Heat guard Tyler Herro isn’t participating in training camp this week as he recovers from ankle surgery, but October 1 is an important date for him — he’ll become eligible to sign a veteran contract extension that could be worth a maximum of $149.7MM over three years.
Herro will have a window of about three weeks this fall to sign a new deal. If he and the team don’t have an agreement in place by Oct. 20, he won’t be eligible to sign an extension until the 2026 offseason, as he enters the final year of his current contract.
However, Herro expressed optimism on Monday about his odds of working something out with the Heat before opening night, as Anthony Chiang of The Miami Herald relays.
“I expect to get something done. But we’ll see what happens,” Herro said. “I think they’re supposed to meet on Wednesday.
“… It is important for me,” he continued. “I’ve been here six years. I feel like I’ve earned it. I’m not saying what I’ve earned, but I’ve earned something. I think I deserve it, and I want to be here ultimately. I’ve vocally said that.”
Herro, who will earn $31MM this season and $33MM in 2026/27, is coming off the best season of his NBA career. He earned his first All-Star nod and set new career highs in points (23.9) and assists (5.5) per game, along with games played (77) and field goal percentage (47.2%).
That big year doesn’t mean the Heat are prepared to reward him by offering that full $149.7MM, but Herro suggested on Monday that he won’t necessarily be pushing for that maximum extension either. The 25-year-old told reporters that it’s not “$50 million (per year) or nothing,” and added that he has “a number in my mind,” but if he and the team don’t agree to terms, he won’t be frustrated by that outcome.
“I’m not going to hinder this season on getting an extension or not. I’m not going to lose my joy,” Herro said, jokingly referencing a comment former teammate Jimmy Butler made last season. “… I’m excited to play. At the end of the day, I have two years on my contract. And if we don’t get something done, I’m not going to be a problem throughout the organization. I’m happy to be here. … I would love to get something done, like I said, but we’ll see what happens.”