Oct 26, 2022; Portland, Oregon, USA; Miami Heat center Bam Adebayo (13) drives to the basket past Portland Trail Blazers point guard Damian Lillard (0) during the second half at Moda Center. Mandatory Credit: Soobum Im-Imagn Images Soobum Im-Imagn Images

Longtime Miami Heat Target Makes His Free Agent Decision

Originally posted on Miami Heat on SI | By Alex Toledo | Last updated Jul 17, 2025 6:12 PM ET

Once again, the Miami Heat find themselves losing out on Damian Lillard . After being waived by the Milwaukee Bucks, Lillard decided he will be signing with the team he spent 11 of his 13 NBA seasons with, the Portland Trail Blazers.

BREAKING: Nine-time NBA All-Star Damian Lillard is finalizing a three-year, $42 million contract to return to the Portland Trail Blazers, sources tell ESPN. Deal is expected to include a player option in 2027-28 and a no-trade clause. A storybook reunion home for the 35-year-old. pic.twitter.com/mm1uUtMgO6
— Shams Charania (@ShamsCharania) July 17, 2025

At about $14 million per season, the Heat did technically have a pathway towards matching that amount with their non-taxpayer mid-level exception available to them, as well as the open roster spot generated from the Norman Powell trade. However, with the Heat slightly over the luxury tax threshold already, signing Lillard to that amount would have put them over the first apron and just below the second.

It is not known yet how much the Heat did or didn't offer Lillard, but they were reportedly interested in pursuing the star guard they missed out in the summer of 2023.

Lillard, 35, averaged 24.9 points, 7.1 assists, 4.7 rebounds and 1.7 steals in 58 games for the Bucks last season before missing the final 14 games due to blood clotting issues. He eventually returned in Game 2 of their first round Playoff series, but tore his achilles tendon in Game 4.

The Bucks, feeling the pressure of potentially losing their franchise player Giannis Antetokounmpo after a five-game first round series, lacked the necessary assets to make upgrades. What they chose to do instead was waive and stretch Damian Lillard's contract in order to free up the cap space to sign Myles Turner.

Lillard now will have a 2025-26 set salary of $70M between his Portland and Milwaukee deals, and a salary of $141M over the next two years ahead of an opt-out in 2027. Blazers officials and Aaron Goodwin of Goodwin Sports Management are finalizing terms this week. https://t.co/m8JqsjzXVE
— Shams Charania (@ShamsCharania) July 17, 2025