As the Giannis sweepstakes loom, the Miami Heat face critical decisions on Norman Powell’s future, Andrew Wiggins’ player option, and looming extensions for Jaime Jaquez Jr. and Pelle Larsson.
MIAMI, Fla. – The 2025-26 NBA season officially concluded and the New York Knicks were the last ones standing – ending a 53-year championship drought. The clock officially starts for everyone else in the league to catch up for next season.
Despite all the Giannis Antetokounmpo chatter, the Miami Heat have internal business to handle as the Draft approaches. Following the Finals, the organization can start negotiations with its own free agents.
Norman Powell is coming off an All-Star-caliber season: 21.7 points on 60.9 percent true shooting, 3.5 rebounds, 2.5 assists, and 1.1 steals. However, availability became an issue towards the end of the regular season – only appearing in 58 total games. He couldn’t qualify for awards because of the 65-minimum rule.
The Heat and Powell have expressed mutual interest in a return, but an anticipated Antetokounpo trade might impact negotiations. Plus, he’ll be 33 years old ahead of the 2026-27 season.
Powell is an unrestricted free agent, but the Heat obtain the bird rights to go over the salary cap to re-sign him.
Simone Fontecchio, who was acquired in a sign-and-trade deal that sent Duncan Robinson to the Detroit Pistons, had a productive season. He averaged 8.5 points on 57.9 percent true shooting, three rebounds, and 1.4 assists in 70 games. Fontecchio proved to be a valuable piece to the Heat’s bench, especially with an outside 37.5 percent shooting.
The 30-year-old provides length: listed at 6-7 with a 6-11 wingspan.
Regardless of the superstar chase, the Heat might have an easier chance of re-signing Fontecchio than Powell.
Jaime Jaquez Jr. and Pelle Larsson are emerging as impactful young players who can contribute for a contending team. They showed out at the right time as both enter the final year of their rookie contracts – eligible for extensions.
This past season, Jaquez Jr. averaged 15.4 points on 57 percent true shooting, five rebounds, and 4.7 assists in 75 games. He finished second in Sixth Man of the Year voting – won by San Antonio Spurs forward Keldon Johnson. The 25-year-old could make a strong demand in negotiations.
Similar to Jaquez Jr., Larsson surpassed expectations. He averaged 11.4 points on 60.5 percent true shooting, 3.5 rebounds, and 3.4 assists in 70 games. Larsson proved to be impactful both as a starter and reserve. He hustled, often guarded the opposing best player, and coach Erik Spoelstra referred to him as the “glue guy” on numerous occasions.
Jaquez Jr. and Larsson will be restricted free agents next summer if extensions aren’t signed.
Andrew Wiggins might be the most unpredictable case.
After a full season with the Heat, the 31-year-old averaged 15.4 points on 58.4 percent true shooting, 4.8 rebounds, 2.7 assists, and 1.1 steals in 68 games, all starts. He’s still one of the most versatile two-way players in the league.
Wiggins has a $30.17 million player option for next season. He has until June 29th to make a final decision. While the former first pick could make a strong demand on the open market, it’s difficult to decipher whether another organization would surpass an annual salary of the player option.
Finally, arguably the biggest question mark of the Heat’s offseason is whether Tyler Herro will return for next season. As the organization looks to acquire a superstar, the All-Star guard would likely be included in the package. Herro’s availability was a disappointment this past season; he only appeared in 33 games.
The 26-year-old is extension eligible, but given all the trade rumors over the years, a split is trending towards reality.
It’s still early in the offseason, but the Heat have important decisions to make.
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Anthony Aguirre is the Miami Heat beat writer for Roundtable Sports. Contact info: [email protected] | 305-987-3290 | Follow on Instagram/X: @AnthonyA_Sports
