Before trading Highsmith, the Heat were about $1.6 million over the luxury tax. They are now roughly $4 million under the threshold after shedding Highsmith’s $5.6 million salary. This trade also put the Heat $9.5 million below the first apron hard cap and creates a $5.6 million trade exception, per ESPN’s Bobby Marks.

As the Heat didn’t get a player in return for Highsmith, they are down to 13 rostered players on standard contracts, 11 of which are guaranteed. This gives Miami some wiggle room on its roster, as the Heat are two below the NBA regular-season maximum of 15 players on standard contracts.

Highsmith, who stands at 6-foot-5, spent the past four seasons under Erik Spoelstra with the Heat. He had his best year in the NBA during the 2024-25 season, during which he played 74 games, averaging 6.5 points, 3.4 rebounds and over one assist per game.

Riley, Spoelstra and the Heat will look to fill the hole left by Highsmith with a required 14th rostered player by the start of next season, as they look to bounce back from a lackluster 37-45 record last year.