MIAMI - It used to be that Dec. 15 marked the starting line for NBA trade season, the first day players signed in the offseason could be dealt.
In a league increasingly defined by free agency, only on that date does a large percentage of the NBA become available for trade discussions.
That was then.
Now, next weekend likely will pass with more idle chatter than actual trade activity.
Why? Because under the NBA’s latest collective bargaining agreement, teams willing to pay heavily in payroll face significant trade restrictions.
Teams above the first apron of the luxury tax cannot take back even a single dollar more than they send out in a deal. Teams above the second apron are barred from aggregating players in trades (sending out multiple players in a single deal).
Even if teams wanted to make moves, their options for trade partners are limited. Consider:
Teams above the second tax apron: Boston Celtics, Denver Nuggets, Golden State Warriors, Los Angeles Clippers, Milwaukee Bucks.
Teams above the first tax apron (or hard-capped by other mechanisms): Brooklyn Nets, Charlotte Hornets, Chicago Bulls, Cleveland Cavaliers, Dallas Mavericks, Detroit Pistons, Houston Rockets, Indiana Pacers, Los Angeles Lakers, Memphis Grizzlies, Miami Heat, Minnesota Timberwolves, New Orleans Pelicans, New York Knicks, Oklahoma City Thunder, Philadelphia 76ers, Portland Trail Blazers, San Antonio Spurs, Toronto Raptors, Utah Jazz, Washington Wizards.
In other words, good luck not only finding a trade but also structuring one that complies with the rules.
Still, this time of year is a chance to review which players might become available. For the Heat, the possibilities include:
Bam Adebayo
Trade status: Because his three-year, $165 million extension (effective 2026-27) was signed on July 6, he cannot be dealt until Jan. 6.
Issue: Even if the Heat considers roster changes, Adebayo is likely a cornerstone.
Expectation: Trading Adebayo could mean a departure from the team's cultural identity.
Thomas Bryant
Trade status: Has a Dec. 15 trade restriction. Initially had veto power over trades due to Bird Rights but waived it upon re-signing in July.
Issue: Most likely used as salary filler in a multi-player deal.
Expectation: If Kel’el Ware develops and Kevin Love stays healthy, a trade could benefit both Bryant and the Heat - if a suitor emerges.
Alec Burks
Trade status: Has a Dec. 15 trade restriction from his offseason free-agent signing.
Issue: Like Bryant, Burks would primarily serve as salary filler.
Expectation: With his scoring ability on a minimum deal, Burks is more valuable to the Heat than as trade fodder.
Jimmy Butler
Trade status: No restrictions.
Issue: Holds a $52 million player option for next season, and his camp expects another significant contract.
Expectation: If the Heat falters, Butler's situation will become a focal point ahead of the Feb. 6 trade deadline.
Josh Christopher
Trade status: No restrictions; on a two-way contract.
Issue: The question remains whether Christopher can contribute at the NBA level.
Expectation: Two-way deals aren't trade chips, so Christopher's status likely remains fluid.
Tyler Herro
Trade status: No restrictions.
Issue: Herro’s contract includes $2.5 million in annual unlikely incentives, which count against the tax regardless of whether they are achieved, potentially deterring trade interest.
Expectation: While selling high has its appeal, Herro’s commitment to the system may outweigh trade considerations.
Haywood Highsmith
Trade status: Has a Jan. 15 trade restriction due to re-signing with a raise exceeding 20% of his previous salary.
Issue: Unlikely another team values Highsmith as much as the Heat.
Expectation: Could be part of a larger deal for cap reasons but is unlikely to be a primary trade piece.
Jaime Jaquez Jr.
Trade status: No restrictions.
Issue: The Heat already exercised his $3.9 million rookie-scale option for next season, with a $5.9 million option for 2026-27 due by Oct. 31.
Expectation: As a player on a rookie-scale deal, Jaquez offers strong value. A trade would require substantial return.
Nikola Jovic
Trade status: No restrictions.
Issue: The Heat exercised Jovic’s $4.4 million rookie-scale option for next season.
Expectation: Jovic’s standing has shifted from trade chip to future building block. However, a significant trade scenario could put him back in play.
Kevin Love
Trade status: Restricted until Dec. 15 due to his offseason signing.
Issue: Love’s locker-room value outweighs any trade interest.
Expectation: The Heat likely holds onto Love in hopes he remains healthy.
Duncan Robinson
Trade status: No restrictions.
Issue: Can terminate his contract by June 29 or opt for $9.8 million guaranteed next season.
Expectation: Robinson could be a valuable trade piece, depending on outside interest and the Heat’s need for shooting.
Terry Rozier
Trade status: No restrictions.
Issue: Carries a $24.9 million guarantee for next season as part of a $26.6 million total contract year.
Expectation: Rozier’s inclusion in a trade likely requires draft compensation due to his hefty contract.