Heat in serious talks to acquire Wizards guard Bradley Beal. Suns also bidding

The Miami Heat is in advanced talks with the Washington Wizards regarding a trade for three-time All-Star guard Bradley Beal, according to league sources.

The Heat’s offer to the Wizards is believed to be built around the expiring contract of guard Kyle Lowry and could also include either Duncan Robinson or Victor Oladipo to help fulfill the salary-cap matching component of the deal. The Heat is also expected to include at least one first-round pick in its package.

The Heat is believed to prefer a Lowry/Robinson package; that likely would result in a much lower luxury tax bill in 2024-25 and 2025-26 than a Lowry/Oladipo package.

The Heat has this year’s first-round pick at No. 18 and either its 2028 or 2029 first-round pick currently available to trade. The Heat would have its first-round selections from this year, 2028 and 2030 available to deal if it waits until after Thursday’s NBA Draft to complete the trade, as it would pick a player for the Wizards at No. 18 in this scenario.

The Heat is working to complete the trade for Beal without including guard Tyler Herro, who is entering the first year of a four-year, $130 million extension that he signed with Miami last September.

The Athletic reported that the Phoenix Suns and the Heat are the two finalists for Beal, who is the only player in the NBA with a full no-trade clause.

The Wizards aren’t expected to receive the massive return that trading for Beal would have necessitated a few years ago. Along with Beal’s no-trade clause, he’s entering the second season of a big five-year, $251 million contract that has him on track to be the sixth-highest paid player in the league next season.

The Wizards are prioritizing the flexibility of short-term contracts along with draft picks in a Beal trade.

Under the new collective bargaining agreement, teams with a payroll of $7 million or more above the $162 million luxury tax threshold (known as the first apron) cannot take back salaries that exceed 110 percent of what they’re trading out.

But teams over the first apron (which the is Heat is projected to be) can take back salaries of as much as 125 percent of what they trade out before July 1.

In other words, the Heat only needs to include at least about $34.5 million of salaries in a trade for Beal if it’s completed by the end of June. Starting July 1, the Heat would need to include at least about $42.5 million of salaries in a trade for Beal.

So even though Lowry and Oladipo are due to make $39.2 million combined next season, compared with $46.7 million for Beal, that three-player trade could be executed before July 1 and satisfy cap rules.

Oladipo has until June 29 to exercise his $9.5 million player option for next season. He’s expected to opt in to that salary after sustaining a serious knee injury in the playoffs that’s expected to sideline him into January or beyond.

A deal involving Lowry and Robinson (due $18.1 million) would satisfy cap rules before or after July 1.

While Lowry and Oladipo are entering the final seasons of their contracts, Robinson has three years and $57.3 million remaining on his deal, of which $47.3 million is guaranteed.

The Heat has had multiple conversations with Beal’s representation and conveyed serious interest during those conversations, according to a source.

Beal, who has not asked for a trade, would welcome a trade to the Heat but he’s also open to being moved to more than a handful of teams. The franchise’s ability to compete for a championship ranks highly among the important criteria for him.

Beal also would be receptive to a trade to the Phoenix Suns, who also have emerged as a serious suitor. A Suns offer could be built around Chris Paul’s team-friendly contract. Paul has two years remaining on four-year, $120 million deal, but only $15.8 million of that is guaranteed for 2023-24 and no money is guaranteed for 2024-25. So a team acquiring Paul could waive him by June 28 and save $15 million.

Besides Paul, a Suns offer also could include Landry Shamet, who’s due $33 million over the next three seasons, but only $10.2 million of that money is guaranteed.

Center DeAndre Ayton also could be a component in a Beal-Phoenix deal, with a third team potentially involved in that scenario.

Unlike the Heat, the Suns have no first-round picks that can be offered in trades. But the Suns could offer a more attractive financial package than Miami’s.

Paul and Shamet are owed a combined $41 million guaranteed in the future. Conversely, Lowry/Robinson are due $87 million guaranteed and Lowry/Oladipo are due $39.2 million guaranteed.

As for Beal, he’s due $46.7 million, $50.2 million, $53.7 million and $57.1 million through the next four years, and his contract also includes a 15 percent trade kicker.

Beal, 29, averaged 23.2 points and 33.5 minutes per game last season, while shooting a career-high 50.6 percent from the field and 36.5 percent on three-pointers. He was limited to 50 games because of several injuries.

For his career, Beal has averaged 22.1 points — including back-to-back seasons of 30.5 points and 31.3 points in 2019-20 and 2020-21. He was named an All-Star in 2018, 2019 and 2021, and was selected for the All-NBA Third Team in 2021.

But Beal has missed considerable time with injuries in recent years, appearing in 60, 40 and 50 games the past three seasons. He missed time last season with multiple injuries, including a pulled hamstring and left knee soreness.

Beal’s no trade clause would carry over to his new team.

Keeping Herro out of a trade for Beal allows the Heat to either keep Herro, moving forward with a Beal-Herro backcourt, or trade Herro for a starting caliber power forward or potentially, point guard Damian Lillard, if he asks the Portland Trail Blazers to trade him.

Lillard has not asked the Trail Blazers to trade him but has said that the Heat interests him if he does ask for a trade. Portland is working on trying to add talent to convince Lillard to stay.

Acquiring Beal for a package built around Lowry would not significantly affect Miami’s payroll and luxury tax bill in 2022-23, but would significantly increase both in 2023-24, unless the Heat can trade Herro for a player earning significantly less.

In addition to the picks the Heat already has available to trade, it could unlock its 2027 first-round pick to include in a trade by lifting the lottery protections on the 2025 selection it owes the Oklahoma City Thunder.

If the Heat includes the 18th overall pick in Thursday’s draft as part of a Beal trade, Miami can still make available as many as three first-round picks to use in another trade if the Thunder agrees to accept an unconditional 2026 first-round pick and as opposed to a conditional 2025 pick.

In that scenario, the Heat could send the 18th pick to Washington in Thursday’s draft, and then could trade its first-round picks in 2024, 2028 and 2030 -- if it chooses -- after the draft if another star player of interest to Miami becomes available. Herro, by not being included in a Beal package, also would remain in play in such a trade.

Besides Beal and Lillard, other names who have mentioned in trade discussions around the league include Chicago guard Zach LaVine, New Orleans Pelicans power forward Zion Williamson and Minnesota forward Karl Anthony-Towns.

But Lillard is not currently available and ESPN’s Adrian Wojnarowski reported that WIlliamson is not expected to be traded. The Timberwolves do not appear to be shopping Anthony-Towns. And if the Heat lands Beal, there would be no need for LaVine.

The Heat, over the next two weeks, also must make decisions on impending free agents Gabe Vincent, Max Strus, Kevin Love and Cody Zeller and restricted free agent Omer Yurtseven.

Re-signing Vincent or Strus would dramatically increase the Heat’s luxury tax bill. The Heat can sign Love to as much as $3.8 million for next season. Miami would maintain the right to match any offer for Yurtseven if it extends him a $2.3 million qualifying offer by the end of June.