Report: Tyler Herro, Heat agree to four-year, $130 million extension

Report: Herro, Heat agree to four-year, $130 million extension originally appeared on NBC Sports Bayarea

Tyler Herro just got paid.

The Miami Heat reportedly signed Herro to a four-year, $130 million extension on Sunday, according to ESPN’s Adrian Wojnarowski:

Herro, the NBA’s reigning Sixth Man of the Year, would make $32.5 million a year once that contract kicks in. October 18 is the deadline for rookie scale extensions for those drafted in 2019, which Herro was the No. 13 overall pick in. 

His first contract since entering the league was a four-year deal worth just a little over $17 million, so his new contract will give him a significant pay raise.

The 22-year-old guard has steadily improved every season since breaking out in the NBA bubble in Orlando, with averages of 20.7 points, 5.0 rebounds and 4.0 assists on a 44.7/39.9/86.8 shooting split in 2021-22. 

Miami’s highest-paid players are Jimmy Butler ($48.8 million average salary once his 2023-24 extension kicks in) and Bam Adebayo ($32.6 million average salary), so Herro, a Kentucky Wildcat for one season, is now third.

Herro is also the sixth first-round pick in 2019 to agree to a rookie extension, which includes the first three overall selections Zion Williamson of the New Orleans Pelicans, Ja Morant of the Memphis Grizzlies and RJ Barrett of the New York Knicks