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Tyler Herro is permitted sign a contract extension this offseason, however the Miami Heat come in no rush to secure the 2019 13th overall pick, in accordance with Ira Winderman of the South Florida Sun-Sentinel:
“Remember that if heat wait on an extension, this means Tyler Herro remains trade eligible at any point through the season, potentially a chip to set up play at the February NBA trading deadline. The chance is losing Tyler as a restricted free agent next summer. But that also hardly ever happens, as evidenced come early july with the Suns and Deandre Ayton. In any event, it appears it’ll be a decision that may come much nearer to the Oct. 18 extension deadline. There simply is not any urgency from the Heats perspective right now.”
HEAT can provide Herro a five-year deal worth around $188 million or they are able to sign him to a four-year contract worth significantly less than the utmost extension.
It’s no real surprise Miami is apparently hesitant to increase Herro’s contract at this stage. The franchise views him as a very important trade asset which could make it reel in a fresh superstar to South Beach.
The 22-year-old has been heavily contained in trade rumors come early july, especially in packages for Kevin Durant or Donovan Mitchell, but he didn’t seem fazed by the reports while talking to reporters earlier this week during an appearance for his foundation in Miami.
“After all since Ive been here, my name has been around rumors. So rumors, they dont bother me,” Herro said. “Whether Im on heat or someplace else, Im planning for the growing season.”
Regardless of the rumors and reported insufficient urgency, Bleacher Report’s Jake Fischer reported on July 19 that there surely is “optimism” among NBA executives that Herro and Miami will consent to an extension prior to the 2022-23 season.
‘”They always appear to pay their guys,'” one assistant general manager told Fischer at that time.
Herro is a staple in the Miami lineup since being drafted out of Kentucky in 2019 and is coming off his best season in the NBA in 2021-22. The reigning Sixth Man of the entire year averaged 20.7 points, 5.0 rebounds and 4.0 assists in 66 games while shooting 44.7 percent from the ground and 39.9 percent from deep.
HEAT are scheduled to open the 2022-23 season on Oct. 19 contrary to the Chicago Bulls. The franchise has before Oct. 18 extension deadline to lock him up.