The Heat carry a $209.1M payroll, above the $209.0M first apron and the $200.4M luxury tax line, though still under the $221.7M second apron. Giannis Antetokounmpo's $58.5M anchors the books, and options on Wiggins, Portis, Thompson and Larsson keep next season's number unsettled.
Over The Line
Miami's payroll is $209.1M, above the $209.0M first apron and the $200.4M luxury tax line. The second apron sits at $221.7M, so the roster is deep into apron territory but not yet at the hardest restrictions. The salary cap itself is $165.0M, a number this roster has been well above for years.
The Two Anchors
Giannis Antetokounmpo's $58.5M and Bam Adebayo's $49.8M account for more than half the books by themselves. Andrew Wiggins holds a $30.2M player option, Nikola Jovic is signed for $16.2M, and Bobby Portis is in at $14.5M. Every other salary on the roster trails well behind that top five.
Options Everywhere
Next season turns on decisions, not just numbers. Wiggins would earn $16.3M if his option is declined and he re-signs, Portis holds a $15.6M player option, Klay Thompson a $5.9M player option, Pelle Larsson a $13.4M team option, and Dru Smith a $2.9M team option. Giannis himself carries a $62.8M player option for 2027-28. Adebayo and Jovic are locked in at $53.8M and $14.9M with no opt-out attached.
Picks Owed
Miami owns its 2029 first-round pick outright, but a protected 2027 first and a conditional 2028 first both belong to Charlotte, with second-round swaps attached in 2027, 2029 and 2030 and a conditional 2028 second owed to Detroit. That is the collateral spent building this roster.
The Verdict
This is not a team built to shop in free agency. Above the first apron, Miami cannot aggregate contracts in trades or tap the full midlevel exception, and every option above keeps the real 2027-28 number a moving target. Spending stays tied to internal decisions, not outside additions.
Why are the Heat above the salary cap's first apron?
The payroll for the 15 contracts on the books totals $209.1M, above the $209.0M first apron, driven mainly by Giannis Antetokounmpo's $58.5M and Bam Adebayo's $49.8M salaries.
Which Heat players have options that could change next season's payroll?
Andrew Wiggins, Bobby Portis and Klay Thompson hold player options, Pelle Larsson and Dru Smith hold team options, and Giannis Antetokounmpo has a $62.8M player option for 2027-28.
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