Miami Heat

Miami Heat 2023-24 Salary Cap

Heat 2023-24 Salary Cap

An updated look at the Miami Heat 2023 salary cap table, including team cap space, dead cap figures, and complete breakdowns of player cap hits, salaries, and bonuses.

Player Option
Club Option
Non-Guaranteed
Estimate
Player (14) Pos. Cap Figure Base
Salary
Likely
Incent.
Unlikely
Incent.
Trade
Bonus
Cap
Figure
Cap %
Team
Cap %
League
Cash Remaining
(Guaranteed)
Notes
Butler Jimmy Butler SF $45,183,960 $45,183,960 - - - $45,183,960 24.28 33.22 $146,396,031
($146,396,031)
Vet Extension / Bird
Adebayo Bam Adebayo C $32,600,060 $32,600,060 - - - $32,600,060 17.52 23.97 $104,545,020
($104,545,020)
Rk Extension / Bird
Lowry Kyle Lowry PG $29,682,540 $29,682,540 - - - $29,682,540 15.95 21.82 $29,682,540
($29,682,540)
Acquired via Trade
Herro Tyler Herro SG $27,000,000 $27,000,000 - $2,500,000 - $27,000,000 14.51 19.85 $120,000,000
($120,000,000)
Rk Extension / Bird
Robinson Duncan Robinson SF $18,154,000 $18,154,000 - - - $18,154,000 9.75 13.35 $57,448,000
($47,448,000)
Free Agent / Bird
Martin Caleb Martin SF $6,802,950 $6,802,950 - - - $6,802,950 3.66 5.00 $13,929,850
($13,929,850)
Free Agent / NT-MLE
Love Kevin Love C $3,835,738 $3,835,738 - - - $3,835,738 2.06 2.82 $7,863,263
($7,863,263)
Free Agent / Non-Bird
Jaquez Jr. Jaime Jaquez Jr. SF $3,510,600 $3,510,600 - - - $3,510,600 1.89 2.58 $16,997,141
($3,510,600)
Drafted / Rookie Scale
Richardson Josh Richardson SG $2,891,467 $2,891,467 - - - $2,891,467 1.55 2.13 $5,942,620
($5,942,620)
Free Agent / Minimum
Bryant Thomas Bryant C $2,528,233 $2,528,233 - - - $2,528,233 1.36 1.86 $5,373,575
($5,373,575)
Free Agent / Minimum
Jovic Nikola Jovic SF $2,352,000 $2,352,000 - - - $2,352,000 1.26 1.73 $9,261,617
($4,816,200)
Drafted / Rookie Scale
Highsmith Haywood Highsmith F $1,902,137 $1,902,137 - - - $1,902,137 1.02 1.40 $1,902,137
($1,902,137)
RoS / NT-MLE
Robinson Orlando Robinson C $1,801,769 $1,801,769 - - - $1,801,769 0.97 1.32 $3,922,462
($425,000)
Free Agent / Minimum
G'teed: $425,000
Smith Dru Smith SG $1,801,769 $1,801,769 - - - $1,801,769 0.97 1.32 $3,922,462
($425,000)
Free Agent / Minimum
G'teed: $425,000


2023-24 Two-Way

Players signed to Two-Way contracts that are currently designated to G-League affiliate. Two-way salaries do not count against a team's Total Cap/Tax Allocations.

Player (3) Pos.
CainJamal Cain SF          
HamptonRJ Hampton PG          
SwiderCole Swider F          


2023-24 Cap Holds

Cap holds represent "placeholders" for pending free agents, unsigned draft picks, offer sheets, etc... Since the Heat are currently over the league salary cap, these cap holds do not count against their Total Cap figure. Renouncing these cap holds will NOT afford the team any new cap space. These figures are not counted toward a team's Luxury Tax Allocation.

Player (3) Pos. Qualifying Offer Likely Incent. Unlikely Incent. Trade Kicker Cap Figure Rights
HaslemUdonis Haslem PF - $2,019,706 Bird
MickeyJordan Mickey PF - $2,019,706 Non-Bird
WadeDwyane Wade SG - $2,019,706 Early Bird


Exceptions

Exceptions are essentially "grants" offering teams an additional way to sign players. Exceptions can be split up for multiple player signings, however only one of these exceptions may be used in a season and they cannot be combined.

Taxpayer Mid-Level Exception Details is awarded annually to teams who are above the cap and above the Luxury Tax Apron ($172,346,000) and can be used for contracts up to 3 years in length.

Trade Exception Details becomes available when a team relinquishes more salary than it acquires during a trade. The "credit" balance remains as an exception that can be used within the next year to acquire salary via trade without further relinquishing additional salary.

Type Reason (Used On) Original Available
Taxpayer Mid-Level
$5,000,000 $5,000,000
Trade
2/07/2024
Dewayne Dedmon trade with SAS
$4,700,000 $4,700,000
Trade
7/06/2024
Victor Oladipo trade with OKC
$9,450,000 $9,450,000
Trade
7/08/2024
Max Strus trade with CLE
$7,243,842 $7,243,842


2023-24 Luxury Tax Totals

Denotes the Heat current standing in terms of the luxury tax threshold. Teams that spend over the threshold pay fines (estimated below).

Type Totals
2023 NBA Luxury Tax Threshold $165,294,000
Total Taxable Salaries $180,265,160
Current Luxury Tax Space $-14,971,160
Est. Luxury Tax Bill $28,677,903


2023-24 Miami Heat Salary Cap Totals

The Heat are currently over the league salary cap. This means Cap Holds & Exceptions are NOT included in their Total Cap Allocations, and renouncing these figures will not afford them any cap space. The team may only sign outside players using any available exceptions or at league minimum salaries.

Cap Type Cap Total
Active Roster Cap $180,047,223
Cap Holds $6,059,118
Total Cap Allocations $186,106,341
Salary Cap Maximum
2023 NBA Salary Cap Max $136,021,000
Current Cap Space $-50,085,341
"Super Tax" Apron
2023 NBA Super-Tax Apron $182,794,000
Super-Tax Apron Space $28,840
 

2023-24 Practical Cap Space

Available Practical Cap Space: $-47,331,803 — $-41,272,685

$-47,331,803
Projected Practical Cap Space:

This is calculated by determining all guaranteed salaries + any dead cap from non-guaranteed salaries + estimated exercised and declined options + estimated retained cap holds and draft pool cap holds.

$-41,272,685
Maximum Possible Cap Space:

This is calculated by determining all guaranteed salaries + any dead cap from non-guaranteed salaries. All other options, cap holds, exceptions are assumed as declined, waived or renounced.





Deadlines

Deadline Date Player Type Value
12/01/2023 Orlando Robinson 2023-24 Guaranteed $850,000
1/10/2024 Orlando Robinson 2023-24 Guaranteed $1,801,769
1/10/2024 Dru Smith 2023-24 Guaranteed $1,801,769
6/29/2024 RJ Hampton 2024-25 Qualifying Offer — Two-Way $1,981,953
6/29/2024 Cole Swider 2024-25 Qualifying Offer — Two-Way $1,981,953
6/29/2024 Jamal Cain 2024-25 Qualifying Offer $1,981,953
6/29/2024 Haywood Highsmith 2024-25 Qualifying Offer $2,377,671
6/29/2024 Caleb Martin 2024-25 Player Option $7,126,900
6/29/2024 Josh Richardson 2024-25 Player Option $3,051,153
6/29/2024 Kevin Love 2024-25 Player Option $4,027,525
6/29/2024 Thomas Bryant 2024-25 Player Option $2,845,342
7/15/2024 Orlando Robinson 2024-25 Guaranteed $2,120,693
7/15/2024 Dru Smith 2024-25 Guaranteed $2,120,693
10/31/2024 Jaime Jaquez Jr. 2025-26 Club Option $3,861,600
10/31/2024 Nikola Jovic 2025-26 Club Option $4,445,417
6/29/2025 Jimmy Butler 2025-26 Player Option $52,413,394
6/29/2025 Duncan Robinson 2025-26 Player Option — Early Termination Option
6/29/2025 Dru Smith 2025-26 Qualifying Offer $2,862,936
7/08/2025 Duncan Robinson 2025-26 Guaranteed $19,888,000
10/31/2025 Jaime Jaquez Jr. 2026-27 Club Option $5,939,141
6/29/2026 Nikola Jovic 2026-27 Qualifying Offer $6,592,553
6/29/2027 Jaime Jaquez Jr. 2027-28 Qualifying Offer $9,021,556




Unsigned Draft Picks

Draft Year Player Age Position Country College
1995 George Banks 28 PF USA Texas El-Paso
1997 Roberto DueƱas 48 C ESP


Future Draft Picks

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
2024
MIA
2025
MIA
Top-14 Protected
OKC
15-30 (via LAC)
2026
MIA    OKC
MIA pick if settled with OKC, OKC pick if not settled (via LAC)
2027
MIA
2028
MIA
2029
MIA
31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60
2024
MIA
31-50
ATL
51-55
NYK
56-60 (via CLE to DET to PHI)
2025
IND
31-37
BKN
38-59 (via IND)
2026
MIA
via CLE
MEM
More favorable of IND and MIA to MEM
2027
SAS
Least favorable of HOU, IND, MIA and OKC then others to OKC (via HOU to DET to OKC; via UTA to SAS)
MIA
Least favorable of SAS or HOU, IND, MIA and OKC then others to OKC and SAS
2028
DAL
via SAS
2029
OKC