Tyler Herro will be eligible to sign a three-year extension this October worth up to $149.7 million. Prospective negotiations between the Miami Heat and their All-Star remain a point of contention among fans and armchair GMs. Really, though, the decision has already been made for the Heat.
They need to wait, and revisit Herro’s future and contract situation next summer.
This has little to do with the 25-year-old’s value to the team. He is, until further notice, their offensive engine, not only their best playmaker, but someone whose off-ball acumen can unlock doors for everyone else. Instead, this has everything to do with the Heat’s prioritization of flexibility—and how a handful of recent extensions prove a new deal for Herro won’t fit that vision.
Don’t expect Tyler Herro to accept much less than his max
Extending Herro becomes a borderline no-brainer if he’s willing to accept a salary in line with the $31 million and $33 million, respectively, he’s making this season and next year. Let’s be real, though: That is not going to happen.
Mikal Bridges just inked a $150 million extension that is worth slightly less than the max allowed, but that still goes out the full four years, and pays him an average annual salary of $37.5 million. Herro is younger than him, with a more desirable offensive skill set.
De’Aaron Fox, meanwhile, put pen to paper on a four-year max extension worth an estimated $222.4 million. That’s an average annual value of $55.6 million. Herro isn’t eligible for the same type of deal, and Fox has the edge as a defender, driver, foul-drawer, and maybe passer. But the difference between himself and Herro isn’t so stark that the latter and his camp won’t use the agreement as a benchmark in negotiations.
The Heat are better off waiting on a Herro extension
Let’s say Herro is willing to accept an extension that pays him around $40 million per year. That is both reasonable, and a contract Miami should avoid—for now.
The Heat are clearly emphasizing financial malleability in the summers to come. If Andrew Wiggins declines his 2026-27 player option, they could have $30-plus million in cap space next offseason. If he sticks around, Miami as of now would have him, Herro, and Davion Mitchell all coming off the books in the summer of 2027. Bam Adebayo would be the only significant commitment on the balance sheet.
Free agency isn’t what it used to be, but if there’s any team that can fly in the face of convention, it’s the Heat. Plus, cap space can be used for trades, in addition to free-agent signings.
So much of that flexibility goes out the window if Miami extends Herro’s current deal. What’s more, because he can’t sign an agreement until October, he wouldn’t become trade-eligible before next offseason. That isn’t the end of the world, but it’s a crucial detail for a Heat franchise still obsessed with acquiring Giannis Antetokounmpo. Sure, he may not become available this summer, or during the season. Even then, Herro may have more appeal in prospective talks as a young star on an expiring contract, rather than someone already Sharpie’d in for a certain amount of money.
Miami can revisit this stance if Herro is willing to take something, like, three years and $100 million in an extension. Failing that, there is no decision to make. Extending Herro this fall doesn’t currently fit the Heat’s long-term plan.
