before the latter requested out of Miami in December. The Heat ultimately acquiesced and sent Butler to the Warriors.

What followed the Butler saga were significant ups and downs. The team lost 10 games in a row before immediately winning six straight. The Heat defeated both the Bulls and the Hawks as the 10th seed in the play-in, earning a playoff appearance, before getting swept by the Cavaliers in one of the most lopsided series in league history.

As Anthony Chiang of the Miami Herald writes, Riley will have plenty to discuss during his end-of-season news conference on Friday. Several looming topics will likely be addressed, including the general state of the franchise, avoiding the repeater tax and Tyler Herro‘s upcoming extension.

While the Heat have never operated this way, it’s possible a soft reset is on the horizon with Miami owning its first-round pick next year. As for the tax, the Heat have been a luxury tax team each of the past two seasons and are in danger of triggering the repeater tax, which could dictate how they operate this year. Meanwhile, Herro is eligible for a three-year, $149.7MM extension starting Oct. 1. If an agreement isn’t reached by Oct. 20, he would be eligible for a four-year deal worth $206.9MM. Whether or not that will be addressed this year will also be worth watching.

It’s also increasingly likely that Miami goes star hunting again this offseason. While past pursuits of the likes of Kevin Durant and Damian Lillard came up empty, the Heat have appealing assets this offseason, including up to three first-rounders. Barry Jackson of the Miami Herald breaks down the Heat’s complex asset cabinet that could be increased before the draft, meaning such clarity on whether a star player would join would need to be known by that point.

The Heat also have numerous large expiring contracts and young players to make the math work for a potential trade.

This isn’t to say Miami will absolutely make a massive move this offseason. However, the first-round series against Cleveland proved that the Heat aren’t yet a contender, and it’s unclear whether they believe a full offseason with Andrew Wiggins on the roster will push them forward.