As the Miami Heat have been surrounded by rumors with Ja Morant of the Memphis Grizzlies, the question remains of what the team will have to give up to get the talented guard. While the Heat have been linked to Morant and also superstar Giannis Antetokounmpo, there is no doubt how busy the team could be ahead of the Feb. 5 deadline.
These talks have heightened as each day goes by, as Miami and Memphis have had “preliminary discussions” around the availability of Morant, though the connection has been labeled as “premature,” according to Anthony Chiang of The Miami Herald.
“There have been preliminary discussions between the Heat and Grizzlies regarding Morant’s availability, according to a league source,” Chiang wrote. “Those talks have not yet escalated, and a deal is not imminent, with a source characterizing the Heat’s link to Morant as ‘premature.'”
There have been other reports that have claimed that Morant sees Miami as an “attractive option,” per Kelly Iko of Yahoo Sports.
“There are teams with varying levels of interest in Morant — Minnesota, Sacramento, and Milwaukee, to name a few — but Miami has quickly emerged as an attractive option to Morant and his camp in recent days, sources said,” Iko wrote.
Now, with the news of Morant buying a home in Miami, the speculation has reached a new level.
“Memphis Grizzlies star point guard Ja Morant has bought a home in Miami, according to Miami-Dade County property records,” Lucas Finton and Damichael Cole of the Memphis Commercial Appeal wrote. “Records show that, on Dec. 23, 2025, Morant was listed as an executor of a trust that purchased a $3.2 million home.”
However, it's apparent that Morant's trade value is low, so how much should the Heat give up for the star? Let's discuss:
In a potential Heat pursuit, what does Ja Morant's trade value look like?
Memphis Grizzlies guard Ja Morant (12) dribbles the basketball as Miami Heat center Kel'el Ware (7) defends during the first quarter at Kaseya Center.
Sam Navarro-Imagn Images
As the Heat looks into the trade value of Morant, it does appear to be low, as Tim MacMahon quoted a couple of reasons as to why from an Eastern Conference executive.
“I’ll just quote an East executive. The combination of pain in the a**, injury prone, not that good anymore, and big contract, is a bad one,” McMahon said.
Whether fans believe Miami should trade for Morant or not is obsolete, as this East executive could share the same feelings with the ownership of the Heat. However, there is no denying the talent that could be unlocked by Miami's famed system that gets the best out of its players.
Morant has dipped in production over the past few seasons, but one could credit the effort level put in by the 26-year-old, as his displeasure with the Grizzlies organization has been well-documented.
With his public frustration with the team, his dip in play, mixing in the off-the-court situations that have led to many suspensions, and a contract where he'll earn around $40 million per year until the 2028-29 season, it's hard ask for a big return.
I'd be wary of giving up too many assets, especially if the Heat are going to see themselves in the sweepstakes for Antetokounmpo, but playing the waiting game could be dangerous. Though there have been talks that Miami could be in the driver's seat to acquire both players, it could sound like wishful thinking.
This past season, Morant has averaged 19 points, 7.6 assists, and 3.2 rebounds per game while shooting 40.1 percent from the field and 20.8 percent from deep, with most categories having been down to his past years.
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What the Heat should and should not trade for Ja Morant
Looking at what a Morant trade for the Heat could look like, many mock deals have included multiple first-round picks and an assortment of players that include Kel'el Ware, Andrew Wiggins, and others. That is too much, especially when the main goal should still be Antetokounmpo, as even Zach Lowe shot down that type of deal.
“Miami has been the hot team,” Lowe said on the latest episode of his show. “I saw some fake trade where it was like Wiggins + Jaquez + 2 first-round picks, and I was like, ‘What are you smoking?’ The Miami trade is more like Herro + dead money [Terry Rozier] + not much more than that.
“I think some team will trade something real for him eventually,” Lowe continued. “It’s the ultimate ‘buy low’ thing; He’ll never be this unhealthy. The off-court stuff is hopefully in the rear view. He’s totally unmotivated there, and will get the motivated chip on his shoulder [when he’s gone].”
With Lowe even including Herro in a potential deal, I'd almost be wary of that as well, as while the long-time Miami guard has a concerning injury history and is due for an extension this summer, though recording an All-Star season last year.
The talks around a potential deal for Morant have included the expiring contract of Terry Rozier, Simone Fontecchio, a lottery first-round pick in 2028 or 2029, and one of Miami's young players, Jaime Jaquez Jr. or Nikola Jovic. For someone as talented as Morant, fans and the organization could feel good with that, especially when the team would be keeping crucial pieces for a potential Antetokounmpo down the line.
Potential roadblock for Heat obtaining Ja Morant?
It is interesting to think about the Heat's potential pursuits of Morant and Antetokounmpo, as the team has been interested in big-name stars in the past, like Kevin Durant last offseason and Damian Lillard a few years ago.
Morant's fit with Miami would be an interesting one, as it gives the team a high-end point guard to pair with Bam Adebayo, Norman Powell, and others, plus the Murray State product would join a team with familiarity. With the Heat now running a free-flowing, fast-paced offense that limits the amount of ball screens, it has been implemented with the help of Noah LaRoche, who was instrumental in bringing it to Memphis, and a style that Morant was not a fan of.
As LaRoche's involvement in a consulting role could pose problems to fans in pursuing Morant, NBA insider Jake Fischer would say that it would surprise him if that dissuaded Pat Riley from making a move. After all, Morant's interest in Miami has been well-noted, as Iko continued to report.
“The Heat have historically been regarded as one of the NBA’s most detail-oriented and structured organizations, a major aspect of development that appeals to Morant, who has missed 34 games due to various suspensions,” Iko wrote. “Morant also has a deep respect for Heat head coach Erik Spoelstra, who also runs Team USA; Morant desires to represent his country in the 2028 Summer Olympics in Los Angeles. Miami’s veteran presence is an additional selling point and something Morant craves.”
If the Heat could get Morant on a low-risk deal, it would be too good to pass up on, but if Miami were to have to throw in an ascending young player or first-round picks, you might still have to do it.