Miami Heat enter the 2025-26 season in a developmental gap year focused on shaping long-term building blocks. Tyler Herro sits at the center of roster decisions and remains under contract for two more seasons. Herro is eligible for a three-year, $149 million extension if signed before October 20, or a four-year, $206 million deal if extended after the season. Herro says he wants to remain in Miami and was an All-Star in 2025, but currently earns $31 million for 2025-26 and is not yet equivalent to $50 million-plus players. The franchise must either commit to Herro now or prepare to trade him at the deadline if he fails to progress. The Heat must avoid repeating the disruptive exit experienced with Jimmy Butler.
ESPN noted back in June that Herro is eligible for a three-year, $149 million extension if he signs with the Heat prior to October 20. If the two sides wait until after the season, Herro is then eligible for a four-year, $206 million extension. Herro himself has said that he wants to stay in Miami, and if he continues to develop, then one could convince oneself he is worth the money.
The problem for Miami, and what could make this situation get really complicated really fast, is that Herro simply isn't worth $50 million or more a year in his current state. Yes, he was an All-Star in 2025, and at the $31 million he will make in 2025-26, he is a perfectly fine value. But compared to the guys making $50 million or more, Herro still has a long way to go to prove he is that guy.
Either way, the Heat have to be willing to make a decisive move one way or the other and can't have a repeat of the Butler drama. If the Heat are convinced that Herro is going to develop and want to make him the long-term centerpiece of the franchise, then sign him before October 20 and be done with it. If the Heat are going to punt on giving the extension, and Herro stays the same player in 2025-26, they also need to be willing to make a trade at the deadline and get assets in return before Herro turns into damaged goods.
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