The Miami Heat may be considering the nuclear option with Kyle Lowry.
Barry Jackson of the Miami Herald reported on Tuesday that the Heat are considering waiving the veteran guard Lowry if they cannot find a trade for him this offseason.
In that event, Miami would use the waive-and-stretch provision, allocating Lowry’s remaining cap hit over the next three seasons equally. That would allow the Heat to get under the luxury tax line for the 2023-24 season but could also prove burdensome in future seasons once leaguewide changes to the collective bargaining agreement kick in.
You can read Jackson’s story about the full financial implications of waiving Lowry, who is now on a $29.7M expiring contract, here.
The six-time All-Star Lowry has been a very steady veteran showrunner for Miami over the last two seasons, which netted a Finals appearance this year and a near-Finals appearance the year before. He has averaged 12.4 points and 6.4 assists per game in a Heat uniform, retaining his ability to create efficient shots and play strong defense within the team framework.
But Lowry is now 37 years old and has become less reliable health wise as he has aged. There were also previously concerns with Lowry’s conditioning (which Heat president Pat Riley once called him out for).
Ultimately, Miami did well for themselves with the Lowry trade, which only cost them Goran Dragic (who has done virtually nothing for four different teams since being dealt) and Precious Achiuwa (who looks like he will only top out as a viable bench player).
Thus, it may now be time for the Heat to move on from Lowry, either by waiving him or ideally by trading him as a part of a package for this fellow point guard.
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