Main Page
Tyler Herro’s $130 million contract bonuses with Heat revealed
On Monday, Miami Heat guard Tyler Herro signed a four-year contract extension with the team worth $130 million. According to sources, $120 million is fully guaranteed. But the deal also includes $10 million in incentives.
Tyler Herro’s contract incentives include $1 million for winning MVP, $1 million for winning Defensive Player of the Year, $1 million for earning an All-NBA First-Team selection, $1 million for receiving an All-NBA Second-Team selection, and $500,000 for earning an All-NBA Third-Team selection.
Per multiple NBA betting sites, the Heat have top-10 odds of winning a championship in 2023. Find out which sportsbooks are giving them the best odds of returning to the Eastern Conference Finals.
Tyler Herro's Incentives:
• $1M if he wins MVP
• $1M if he wins DPOY
• $1M if he earns All-NBA 1st Team
• $1M if he earns All-NBA 2nd Team
• $500K if he earns All-NBA 3rd Team*Must play in 75% of Regular Season Games
*Incentives are capped at a max of $2.5M per season— Anil Gogna (@AnilGognaNBA) October 4, 2022
Furthermore, the third-year guard must play in 75% of regular season games. Barring a major injury, Tyler Herro should have no problem appearing in 62 games. Plus, incentives are capped at $2.5 million per season.
While winning DPOY is a long shot, even if he wins the award and receives an All-NBA honor, the most he can earn in added bonuses each season is $2.5 million.
Tyler Herro’s $10 million in incentives with Heat are based on games played and All-NBA honors
It should also go without saying that if Herro wins MVP and DPOY in the same season, he’ll receive an All-NBA First-Team selection as well. The strange wording is based on salary cap regulations within the CBA.
Of course, Herro’s $5,722,116 team option was exercised for the 2022-23 season on September 3, 2021. This is part of the rookie scale contract he signed with the Heat in 2019.
Heat president Pat Riley released this statement on Herro’s multi-year deal: “Tyler is an impact multi-faceted player and we are excited to have him signed for the next 5 years. His improvement every year since we drafted him has led to this day. We believe he will continue to get better.”
Head coach Erik Spoelstra also commented on Herro’s re-signing. “It is gratifying for everybody involved,” said Spoelstra. “Everybody in our organization, for Tyler, his family, his representation.”
Last season, in 66 appearances, Tyler Herro averaged 20.7 points, 5 rebounds, and 4 assists per game. The third-year guard shot 44.7% from the field and 39.9% from 3-point range as well. He went on to win Sixth Man of the Year.
On October 23, 2021, in the Heat’s 102-91 loss against the Indiana Pacers, the guard became the first player in franchise history to record at least 30 points and 10 rebounds off the bench.
If Tyler Herro plays like he did last season, he’ll have no problem receiving at least a $1 million bonus in the 2022-23 season. Regardless, the guard’s future is set with the team.
Content You May Like
- Best NBA Betting Sites – Discover our list of the best sites to bet on NBA games.
- NBA Futures Betting – Find NBA futures odds, strategies and betting sites.
- Free Expert NBA Picks – Our NBA experts are sharing their daily betting picks and predictions.
- Best NBA Futures Bets – In-depth guide about NBA futures bets.
- NBA Betting Strategies – Learn the best strategies to bet on NBA.
- NBA Live Betting – Top rated NBA live betting sites and offers.
- Best Online Sportsbooks – We tested and reviewed the best US betting sites.
- Best Offshore Betting Sites – List of offshore betting sites with the best offers.
- Best Online Gambling Sites – We reviewed the best gambling sites to gamble online.
- NBA Draft Betting – Everything you need to know about NBA draft betting.
- NBA Teams – Read more about the NBA teams, their stats, rosters and salaries .
Add Basketball Insiders to your Google News Feed!
-
NBA 2 weeks ago
Kentavious Caldwell-Pope Is The Denver Nuggets’ Unsung Hero
-
NBA 2 weeks ago
NBA legend claims Kevin Durant actually saved the Warriors legacy from 2016 to 2018
-
Headlines 1 week ago
Nick Nurse “Pretty Confident,” in Joel Embiid Returning for NBA Playoffs
-
Main Page 6 days ago
Stephen Curry Hits 300th 3-Pointer of Season, Owns 5 of Top 7 Records