Haywood Highsmith and the Miami Heat have reached a free agent agreement on a two-year, $11 million contract, as reported by ESPN’s Adrian Wojnarowski.
Highsmith, 27, was a valuable name on the free market because he is another product of the Heat’s developmental system. Many clubs had shown some interest in signing Highsmith in the free agency market, but the offers the Heat forward was receiving were largely determined by the financial predicament teams throughout the league are facing.
The Heat prioritized bringing back Highsmith when Caleb Martin chose to depart Miami and accept a four-year, $32 million deal with the Philadelphia 76ers. Highsmith has developed significantly over the previous three years and seems to be a valuable backup player in Miami. He therefore has a very good chance of replacing Martin in the Heat’s nightly rotations.
This past season, Highsmith played in 66 games for the Heat, the most in a single season of his NBA career. He averaged 6.1 points, 3.2 rebounds, and 39.6 percent from three-point range. After the All-Star break, Highsmith played an average of about 20 minutes per game and shot over 40 percent from three-point range, demonstrating a significant improvement in his play late in the season.
Heat reporter Ira Winderman was informed by Haywood’s agent, Jerry Dianis, “We’ve been consistent with Miami with how Haywood felt.” We also sensed that he desired to be in Miami. This agreement honors that.
Highsmith’s contract with the Heat is fully guaranteed with no options, as Wojnarowski points out, meaning the rookie forward is bound to the team through the 2025–2026 campaign.
When it comes to making moves in free agency and trade talks throughout the offseason, the Heat are typically fairly aggressive. Due to the Heat’s huge payroll and tax obligations, things have been quiet on South Beach thus far this summer.
Bam Adebayo, on the other hand, was awarded a new contract; he will remain with Miami until the 2028–2029 season following the completion of a three-year, $165 million contract extension. Adebayo’s existing contract has two more years left until this agreement takes effect.
Developing players is a specialty of the Heat. Max Strus and Gabe Vincent, who both signed lucrative contracts for the upcoming season, are examples of how Miami is able to maximize its players’ potential. Martin is another example of this. Considering that he will be among the first players called off the bench when the 2024–25 season gets underway, Erik Spoelstra and the Heat are hoping that Highsmith can be the next big name to emerge for them.
The Heat failed in their attempts to make a major impression throughout the summer, while exploring alternative options, including as a possible sign-and-trade for DeMar DeRozan. Conversely, Highsmith opted to wait and observe how events unfolded in Miami before considering minimum-like offers from other competitive teams.
In the end, the two parties got back together this summer with a deal that benefited the player and the team.
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