Heat big man Kelly Olynyk is exercising his player option for 2020/21, as expected, a league source tells Michael Scotto of HoopsHype. The move will guarantee Olynyk’s $13.2MM salary for next season and put him in line to reach unrestricted free agency in 2021.
Olynyk, 29, came off the bench for most of last season in Miami, averaging 8.2 PPG and 4.6 RPG with a solid shooting line of .462/.406/.860 in 67 games (19.4 MPG). Assuming Olynyk returns to the Heat for next season, he should once again be a regular part of the rotation, especially if center Meyers Leonard departs in free agency.
It’s also worth noting that once he opts into his contract, Olynyk will also be eligible to be traded, and his expiring contract could make a good salary-matching piece for the Heat as they explore their options this fall and perhaps during the season.
Since Olynyk was expected to opt in, the move doesn’t affect the Heat’s cap outlook. Miami still has he opportunity to open up some room, though the team is considered more likely to stay over the cap, attempting to re-sign players like Goran Dragic and Jae Crowder, and potentially using the mid-level exception.