Miami Heat and Bam Adebayo working on max extension this offseason. A look at what it means

The Miami Heat and All-Star center Bam Adebayo appear to be on their way to making another long-term commitment to each other.

According to league sources, there have been discussions between the Heat and Adebayo regarding a three-year maximum contract extension worth $166 million. Adebayo’s extension with the Heat, which could be signed starting on July 6, would begin in the 2026-27 season and run through the 2028-29 season when he’ll be 31 years old.

The hope is the extension will be agreed to this offseason, but a league source told the Miami Herald on Wednesday that it has not been finalized yet amid reports from the Associated Press and The Athletic that the Heat and Adebayo have reached an agreement on such a deal. The window for Adebayo to sign an extension with the Heat this offseason closes on Oct. 21 on the eve of the start of the 2024-25 NBA regular season.

The three-year extension would include salaries of $51.2 million in the 2026-27 season, $55.3 million in the 2027-28 season and $59.4 million in the 2028-29 season.

Adebayo, who turns 27 on July 18, has two seasons remaining on his current contract with the Heat. He’s set to be the second-highest paid player on the Heat’s roster for the next two seasons — $34.8 million salary for the upcoming season and $37.1 million salary for the 2025-26 season — before the extension begins in the 2026-27 season.

Signing an extension this summer would take Adebayo out of the running for a much more lucrative supermax extension next offseason that would be worth about $346.4 million over five years, according to Spotrac’s Keith Smith.

If Adebayo is looking for an opportunity to receive that bigger supermax contract, he could forgo signing an extension this offseason and instead wait until next offseason to sign one. To become eligible for a supermax extension next summer, Adebayo would need to either make an All-NBA team (first, second or third) this upcoming season, be named the NBA’s Defensive Player of the Year this upcoming season or be named the NBA MVP this upcoming season.

While Adebayo finished third in the Defensive Player of the Year voting and was one of 10 players around the league who received All-NBA votes but did not make an All-NBA team this past season, he wasn’t able to check any of the boxes necessary to qualify for a supermax extension this summer.

Even if Adebayo again didn’t qualify for a supermax next offseason, he would be able to sign a bigger max extension — worth $229.3 million over four years — than the one he’s eligible for without the supermax this offseason.

Adebayo, who will make his second appearance in the Olympics this summer as a member of Team USA, averaged 19.3 points, 10.4 rebounds, 3.9 assists, 1.1 steals and 0.9 blocks per game while shooting 52.1 percent from the field and providing his usual elite defense this past regular season.

Adebayo was one of only seven NBA players who averaged at least 19 points, 10 rebounds and three assists per game this regular season, along with Joel Embiid of the Philadelphia 76ers, Giannis Antetokounmpo of the Milwaukee Bucks, Nikola Jokic of the Denver Nuggets, Anthony Davis of the Los Angeles Lakers, Victor Wembanyama of the San Antonio Spurs and Domantas Sabonis of the Sacramento Kings.

In addition, Adebayo was named to the NBA’s All-Defensive First Team for the first time in his career this past season after being selected for the All-Defensive Second Team in each of the previous four seasons. Adebayo is the only player in franchise history to make one of the league’s All-Defensive teams in five different seasons while with the Heat.

Adebayo just finished his first season as the Heat’s captain. He has only played for the Heat since being drafted by Miami with the 14th overall pick in 2017.

The Heat also has a decision to make regarding an extension for Adebayo’s Heat co-star Jimmy Butler, who is eligible to sign a maximum two-year contract extension worth about $113 million starting on July 7. The window for the Heat to sign Butler to the two-year max extension closes next year on June 30, 2025.

Butler, who turns 35 on Sept. 14, entered this offseason hoping for that max extension prior to the start of the upcoming season. But with Butler under contract with the Heat on a $48.8 million salary for next season, he could instead play out the upcoming season with Miami and then decline a $52.4 million player option for the 2025-26 season to seek a max contract in free agency next year if there’s no extension from the Heat this offseason.

The Heat holds the No. 15 overall pick in the first round and No. 43 overall pick in the second round of this week’s NBA Draft. The first round is Wednesday and the second round is Thursday.

NBA teams were allowed to begin negotiating with their impending free agents and most extension-eligible players like Adebayo with the Heat on June 18 after the NBA Finals ended. But free agents can begin negotiating with teams around the league starting on Sunday at 6 p.m., with most free-agents signing and extensions like Adebayo’s not able to become official until July 6.