Tyler Herro has been one of the Miami Heat‘s best players in recent years. Since winning the Sixth Man of the Year award in 2022, he has slowly developed into an All-Star talent.
Given his importance to the Heat’s rotation, Herro is likely looking at a pay rise on his next deal. He signed his current $120 million contract in 2023 and will enter the final year of that deal next season.
According to ESPN’s Bobby Marks, Miami could look to pay Herro in the region of $150 million on his next contract.
“Herro not only earned his first All-Star appearance but consistently put up All-NBA-caliber numbers,” Marks wrote. “For a fourth straight season, Herro averaged at least 20 points, and finished 2024-25 with five games of at least 35 points, a career-best 47.2% shooting from the field and 5.5 assists per game…Guaranteed money once again wins out and Herro signs a three-year, $149.7 million extension.”
Since Jimmy Butler forced his way out of the Heat at the Feb. 6 trade deadline, Herro has been the primary star in Miami. And while he isn’t suited to such a prominent role within the rotation, he has performed admirably. Herro is a key part of Miami’s roster and has earned the opportunity to sign a bigger contract moving forward.
Heat Would be Wise to Embrace a Down Year
In his June 2 offseason preview of the Heat, Spotrac’s cap expert, Keith Smith, broke down the value in a potential down year for Miami.
“They could reasonably hit the summer of 2026 with $30 or $40 million in cap space, with the potential for even more,” Smith explained. “Obviously, if the Heat swing a star trade this offseason, that changes everything. Either way, they’re set up with pretty good flexibility no matter which direction they go.”
Smith continued.
“That means this might be another down year. Given Miami owns its own first-round pick free and clear in the 2026 draft, it might not be a bad time to have a gap year. Then, the Heat can get back to work with cap space and a good pick in the summer of 2026.”
Miami could add some stop-gap talents to the rotation, allowing the team to remain slightly competitive before retooling next year. Of course, convincing Pat Riley to embrace a down year could be far more difficult than it sounds.
Heat Unlikely to Land Giannis Antetokounmpo
It’s for that reason that Bill Simmons doesn’t view the Heat as a genuine contender to acquire a star player this summer.
“I wish Miami had one more guy because there is a ‘Bam and all your picks for Giannis’ framework that I think would work but it just puts Giannis in the same situation he is in now,” Simmons said in a recent episode of his “The Bill Simmons Show” podcast.
Given Miami’s current situation, focusing on securing Herro’s long-term future and working toward a competitive summer in 2026 should be the target. Otherwise, Riley will risk the team’s ability to re-tool on the fly moving forward, and then he will have no choice but to finally embrace a rebuild.
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