The Miami Heat and All-Star center Bam Adebayo have agreed on a maximum rookie-scale extension, the Sun Sentinel has confirmed through an NBA source. The five-year agreement that would kick in for the 2021-22 season and would run five years, worth potentially close to $200 million.
The Heat had a Dec. 21 deadline to finalize such an agreement, the day before the scheduled start of the pandemic-delayed 2020-21 season, with the agreement instead reached Tuesday.
Adebayo likely stood as the last remaining player in line for a maximum extension this offseason. Already having received and accepted such extensions were Sacramento Kings guard De'Aaron Fox, Utah Jazz guard Donovan Mitchell and Boston Celtics forward Jayson Tatum.
Adebayo was selected No. 14 in the 2017 NBA draft, one pick ahead of Mitchell.
Adebayo's extension would call for a $163 million contract, one that could reach as high as $195.6 million if Adebayo is named to a 2021 All-NBA team or is named Defensive Player of the Year or Most Valuable Player.
Whether the Heat would extend such an offer had been in question, with each of the team's offseason signings to this point focused on maximizing salary-cap space for the 2021 offseason, when Giannis Antetokounmpo, Kawhi Leonard, Paul George, Victor Oladipo, Kyle Lowry and LeBron James, among others, could become free agents.
The Heat, however, still plan to move forward, at least at the moment, with intentions of maximizing 2021-22 salary cap space.
Heat president Pat Riley made clear that satisfying Adebayo would be a priority, but was less clear on the timing.
"We value Bam Adebayo. He's an All-Star. And he's young. And he's great. And we're going to do what is in his best interest," he said. "That is what I think we have to do. And that is our approach."
Riley continued, "We love Bam. He's a cornerstone to our franchise and it would be in our best interest to make sure we do the right thing with him."
Without an offer, or without accepting such an offer, Adebayo would become a restricted free agent in the 2021 offseason.
Because Adebayo's smaller $15.3 million 2021-22 salary-cap hold will be replaced by at least a $28.1 million salary for Adebayo in 2021-22, it will reduce the Heat's 2021 offseason spending power by $13 million to $18 million. Adebayo's 2021-22 salary could be as high as $33.7 million if he meets the supermax qualifications.
Curiously, in adding free agents Maurice Harkless and Avery Bradley, the Heat also gave themselves the ability to operate above the salary cap next summer more easily, by retaining their $3.8 million biannual salary-cap exception for the 2021-22 season.
The intrigue with Adebayo is that he shares the same agent as Antetokounmpo, who also is eligible for a max-tier extension over the next month.
Adebayo is due $5.1 for the coming season, the final year on his rookie contract.
The extension protects Adebayo against future injury, with such a deal fully insured.
The Heat demonstrated in the 2019 offseason an ability to maximize free agency in the lack of salary-cap space, when they added Jimmy Butler. Such also could be the approach next offseason, with the Heat utilizing a combination of salary-cap space and assets already on the payroll.
With Adebayo locked in, the Heat also could expedite a rebuild by the coming season's trading deadline, with many eyes on Washington Wizards guard Bradley Beal.
Adebayo on Tuesday was scheduled to host his third-annual Thanksgiving Food Drive, to provide a Thanksgiving dinner to over 1,750 individuals from the Liberty City area. The drive-through event, due to COVID precautions, provides a prepackaged meal that included a turkey and Thanksgiving fixings to feed a family of five.
