“Early indications” are that a potential Tyler Herro extension with the Heat this offseason would land in the range of $25MM per year, according to Jake Fischer of Bleacher Report.
Herro will become eligible for a rookie scale extension when the NBA’s 2022/23 league year begins later this week. He boosted his stock during the regular season by averaging 20.7 points per game and making a career-high 39.9% of his three-point attempts, but a mediocre playoff run (12.9 PPG with a .229 3PT%) clouded his value entering the summer.
The Heat and Herro are under no obligation to reach an extension this offseason, but doing so would keep him off the restricted free agent market in 2023. Typically, rookie scale extensions worth less than the maximum aren’t agreed to at or near the start of free agency, so the team and the 22-year-old may take a few weeks or months to negotiate a new deal. The extension deadline is the day before the ’22/23 season begins.
Here’s more on the Heat:
- If the Heat can’t retain P.J. Tucker in free agency, they’ll consider attempting to trade for Suns forward Jae Crowder or potentially signing free agent forward T.J. Warren, a source tells Ira Winderman of The South Florida Sun Sentinel. Winderman stresses that those would be fallback options for the team, which is willing to offer Tucker three fully guaranteed years. Crowder played in Miami briefly in 2019/20 before leaving for Phoenix in free agency.
- In a separate story for The Sun Sentinel, Winderman explores how the Heat’s reluctance to impose a hard cap on themselves this offseason may impact their roster moves. It would mean the bi-annual exception can’t be used on a player like Caleb Martin and would mean the Heat’s best offer for P.J. Tucker would start at $8.4MM (via the Non-Bird exception) rather than $10.35MM (the full mid-level).
- In case you missed it, a report earlier today suggested that Victor Oladipo is considered likely to leave the Heat in free agency.