Did Tyler Herro manage to get a maximum contract extension?
Tyler Herro is set to run away with the Sixth Man of the Year — it’ll be close to a unanimous vote — and he’ll be a vital part of what the Heat hope will be a deep playoff run this year.
Then this summer, Herro offered a contract extension for his rookie contract.
Did his rebounding season – 20.7 points per game, shooting 38.4% on 3, in addition to becoming a key secondary playmaker – earn him a maximum contract extension? At least a few people Bleacher Report’s Jake Fischer spoke to think so.
Some rival executives and agents interviewed by B/R believe Herro’s next deal could approach his five-year maximum of $184 million. Others pointed more to Jaylen Brown’s recent structure of a four-year, $106 million contract. For context, the recent four-year, $85 million contracts of Fred VanVleet and Lonzo Ball set a clear benchmark in the market, where this summer combined guards such as Jalen Brunson and Collin Sexton would seek salaries north of 20. millions of dollars.
Herro is going to win more than Ball and VanVleet. It’s also hard to imagine him getting the most (Ja Morant will get that extension this summer, and likely Zion Williamson, though that may have injury reservations), though that’s likely what his agent is throwing on the table. to open negotiations.
Jaylen Brown’s figure, just over $25 million per season on average, seems about right. Maybe something like five years, $130 million, or in that ballpark, guaranteed money. It’s likely to be one of those contracts that when first announced will seem much higher than that (perhaps close to the max), but that’s because all the incentives will be counted. The actual number will be lower.
This Herro extension will come into effect for the 2023-24 season.
Things are going to get expensive in Miami going forward. They already have $133 million on the books for next season with 11 players, which is over the cap ($121 million is the expected number) and fast approaching the tax line ($147 million). For 2023-24, the Heat have Jimmy Butler at around $45 million (the extension he signed last summer), Bam Adebayo ($32.6 million), Kyle Lowry ($29.7 million dollars) and Duncan Robinson ($18.2 million under contract), plus extension Herro — and that’s just five players. Someone is likely to be traded (Robinson is the most likely candidate).
No team is as creative with the cap as the Heat, and they pay for a team that leads the East and is a contender, but staying on top like that won’t be easy.