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The Heat and guard Tyler Herro have reportedly agreed to terms on a four-year, $130 million extension, according to ESPN’s Adrian Wojnarowski.
Herro’s agents Jeff Schwartz and Mike Lindeman of Excel Sports informed ESPN of the deal Sunday night, which will keep the 22-year-old in Miami through the 2026–27 season.
Wojnarowski reported the contract will include $120 million guaranteed with incentives that can bring the value up to a full $130 million. Miami had until Oct. 18, the NBA’s extension deadline for players from the 2019 draft class, to lock Herro up on a new deal.
Drafted 13th overall out of Kentucky, Herro turned in a breakout campaign en route to winning his first hardware as a pro last season. The dynamic sharpshooter became the first player in Heat franchise history to win the NBA Sixth Man of the Year Award, earning the honor after averaging a career-best 20.7 points and four assists along with five rebounds in 66 regular-season appearances (10 starts). He went on to average 12.6 PPG in the postseason for the No. 1 seed Heat who fell to the Celtics in the Eastern Conference finals in six games.
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Herro’s star has continued to rise since his standout rookie season, a year that saw him shine in Miami’s run to the 2020 NBA Finals after he earned a selection on NBA’s All-Rookie second team. In Game 2 against the Lakers, Herro passed Magic Johnson as the youngest player to start an NBA Finals game, and later set a new mark in Game 4 for the most three-pointers made by a rookie in NBA playoffs history (45).
With his new deal reportedly finalized, Herro stands to step into a more prominent role entering the ’22–’23 season alongside All-Stars Jimmy Butler and Bam Adebayo, who both inked their own $100 million-plus deals in ’20 and ’21, respectively.
For his career, Herro has averaged 16.7 PPG, 4.7 RPG and 3.2 APG in 175 games played in the regular season, and 14.0 PPG, 4.5 RPG and 3.2 APG in 40 playoff games.
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