CHARLOTTE, NC - APRIL 14: Pelle Larsson #9 of the Miami Heat drives to the basket during the game against the Charlotte Hornets during the 2026 SoFi Play-In Tournament on April 14, 2026 at Spectrum Center in Charlotte, North Carolina. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2026 NBAE (Photo by Kent Smith/NBAE via Getty Images)
The Miami Heat think highly of Pelle Larsson, and they’re backing up their belief in the former Arizona Wildcats guard with a major extension.
Larsson has agreed to a four-year, $60 million extension with the Heat, according to ESPN’s Shams Charania. The deal comes with a mutual option for the 2030-31 season.
The contract extension makes Larsson one of the highest-paid players from the 2024 NBA Draft class despite being taken midway through the second round. Larsson has outperformed his draft selection (No. 44 overall) through two seasons in the NBA, becoming a vital part of Miami’s rotation.
Last season Larsson averaged 11.4 points, 3.5 rebounds and 3.4 assists. Larsson started 54 of the 70 games he appeared in after only starting eight games as a rookie.
The extension comes as a huge payday for Larsson, who was projected to earn $2.3 million this coming season. For Miami, the extension gives the team control of a young guard who was otherwise poised to enter restricted free agency next summer.
Miami is in win-now mode after trading for superstar Giannis Antetokounmpo in early July. The Heat also signed Klay Thompson this offseason.
Larsson’s former Arizona teammate Keshad Johnson enters his third season with the team after signing as an undrafted free agent.