The Miami Heat stood pat at the trade deadline, and that silence is starting to echo loudly across the league. According to Zach Lowe and Bill Simmons, two of the NBA’s most plugged-in voices, Miami may have missed a rare window to make a serious push for Giannis Antetokounmpo - and the consequences could linger into the offseason.
On The Bill Simmons Podcast, Lowe didn’t mince words about what this moment could mean for the Heat’s long-term outlook. With teams like the Timberwolves and Warriors stepping out of the Giannis sweepstakes, Miami briefly looked like one of the last serious contenders left standing. But instead of making a move, they stayed on the sidelines.
“If I were a Miami fan, I’d be a little worried,” Lowe said. “The Giannis teams started falling away.
We were maybe the last real team standing.” That’s not just a casual observation - it’s a warning.
In an offseason where Miami could’ve positioned itself as a frontrunner for a generational talent, they instead chose to hold their cards. That may have made sense in the short term, but with more teams likely to re-enter the conversation this summer, the Heat’s leverage may have already peaked.
Simmons was even more direct, calling out the Heat’s approach in trade talks - an approach that’s become something of a league-wide reputation. “This is what they do,” Simmons said.
“Here’s 40 cents on the dollar for your best guy, any interest? You don’t want this?
We’re offering you Tyler Herro and Kel’el Ware, who doesn’t even play.”
That last part stings a bit - and not just because of the names involved. Ware, a young big with upside, hasn’t exactly carved out a consistent role in Miami’s rotation. Lowe echoed that sentiment, pointing out how the team’s lack of clarity around Ware’s fit - especially next to Bam Adebayo - has hurt their ability to showcase him as a real asset.
“The Ware thing - the up-and-down minutes, trying him with Bam, then not trying it, sometimes he doesn’t play the second half - that hasn’t helped,” Lowe added.
All of this is playing out while Milwaukee has opted to hold on to Antetokounmpo past the deadline, signaling that any blockbuster move involving the two-time MVP is now a summer storyline. That delay doesn’t just affect Miami - it potentially reshapes the landscape for other teams, too.
Lowe floated the Orlando Magic as a franchise that might benefit from the Giannis timeline being pushed back. He revisited a hypothetical trade involving Paolo Banchero - a concept he’s mentioned before - though he acknowledged that Orlando’s asset pool isn’t quite what it used to be.
“I’m trying to think what are the teams that feel like they’ve lost because the Giannis thing got kicked to the summer, and what are the teams that won because the Giannis thing got kicked to the summer,” Lowe said. “And I want to include Orlando on the latter list because you know that the Paolo and a bunch of stuff for Giannis is one of my favorite fake trades, but the Magic don’t have a bunch of stuff anymore and the bloom is off the rose for Paolo.”
That’s a sharp critique of where Orlando stands right now - a team with potential, but also with real questions. Lowe suggested that if things don’t stabilize soon, the Magic could be facing bigger decisions, possibly involving both the coaching staff and the roster.
So where does that leave Miami? In a holding pattern, for now.
They still have assets. They still have a culture that players respect.
And they still have time - but not as much as they once did. The door to land Giannis hasn’t slammed shut, but it’s no longer wide open either.
And in a league where timing is everything, the Heat may have let their best shot pass them by.