During what’s usually a quiet period in the NBA offseason, the Miami Heat has made a trade.
By dealing away Highsmith and not acquiring a player in return, the Heat’s roster is down to 13 players on standard contracts for this upcoming season — two below the NBA regular-season limit of 15 players on standard deals.
But more importantly, the trade brings the Heat under the luxury-tax threshold. By shedding Highsmith’s expiring $5.6 million salary, the Heat goes from $1.3 million above the luxury-tax line to $4.3 million under the luxury-tax threshold.
After finishing as a luxury tax team in each of the last two seasons, the Heat was determined to escape the luxury tax for this upcoming season in order to avoid the onerous repeater tax that’s triggered when a team crosses the luxury tax threshold in four straight seasons or four times during a five-season period.
Highsmith, who was expected to miss eight to 10 weeks in the wake of undergoing successful surgery to repair a meniscal tear in his right knee on Aug. 8, departs the Heat after developing into one of the organization’s latest undrafted success stories.
After playing in 100 G League games and spending the 2020-21 season in the German Basketball Bundesliga, Highsmith initially joined the Heat in the middle of the 2021-22 season on a 10-day contract. He had played in just five regular-season NBA games prior to signing with Miami.
This breaking news story will be updated.