The Miami Heat have already changed the shape of their offseason with the Giannis Antetokounmpo trade, but free agency still brings more business for a roster that won’t have a lot of cash to throw around.
Miami does have some tools to work with, though. The team has the nontaxpayer mid-level exception, which is worth around $12 million, and it also sits with $20.5 million in first apron space.
Free agency begins at 6 p.m. ET on Tuesday, and the Heat have already started making moves.
The latest addition is Tim Hardaway Jr., who spent last season with the Denver Nuggets. Miami is signing him to a one-year, $6.5 million contract, according to Shams Charania of ESPN. Hardaway gives the Heat another source of perimeter shooting.
Miami has also extended Andrew Wiggins on a three-year, $64 million deal. The agreement includes a player option in the third year, per Shams Charania.
Another return is already in the books as well. The Heat retained Simone Fontecchio on a one-year deal, Charania reported.
There are still some names on the board for Miami, and Norman Powell is the biggest one. Spotrac lists the Heat with five free agents overall, and Powell appears headed out. The full group includes Keshad Johnson, Jahmir Young, Trevor Keels, and Vladislav Goldi, who is in restricted free agency.
The biggest transaction of Miami’s offseason remains the Giannis deal, and it cannot be finalized until July 6. The Heat receive Giannis Antetokounmpo and Bobby Portis in the trade.
Milwaukee gets Tyler Herro, Kel'el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, Nate Ament, two first-round picks, one pick swap, and a 2033 second-round pick.
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Heat Could Revisit A Familiar Target At The Perfect Time
Jonathan Kumingas name is back in the mix at a time when the Heat are looking for ways to keep reshaping a roster that already changed dramatically with the recent addition of Giannis Antetokounmpo. Miamis financial constraints make every possible move feel more complicated, but they also keep the front office in the market for players who can still fit around the edges of a contending core.
Kuminga has already been a notable part of a midseason shuffle, landing in Atlanta from Golden State during the 2023-24 season after a strong final full year with the Warriors. His availability gives Miami another intriguing option to monitor, and if the Heat are serious about revisiting a familiar target, the next step will be seeing how far they can push in a market that has already started to tighten. [Read more 🡒]
Norman Powell Is Suddenly Drawing A Real Threat In Free Agency
Norman Powells market is starting to look more interesting than a routine free-agency check-in, especially for a Heat team that has relied on his scoring punch. Chicago has emerged as a team with a real need in the backcourt, and the Bulls search for a guard who can create offense alongside Josh Giddey has put Powell firmly in the conversation as the roster reshapes around recent draft picks and other changes.
For Miami, the wrinkle is less about whether Powell can still produce and more about how a short-term deal elsewhere might change the board. The Bulls can offer a prominent role, but there are still questions about fit, timeline and whether Powell would want to slide into a different kind of job after thriving as a high-usage scorer in Miami. For now, it remains a developing situation with no official agreement in place. [Read more 🡒]