Norman Powell will likely open the 2025/26 season on an expiring contract, but the Heat are open to the idea of extending the veteran wing if the start of the season goes well, a source tells Barry Jackson of The Miami Herald.
The Heat acquired Powell in July from the Clippers in a three-team trade that sent Kyle Anderson and Kevin Love from Miami to Utah. While the move helped push the Heat into luxury tax territory (they later got out of the tax by trading Haywood Highsmith), the outgoing package was a modest price to pay for a talented offensive player coming off arguably the best season of his career.
In 60 games (all starts) for the Clippers in 2024/25, Powell averaged 21.8 points, 3.2 rebounds, and 2.1 assists in 32.6 minutes per night, with a shooting line of .484/.418/.804. He set career highs in points and minutes per contest, as well as three-pointers made (3.0 per game; 179 in total).
Powell, 32, will make about $20.5MM this season in the final season of the five-year, $90MM contract he signed with Portland as a free agent during the summer of 2021. He’s eligible to sign an extension at any point between now and June 30 — if he doesn’t complete a new deal by that time, he’ll reach unrestricted free agency next offseason.
The Heat’s salary cap situation going forward isn’t too bad, with nearly $35MM for Terry Rozier and Simone Fontecchio set to come off the books at the end of the 2025/26 season. However, Miami will also need to figure out whether Tyler Herro (UFA in 2027) and Andrew Wiggins (player option for 2026/27) are part of the long-term plans — and if so, at what price.
Given that Powell has yet to suit up for the Heat, it makes sense that the front office would prefer to wait until after the season begins to assess his fit and perhaps to get a clearer sense of what the team’s future cap situation will look like (Herro will be able to sign an extension between October 1 and the start of the regular season).