Heat Notes: LeBron, DeRozan, Middleton, Beal, Hardaway, Trades

The Miami Heat had one of their busier days of the offseason on Monday, with a new target hitting the open market, a former one coming off the board, paperwork going final, and Summer League tipping off in California.

Hanging over all of it is LeBron James, who remains undecided as reports continue to place Miami in the mix for the four-time MVP. The prevailing sentiment cuts the other way, though, as many around the league believe a return to Cleveland is already effectively in motion, according to Marc Stein and Jake Fischer of The Stein Line, and until James decides, much of Miami’s remaining offseason stays frozen. Sixteen years ago today, James announced he was leaving Cleveland for Miami in The Decision, the televised special where he said he was taking his talents to South Beach, and the two franchises now sit on opposite sides of the same wait. The latest from around the organization:

• One name came off Miami’s board entirely. Khris Middleton agreed to a three-year, $17.6 million deal with the Wizards via sign-and-trade as part of a six-team transaction, according to ESPN’s Shams Charania, ending the reunion with Giannis Antetokounmpo that Miami had interest in. His exit narrows the Heat’s realistic wing market to DeMar DeRozan, Bradley Beal, and Gary Trent Jr., and it shows the cost of waiting, as targets keep signing elsewhere while Miami holds for James.
• The Kings waived six-time All-Star DeMar DeRozan on Monday, making him one of the top free agents available, according to ESPN’s Shams Charania. There has been no contact yet between DeRozan’s camp and the Heat, but Miami would be among the teams of interest, with Bradley Beal and Trent among the other wing options, according to the Miami Herald’s Barry Jackson. The complication is timing, as veteran pursuits may sit on hold until James makes his decision, according to Jake Fischer.
• Beal may be the most engaged of those options. The Heat have been in contact with Beal’s representatives, according to Barry Jackson and Anthony Chiang of the Miami Herald, continuing a link between Beal and Miami that spans years. The gamble is health, as Beal declined his $5.6 million player option after a season limited to six games by hip surgery, betting he can land a bigger role on a contender.
• Andrew Wiggins’ contract extension is now official, the team announced. Pat Riley said the veteran has proven to be the quintessential small forward for this roster and called him critical to what Miami is building, according to the South Florida Sun Sentinel’s Ira Winderman. The deal caps an opt-in and extension that locks Wiggins in through the 2028-29 season.
• Tim Hardaway Jr.’s signing on part of the midlevel exception is also complete, and it comes with a family touch. Hardaway will wear his father’s retired No. 10 with the Heat after Tim Hardaway Sr. initially denied him the honor before relenting, and Riley called the younger Hardaway one of the most explosive shooters in the league and a player Miami has long coveted, according to the Miami Herald’s Anthony Chiang. The one-year deal, reported to be worth $6.5 million, actually comes in at $6.065 million, giving Miami a little more room to maneuver below its hard cap at the first apron, according to Luke Adams of Hoops Rumors. Hardaway will be formally introduced at a press conference on Wednesday at 3 p.m.
• Nikola Jović is making his own case overseas, putting up dominant performances in FIBA World Cup qualifiers. The timing matters, since the Heat have explored moving Jović to create salary flexibility, and strong international play only helps his value either way.
• Pelle Larsson became extension-eligible on Monday. The young wing has emerged as a rotation piece Miami will need on a manageable number, and a decision on his long-term deal now joins the front office’s to-do list.
• Giannis Antetokounmpo will have a new look in Miami, with the Heat preparing jerseys that indicate he is switching numbers rather than keeping his familiar No. 34.