After dumping a lot of salary in their trade with Memphis, the Heat stand to have close to $27 million in cap space. With 2021 aspirations in mind, any potential signing will likely be limited to a one-year deal. They could also opt to operate over the cap to re-sign Goran Dragic, Jae Crowder, and have the full nontaxpayer mid-level exception. Regardless of cap situation, look for them to re-sign Derrick Jones Jr., whom they have full Bird rights for, to a long-term deal.
Key: Not Guaranteed / Team Option / Player Option / Cap Hold / Dead Money
2020/21 season
| Jimmy Butler | $34,379,100 |
| Andre Iguodala | $15,000,000 |
| Bam Adebayo | $5,115,492 |
| Tyler Herro | $3,822,240 |
| KZ Okpala | $1,517,981 |
| Chris Silva | $1,517,981 |
| Kendrick Nunn | $1,663,861 |
| Duncan Robinson | $1,663,861 |
| Kelly Olynyk | $13,598,243 |
| Kyle Alexander | $1,549,812 |
| Gabe Vincent | $1,549,812 |
| Goran Dragic | $28,826,850 |
| Solomon Hill | $19,888,172 |
| Meyers Leonard | $16,929,774 |
| Jae Crowder | $11,723,300 |
| Udonis Haslem | $1,731,372 |
| Derrick Jones | $1,663,381 |
| Ryan Anderson | $5,214,583 |
| AJ Hammons | $350,087 |
| FIRST-ROUND PICKS | $2,407,440 |
| ROSTER SPACE | $1,893,086 |
| CAP SPACE | $14,469,364 |
| CAP SPACE WITHOUT HOLDS | $100,739,277 |
| TAX SITUATION | -$55,156,571 |
2021/22 season
| Jimmy Butler | $36,016,200 |
| Tyler Herro | $4,004,280 |
| KZ Okpala | $1,782,621 |
| Andre Iguodala | $15,000,000 |
| Chris Silva | $1,782,621 |
| Bam Adebayo | $12,788,730 |
| Kendrick Nunn | $2,122,822 |
| Duncan Robinson | $2,122,822 |
| Kelly Olynyk | $18,285,000 |
| Ryan Anderson | $5,214,583 |
| ROSTER SPACE | $8,230,800 |
| CAP SPACE | $50,934,521 |
| CAP SPACE WITHOUT HOLDS | $86,253,895 |
| TAX SITUATION | -$102,199,695 |
2022/23 season
| Tyler Herro | $5,722,116 |
| Jimmy Butler | $37,653,300 |
| KZ Okpala | $3,386,980 |
| Chris Silva | $2,228,276 |
| Andre Iguodala | $22,500,000 |
| FIRST-ROUND PICKS | $2,747,760 |
| ROSTER SPACE | $10,802,930 |
| CAP SPACE | $109,748,918 |
| CAP SPACE WITHOUT HOLDS | $140,611,934 |
| TAX SITUATION | -$152,827,884 |
