(Mandatory Credit: Ashley Landis/AP)
The Miami Heat’s most notable move this summer was acquiring Norman Powell from the Los Angeles Clippers in early July.
The cost to acquire Powell was next to nothing (Kevin Love, Kyle Anderson). But it hard-capped them at the first-apron due to using the expanded trade exception to absorb his $20.4 million.
It also didn’t affect the Heat’s cap sheet next summer, though Powell is currently extension eligible. According to a recent report from Heat insider and reporter Barry Jackson of the Miami Herald, they would be willing to extend Powell if the start of the season goes well.
“According to a source, the Heat is open to considering an extension with Powell if the start of the season goes well,” Jackson wrote Tuesday when discussing the possible routes the team takes next offseason. “A Powell extension likely would leave Miami with modest cap space if Wiggins leaves or well over the cap, but under the luxury tax line, if Wiggins and everyone else stay.”
“According to a source, the Heat is open to considering an extension with Powell if the start of the season goes well.
“A Powell extension likely would leave Miami with modest cap space if Wiggins leaves or well over the cap, but under the luxury tax line, if Wiggins and… pic.twitter.com/R78k50vJ5h
— Hot Hot Hoops (@hothothoops) September 10, 2025
Powell, 32, is eligible for a three-year, $77 million extension. But once his six-month deadline with team clears, he will be eligible for a $129 million extension over four years.
He will be eligible to sign a new deal up until the new league year; only veterans who are in the final year of their current contract (min. three years) can sign an extension at any point during his final season on contract.
In his first season as a full-time starter since 2021-22, Powell averaged 21.8 points on 41.8 percent shooting from 3-point range, in addition to 3.2 rebounds and 2.1 assists across 60 games. His next deal may be his last big payday, so it makes sense if he wants to maximize every dollar that he’ll be owed.
Miami has north of $60 million in expiring contracts heading into next season. Tyler Herro and Bam Adebayo will allocate for roughly 50 percent of the salary cap, but other players on contract will be Andrew Wiggins (if he exercises player option), Davion Mitchell, Kel’el Ware, Jaime Jaquez Jr., Pelle Larsson and Kasparas Jakucionis.
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