Herro, who has a cap hit just above $4M this season, will earn about $5.7M on that ’22-23 option. Now that it has been picked up, the former Kentucky standout is on track to become eligible for a rookie scale extension in 2022 or restricted free agency in 2023.
The 13th overall pick in the 2019 draft, Herro had a big postseason in the Walt Disney World bubble as a rookie in 2020 and was viewed as a candidate for a breakout year in ’20-21. Although his numbers in 54 games were solid (15.1 PPG, 5.0 RPG, 3.4 APG), Herro’s three-point percentage dipped a little from his rookie year, and he didn’t take a major step forward. Still, he’s only 21 years old and remains an important part of Miami’s rotation going forward.
Herro is the first player this offseason to have a rookie scale team option for 2022-23 exercised. While decisions on standard team options are typically due right before free agency begins, teams must make their decisions on rookie scale team options a year in advance. By Oct. 31, clubs must either exercise or decline third-year options for first-round picks from 2020 and fourth-year options for 2019’s first-rounders.