Report: Tyler Herro reaches 4-year, $130 million extension with Heat

The Miami Heat and Tyler Herro agreed to a four-year, $130 million contract extension on Sunday afternoon, according to ESPN’s Adrian Wojnarowski.

The league’s reigning Sixth Man of the Year was set to enter the final year of his initial rookie contract with the Heat this fall. He will now be with the franchise through the 2026-27 season, and will earn an average salary of more than $32 million a season.

The Heat confirmed the extension, but did not disclose terms of the deal.

“Tyler is an impact multi-faceted player and we are excited to have him signed for the next five years,” Heat president Pat Riley said in a statement. “His improvement every year since we drafted him has led to this day. We believe he will continue to get better.”

Herro confirmed the deal on Twitter, too.

Herro averaged a career-high 20.7 points, five rebounds and four assists last season in Miami, his third with the Heat after they took him with the No. 13 overall pick out of Kentucky in 2019. He had 1,367 total points last season, making him one of just two players to score more than 1,000 off the bench.

The 22-year-old beat out Cavaliers veteran Kevin Love and Suns forward Cam Johnson to earn the Sixth Man award in May. That made him the first player in franchise history to take home the award, and the first Heat player to win any league-wide award since LeBron James' MVP campaign during the 2012-13 season.

Herro, along with Jimmy Butler and Bam Adebayo, has helped lead the Heat to the postseason in all three of his seasons with the franchise. They fell in the Finals to the Los Angeles Lakers in the Walt Disney World bubble in 2020, and fell to the Eastern Conference finals to the Boston Celtics last season after earning the top seed in the conference.

The Heat will open their season on Oct. 19 against the Chicago Bulls, and will host the Minnesota Timberwolves in the first of five preseason games this week.

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