The Miami Heat appear unlikely to use the waive-and-stretch provision before Friday’s 5 p.m. deadline, according to a report from Anthony Chiang of the Miami Herald.
The provision allows teams to waive a player and spread the remaining salary across the cap for twice the number of years left on the contract, plus one. It is a mechanism often used to create immediate cap flexibility, but Miami is expected to keep its current commitments intact.
The Heat’s financial approach comes after a turbulent 2024–25 campaign, where the franchise finished below .500 for the first time since 2018–19. Despite the struggles, Miami reached the playoffs as the No. 10 seed, advancing through the Play-In Tournament before being swept in the first round by the Cleveland Cavaliers.
With Jimmy Butler now in Golden State following a February trade, Miami is restructuring around Bam Adebayo and Tyler Herro, while adding new pieces such as Andrew Wiggins, Norman Powell, and rookie guard Kasparas Jakucionis.
Using waive-and-stretch could have opened room to maneuver in free agency or trades, but it would also extend dead money across multiple years. Instead, the Heat seem prepared to navigate the season with their current financial structure, avoiding the long-term hit.
Miami’s offseason included the addition of Simone Fontecchio and Powell via trades, plus the re-signing of guard Davion Mitchell. The front office also moved Duncan Robinson and Kevin Love, signaling a transition toward a younger core with greater flexibility moving forward.
The decision not to stretch a contract keeps Miami’s salary sheet cleaner in future years, especially as the league’s new collective bargaining agreement penalizes teams heavily above the luxury tax thresholds.
