"Much of the equivocation over Herro's future stems from the Heat's apparent interest in preserving cap space. They were on track for more than $90 million worth of spending power over the 2027 offseason, when Herro's current deal comes off the books. Emphasis on were. Jovic's extension adds more than $15 million to Miami's ledger in 2027. A lot can happen between now and then."
"Except, this presumes Miami doesn't add any other money beyond the 2026-27 campaign. That doesn't require just leaving Herro without a new deal. It basically mandates they get rid of Norman Powell (expiring this season), and Andrew Wiggins (2026-27 player option). This says nothing of potentially wanting to keep Davion Mitchell (2027 free agent), or extending Jaime Jaquez Jr. (eligible next summer). Maybe the Heat are willing to roll the dice and lean into short-term contracts and placeholder personnel. Jovic's contract suggests they're not."
The Nikola Jovic extension demonstrates Miami's significant valuation of its 22-year-old stretch big and alters projected cap flexibility. Tyler Herro is eligible for a three-year extension worth up to $150 million, and he recently indicated he expects to sign one despite prevailing expectations to wait. Jovic's deal adds over $15 million against the 2027 ledger, reducing previously forecasted spending power and complicating plans to preserve cap room. Maintaining large 2027 flexibility would require shedding contracts like Norman Powell's or Andrew Wiggins' option and foregoing other extensions or retentions. Jovic's contract signals a willingness to allocate long-term money rather than rely solely on short-term placeholders.
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