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Miami Heat All-Star Eligible For Bank-Breaking Contract Extension

Originally posted on Miami Heat on SI | By Sean Jordan | Last updated Jun 3, 2025 12:04 PM ET

As the Miami Heat stare at another busy offseason, there's one move that stands above all else.

Heat guard Tyler Herro's breakout season has qualified him for a hefty contract extension. The 2019 first-round pick averaged career-highs in multiple categories, earning his first All-Star selection. With the disappointing play from Terry Rozier, Herro became the lead scorer for a team that fought tooth and nail to squeak into the playoffs.

ESPN salary expert Bobby Marks predicts the Miami Heat will extend the All-Star to a three-year deal worth $149.7 million prior to next season.

"Starting Oct. 1, Herro is eligible to tack on a three-year, $149.7 million extension to the two years ($31 million and $33 million) he has left on his contract," the article wrote. "If no agreement is reached before Oct. 20, Herro would then be eligible to sign a four-year, $206.9 million extension next offseason. He is supermax eligible (five years, $380 million) if he is selected All-NBA in 2025-26."

Should Herro be signed to that extension, he would become one of the highest-paid guards in the NBA. His average annual value would skyrocket from $33 million to $50 million. Herro was arguably the most integral player on the roster this season.

"Herro not only earned his first All-Star appearance but consistently put up All-NBA-caliber numbers," Marks wrote. "For a fourth straight season, Herro averaged at least 20 points, and finished 2024-25 with five games of at least 35 points, a career-best 47.2% shooting from the field and 5.5 assists per game. The stats on the court are outweighed by what has plagued Herro in the past - staying healthy."

Given that Herro's extension becomes slightly more expensive if a contract is not reached by Oct. 20, the Heat should look to secure a deal with the star when negotiations begin Oct. 1.