When a neon name who might, perhaps, possibly become available in the trade market is floated on social media, Heat fans begin salivating in a way similar to house pets when treats are waved in front of them.
The Heat’s star search hasn’t resulted in the harpooning of a whale this decade, but Miami now seems better positioned to bid for one in the trade market.
An NBA star invariably will be traded at some point this summer or beyond, with speculation swirling around Kevin Durant and Trae Young, and NBA writers Howard Beck and Sam Amick suggesting Memphis guard Ja Morant’s future is worth monitoring.
So after the Jimmy Butler trade, what’s the most possible the Heat could offer in a deal? Exploring, as the team returns home from Wednesday’s game in Boston for a Thursday home game against Memphis on TNT:
▪ Draft picks: After June’s NBA Draft, the Heat will have two of its own first-round picks that can be traded – in 2030 and 2032. Miami also can trade a first-round pick that it’s owed from Golden State; the Heat will get the pick this June if it falls between 11 and 30, which seems likely. So that’s three tradable picks.
But... there also might be a fleeting moment on draft night where Miami essentially could offer what equates to as many as four first-four picks.
Consider:
If the Heat misses the playoffs, it would keep its first-round pick this June and then Oklahoma City would get Miami’s first-round pick in 2026 and Charlotte would get Miami’s first round pick in 2028, with no protections on either of those picks under those circumstances.
If the Heat makes the playoffs, OKC would get Miami’s first-round pick in June, and Charlotte would get the Heat’s first-rounder in 2027 (if Miami makes the playoffs in 2026-27) or in 2028 otherwise.
Let’s say, hypothetically, that Miami has both its own and Golden State’s first-round picks in June, which is a strong possibility.
And let’s say that some star becomes available in trade talks in June.
In that scenario, Miami could offer what amounts to as many as four first-rounders: That would include its own first-round picks in 2030 and 2032 (which cannot be traded until after draft night). Miami also could draft players on behalf of other teams with its own first-round pick and Golden State’s first-round pick this June, and agree to send those players to that team after July 1, as part of a blockbuster trade for a star.
Drafting a player on behalf of another team is a legal circumvention of the rule that prevents teams from being left without a first-round pick in consecutive years. And it’s the one scenario where Miami could offer what equates to as many as four first-round picks in a trade, but only if the Heat has two first-round picks in June.
▪ Pick swaps: Besides the tradable picks explained above, Miami also can offer pick swaps in either 2025 or 2026 and either 2027 or 2028, plus 2029 and 2031 (or any of the years above when the Heat can simply trade a pick.)
▪ Players: Bam Adebayo or Tyler Herro likely would be requested in most trades for All NBA players, though the Suns didn’t ask for Adebayo in Durant talks. Miami likely would prefer to keep both and augment the Adebayo/Herro core with a star, if possible.
The Heat has three contracts (Andrew Wiggins, Terry Rozier and Duncan Robinson) that are big enough to facilitate a trade for a player earning a high salary. For example, a purely hypothetical deal of Wiggins, Kyle Anderson, Nikola Jovic and two or three first-rounders for Morant and a minimum salary would work within cap rules. So would Rozier’s expiring contract and three among Jaquez, Jovic, Kel’el Ware and Pelle Larsson, plus draft inventory.
With Young, a package including Rozier’s expiring deal, Jaquez, Jovic, Anderson and first-round picks would also work, hypothetically.
Keep in mind that before July 6, only the $9.9 million guaranteed portion of Robinson’s $19.9 million salary would count on the books of the team trading for him. But the entire $19.9 million would count on Miami’s books, which muddles the math and complicates potential trades.
Miami likely could include Robinson in a trade for a high-salaried player only if it is well below the first apron, which would allow it to take back more money than it sends out. For Miami, achieving that would be difficult.
▪ Trade exceptions: These are mechanisms to absorb salary without sending any salary back. Miami owns three trade exceptions, but they cannot be combined, nor can they be aggregated with other players.
The three exceptions are $16.1 million (from the Anderson trade; expires next Feb. 6); $3.1 million (for the Josh Richardson trade in February; also expires next Feb. 6); and $2.1 million (from the Thomas Bryant deal with Indiana; that expires Dec. 15).
▪ Exception money trades: Beginning last season, teams could use their mid-level exceptions to trade for players, though the player must fit into the exception, without additional players being added.
That’s the mechanism by which Miami acquired Anderson at the trade deadline.
The Heat could have a full $14.1 million mid-level exception this summer, and Miami could use that to acquire a player via trade. But that exception cannot be aggregated with other exceptions.
Teams also can acquire a player, via trade, into their bi-annual exception, which is expected to be $5.1 million next season. Miami has that mechanism available this offseason.
Bottom line: For the first time in years, Miami could be in position to offer four first-round draft picks, young players and two pick swaps if an All NBA type player becomes available. (Or three first-rounders and three pick swaps.) And that could open doors that have been largely closed to Miami in recent years.
This story was originally published April 2, 2025 at 10:40 AM.
Miami Herald
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Barry Jackson has written for the Miami Herald since 1986 and has written the Florida Sports Buzz column since 2002.