Heat's cap situation becoming clearer, with Richardson opting in and Love intending to opt out

MIAMI — The Miami Heat’s salary-cap situation entering free agency is becoming clearer.

One day after guard Josh Richardson picked up the $3.1 million player option in his contract for next season to remain with the Heat, according to league sources, veteran center Kevin Love plans to opt out of the $4 million player option in his contract to become an unrestricted free agent ahead of Saturday’s deadline to make a decision.

But the hope from both sides is that Love will re-sign with the Heat in free agency, potentially on a cheaper minimum contract that would create more room under the second apron to help Miami re-sign some of its own free agents. Love, who turns 36 on Sept. 7, has made it clear in recent months that he wants to continue his Heat career and the Heat wants him back.

The Heat is still waiting on decisions from Caleb Martin ($7.1 million player option) and Thomas Bryant ($2.8 million player option) on their player options. They have until Saturday at 5 p.m. to make a decision on whether they want to stay with the Heat or become unrestricted free agents this offseason.

Love, who is preparing for his 17th NBA season, established himself as a reliable backup center for the Heat last regular season after making five NBA All-Star Game appearances and being named to the All-NBA Second Team two times earlier in his career. He averaged 8.8 points, 6.1 rebounds and 2.1 assists per game while shooting 34.4 percent on 4.4 three-point attempts per game in a bench role for the Heat this past regular season.

Per 36 minutes last regular season, Love averaged 18.9 points, 13.2 rebounds and 4.5 assists. It’s the most points he has averaged per 36 minutes since the 2021-22 season, most rebounds he has averaged per 36 minutes since the 2018-19 season and most assists he has averaged per 36 minutes in his NBA career.

The Heat outscored opponents by 6.5 points per 100 possessions with Love on the court during the regular season.

With Richardson opting in and Love opting out, the Heat’s current salary-cap breakdown includes nine players on guaranteed salaries for next season: Jimmy Butler ($48.8 million), Bam Adebayo ($34.8 million), Tyler Herro ($29 million), Terry Rozier ($24.9 million), Duncan Robinson ($19.4 million), Kel’el Ware ($4.2 million, hasn’t signed contract yet), Jaime Jaquez Jr. ($3.7 million), Richardson ($3.1 million) and Nikola Jovic ($2.5 million).

If the Heat signs second-round draft pick Pelle Larsson out of Arizona to a standard contract, he would become the 10th Heat player locked into a standard deal for next season. Miami could also sign Larsson a two-way contract.

But the Heat only has one of its three two-way contract slots open, after agreeing to two-way deals with Florida guard Zyon Pullin and Arizona forward Keshad Johnson on Thursday shortly after the completion of the NBA Draft. Pullin and Johnson went undrafted.

The Heat also announced Friday that it has extended qualifying offers to Cole Swider and Alondes Williams, making them restricted free agents and allowing the Heat to match outside offers. Swider and Williams, who both closed last regular season on two-way contracts with the Heat, are expected to play for the Heat’s summer league team this year.

The Heat did not extend a qualifying offer to Jamal Cain, who spent the last two seasons on a two-way contract with Miami. Cain was only eligible for a qualifying offer at the veteran minimum on a standard contract, which the Heat bypassed.

With no qualifying offer, Cain will become an unrestricted free agent this offseason and he’s not expected to return to the Heat.

Among the players from the Heat’s season-ending roster who will be free agents this summer are Cain (unrestricted free agent), Haywood Highsmith (unrestricted free agent), Love (unrestricted free agent), Patty Mills (unrestricted free agent), Cole Swider (restricted free agent), Alondes Williams (restricted free agent) and Delon Wright (unrestricted free agent).

NBA teams were allowed to begin negotiating with their own impending free agents on June 18 after the NBA Finals ended. But free agents can’t begin negotiating with outside teams until Sunday at 6 p.m. ET.

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