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Miami Heat guard Tyler Herro — the 2022 NBA Sixth Man of the Year — has agreed to a four-year, $130 million contract extension, his agents, Jeff Schwartz and Mike Lindeman of Excel Sports, told ESPN on Sunday.
After averaging 20.7 points a season ago, Herro, 22, lands an annual salary worth over $30 million for his rookie scale extension ahead of the Oct. 17 deadline for members of the 2019 NBA draft class.
The deal includes $120 million guaranteed with incentives that can bring the contract to a full $130 million, sources said.
Herro — chosen 13th overall — is the sixth first-round player in the draft class to agree on a rookie extension. That list includes the top three picks: New Orleans‘ Zion Williamson, Memphis‘ Ja Morant and New York‘s RJ Barrett.
Herro is a cornerstone player for the Heat’s championship aspirations, joining Bam Adebayo and Jimmy Butler as $100 million-plus players on the Heat’s roster. Herro had eight 30-point games off the bench for the Heat last season, the most in a season for any player since Lou Williams in 2018-2019, according to ESPN Stats & Information research.
As a second-team All-NBA rookie in 2020, Herro had a memorable stretch in the NBA bubble during the Heat’s run to the Eastern Conference championship, scoring 335 points, fourth most by a rookie in the postseason, according to ESPN Stats & Information research.