Heat exercise 2021-22 team option on Tyler Herro

The Heat have officially exercised their 2021-22 team option on Tyler Herro, per Keith Smith of Yahoo Sports.

The move locks in the third-year option on Herro’s rookie contract, ensuring that he’ll earn $4M a year from now. He’s set to earn $3.82M in 2020-21. Miami will have to make a decision on his $5.72M fourth-year option for 2022-23 next fall.

Rookie-scale team option decisions for 2021-22 are due by December 29. Not every former first-round pick will have his third- or fourth-year option exercised this month, but in cases like Herro’s, picking up that option is a mere formality.

Herro, who will turn 21 in January, earned a spot on the NBA’s All-Rookie Second Team last season, averaging 13.5 points on .428/.389/.870 shooting in 55 games (27.4 minutes). He elevated his game to a new level in the postseason, recording 16.0 points, 5.1 rebounds, and 3.7 assists in 33.6 minutes per contest as the Heat came within two wins of a title.