Undrafted rookie shooting guard Gabe Madsen has agreed to sign an Exhibit 10 contract with the Heat, reports Jon Chepkevich of DraftExpress (Twitter link).
Madsen spent the past four years playing for the University of Utah. In his final college season in 2024/25, he averaged 15.2 points, 2.6 rebounds, and 2.5 assists in 29.7 minutes per game across 33 outings (all starts), with a .371/.322/.854 shooting line.
Those subpar shooting numbers were uncharacteristic for Madsen, who had made 38.2% of his career three-point tries prior to last season. He showed off his long-range ability this month while playing for the Warriors at the California Classic and Las Vegas Summer Leagues, averaging 9.2 PPG with a .519 3PT% in just 14.0 MPG across six appearances.
As Chekpevich notes, Madsen’s best performance came in Vegas vs. Utah, when he racked up 22 points and made six three-pointers in less than 17 minutes of action.
An Exhibit 10 contract is a one-year, minimum-salary deal that is fully non-guaranteed and doesn’t count against the salary cap unless the player makes his team’s regular season roster. They can be converted into two-way deals prior to the start of the regular season. They also make a player eligible to earn a bonus worth up to $85,300 if he’s waived and then spends at least 60 days with his team’s G League affiliate.