Quick: Over the cap and hard-capped via the Jimmy Butler sign and trade.
Salary Cap: $109,140,000
Luxury Tax Threshold: $132,627,000
Hard Cap: $138,928,000
Projection for 2020-21 ($115 million cap): Up to $42.4 million in cap space, less if Kelly Olynyk opts in.
Roster Count: 15 guaranteed, two two-ways
PG: Kendrick Nunn, Goran Dragic
SG: Jimmy Butler, Tyler Herro, Chris Silva, Gabe Vincent (two-way)
SF: Duncan Robinson, Andre Iguodala, Derrick Jones, KZ Okpala
PF: Bam Adebayo, Jae Crowder, Solomon Hill, Udonis Haslem, Kyle Alexander (two-way)
C: Meyers Leonard, Kelly Olynyk
*Note: Teams often adjust their depth chart throughout the season, sometimes game by game.
- Trade Exception (James Johnson, expiring 2/6/21) — $7,533,867
- Mid-Level Exception — $7,892,772 (KZ Okpala, Chris Silva)
- Bi-Annual Exception — $3,623,000
Waived Players: Ryan Anderson (stretched), Yante Maten, Mychal Mulder, Jeremiah Martin, Skyler Flatten, Babu Palo, Davon Reed, Kyle Alexander, Daryl Macon (two-way)
Traded Players: Hassan Whiteside, Josh Richardson, Justise Winslow, James Johnson, Dion Waiters
Expired 10-Day Contracts: None
G-League Affiliate: Sioux Falls Skyforce (general manager Eric Amsler, Coach Eric Glass)
Two-Way Contracts: Gabe Vincent, Kyle Alexander
Head Coach: Erik Spoelstra
Assistants: Juwan Howard, Keith Smart, Malik Allen, Chris Quinn (player development), Anthony Carter (player development)
Trainers: Jay Sabol, Bill Foran (strength and conditioning)
- Pat Riley — president
- Andy Elisburg — senior vice president, basketball operations/general manager
- Chet Kammerer — senior advisor of basketball operations/basketball
- Adam Simon — vice president, basketball operations/assistant general manager
- Shane Battier — vice president, basketball development & analytics
- 2020 — Owe second-rounder to the Sacramento Kings (Zoran Dragic, Kyrie Irving, George Hill).
- 2021 — Owe first-rounder to the Oklahoma City Thunder (Goran Dragic, Mikal Bridges, Tobias Harris, Paul George).
- 2021 — Owe second-rounder to the Atlanta Hawks (Brian Roberts, Gary Trent Jr., Dewayne Dedmon).
- 2022 — Owed second-rounder from the Denver Nuggets (Bol Manute Bol), may come from the Philadelphia 76ers.
- 2022 — Owe second-rounder to the Indiana Pacers (Thaddeus Young).
- 2023 — Owe first-rounder (lottery protected through 2025, unprotected in 2026) to the Oklahoma City Thunder (Jimmy Butler, Paul George).
- 2023 — Owe second-rounder to the Dallas Mavericks or Memphis Grizzlies (Josh McRoberts, Delon Wright).
- 2024 — Owe second-rounder (in the 51-55 range) to the Atlanta Hawks (Bol Manute Bol).
- 2024 — Owe second-rounder (not in the 51-55 range) to the Philadelphia 76ers (Dwyane Wade, Kevin Porter Jr., Jordan Bone).
- 2025 — Owe second-rounder to the Indiana Pacers (Thaddeus Young).
- 2026 — Owe second-rounder to the Indiana Pacers (Thaddeus Young).
Cash Paid ($5,617,000 max): $0
Cash Received ($5,617,000 max): $0
- 7/15/20 — Duncan Robinson’s salary guarantees at $1 million for 2020-20 (revised date TBD).
- 10/16/20 — NBA Draft.
- 10/17/20 — Player option for Kelly Olynyk.
- 10/19/20-10/23/20 — NBA Moratorium.
- Before first day of 2020-21 season — Extension deadline on Bam Adebayo.
- First day of the 2020-21 season — Duncan Robinson and Kendrick Nunn’s $1,663,861 guarantees for 2020-21 (revised date TBD).
- 10/31/20 — Team option on Tyler Herro (revised date TBD).
- 2/6/21 — James Johnson trade exception expires.
- 6/29/21 — Team option deadlines for Andre Iguodala and Chris Silva.
- 6/29/21 — Qualifying offer deadlines for Bam Adebayo, Duncan Robinson and Kendrick Nunn.
- 10/31/21 — Team option on Tyler Herro.
- 6/29/22 — Player option deadline for Jimmy Butler.
- 6/29/22 — Qualifying offer deadline for Chris Silva and KZ Okpala.
- Before the first day of the 2022-23 season — Extension deadline for Tyler Herro.
- 6/29/23 — Qualifying offer deadline for Tyler Herro.
Teams and players can renegotiate guarantee dates. The NBA’s general cut-down date is January 10, although players need to clear 48 hours of waivers.
- 5/14/19 — Received the 13th pick in the draft lottery.
- 6/13/19 — Goran Dragic opted into his $19,217,900 salary.
- 6/19/19 — Traded a 2024 second-rounder (protections TBD) and cash (TBD) to the Atlanta Hawks for the 44th pick in the draft.
- 6/20/19 — Drafted Tyler Herro (13th) and Bol Manute Bol (44th).
- 6/21/19 — Hassan Whiteside opted into his $27,093,018 salary.
- 6/21/19 — Traded the rights to Bol Manute Bol (44th) to the Denver Nuggets for a 2022 second-rounder and $1.2 million.
- 7/1/19 — Kendrick Nunn’s salary guaranteed at $50,000 for 2019-20.
- 7/6/19 — Waived and stretched Ryan Anderson.
- 7/6/19 — Traded Hassan Whiteside to the Portland Trail Blazers and a first-rounder to the Los Angeles Clippers for Meyers Leonard from the Blazers and Jimmy Butler on a four-year $140,790,600 contract (player option in the final season), via sign and trade from the Philadelphia 76ers.
- 7/6/19 — Traded three second-rounders to the Indiana Pacers for the rights to KZ Okpala (32nd) from the Phoenix Suns.
- 7/7/19 — Signed KZ Okpala (2019-32nd) to a three-year $4,198,912 contract.
- 7/10/19 — Signed Kyle Alexander to a non-guaranteed $898,310 minimum summer contract (exhibit 10).
- 7/10/19 — Signed Tyler Herro (2019-13th) to a $17,166,348 rookie-scale contract.
- 7/11/19 — Signed Jeremiah Martin to a non-guaranteed $898,310 minimum summer contract (exhibit 10).
- 7/11/19 — Signed Chris Silva Martin to a non-guaranteed $898,310 minimum summer contract (exhibit 10).
- 7/15/19 — Duncan Robinson’s salary guaranteed at $1 million for 2019-20.
- 7/29/19 — Waived Yante Maten.
- 8/1/19 — Derrick Jones’ $1,645,357 guaranteed for 2019-20.
- 8/1/19 — Kendrick Nunn’s salary guaranteed at $150,00 for 2019-20.
- 8/6/19 — Re-signed Udonis Haslem to a $2,564,753 contract.
- 9/4/19 — Signed Davon Reed to a $1,620,564 minimum summer contract.
- 9/11/19 — Picked up the fourth-year rookie-scale option on Bam Adebayo.
- 9/16/19 – Signed Mychal Mulder to a non-guaranteed $898,310 minimum summer contract.
- 9/20/19 — Signed Daryl Macon to a non-guaranteed $1,445,697 minimum summer contract.
- 10/15/19 — Waived Mychal Mulder and Jeremiah Martin.
- 10/15/19 — Signed Skyler Flatten to a non-guaranteed $898,310 minimum summer contract.
- 10/15/19 — Signed Bubu Palo to a non-guaranteed $898,310 minimum summer contract.
- 10/18/19 — Converted Chris Silva to a two-way contract.
- 10/19/19 — Waived Skyler Flatten, Babu Palo, Davon Reed and Kyle Alexander.
- 10/19/19 — Converted Daryl Macon to a two-way contract.
- 10/23/19 — Kendrick Nunn’s salary guaranteed at $450,000 for 2019-20.
- 1/8/20 — Waived Daryl Macon (two-way).
- 1/8/20 — Signed Gabe Vincent to a two-way contract.
- 1/10/20 — Duncan Robinson and Kendrick Nunn’s $1,416,852 guaranteed for 2019-20.
- 1/15/20 — Signed Chris Silva to a three-year $3,767,520 contract, team option on final season (ending his two-way).
- 1/15/20 — Signed Kyle Alexander to a two-way contract.
- 2/6/20 — Traded Justise Winslow and Dion Waiters to the Memphis Grizzlies, and James Johnson to the Minnesota Timberwolves for Andre Iguodala, Jae Crowder and Solomon Hill from the Grizzlies.
- 2/6/20 — Wayne Ellington trade exception ($6,270,000) expired.
- 2/6/20 — Signed Andre Iguodala to a two-year $30 million extension, team option on final season.
- Jimmy Butler — 15 percent
- Kelly Olynyk — five percent or the lesser of $2 million.
Note: Players can waive their trade bonuses.
Free Agents (with Cap Holds)
- Early Bird: Dwyane Wade ($1,620,564)
- Non-Bird: Luke Babbitt* ($1,620,564), Jordan Mickey* ($1,620,564)
* Cannot be used in a sign and trade because they were not active players in the NBA last season.
Unsigned Draft Picks
- First-rounders: None
- Second-rounders: Roberto Duenas (1997-58th), George Banks (1995-46th)
Arena: American Airlines Arena
For notes on some of the rules and an explanation of cap holds, please refer to the following Salary Notes.
Salary and team data change quite often. If you notice a discrepancy, please notify Basketball Insiders Senior Writer Eric Pincus.
(Updated on 7/1/20)