Heat trade deadline tracker: After acquiring Rozier, is another move coming? Olynyk off board

Welcome to trade deadline day!

As today’s 3 p.m. NBA trade deadline looms, will the Heat make another move?

The Heat already acquired guard Terry Rozier in a trade with the Charlotte Hornets on Jan. 23. The Heat sent guard Kyle Lowry and a lottery-protected first-round pick to the Hornets to add Rozier.

But will the Heat, which entered Thursday in seventh place in the Eastern Conference, look to shake things up even more? We’ll have live updates for you on the Heat’s doings here throughout the day:

3 p.m.: The Heat did not make a trade before today’s deadline. It’s now official. The Heat will explore the buyout market but isn’t eligible to sign any players who were making $12.4 million or more this season, a group that includes Spencer Dinwiddie and Joe Harris.

1:40 p.m.: The Milwaukee Bucks, who have been a bottom third defensive team all season, added defensive pest Patrick Beverley in a trade with Philadelphia. The 76ers get a different point guard, Cam Payne, and a second-round pick in exchange.

The 76ers could pursue Kyle Lowry in the buyout market if Charlotte and Lowry agree to a buyout, as expected. Lowry was born in Philadelphia, went to college at Villanova and still spends times in the area.

1:10 p.m.: Brooklyn made its second move of the day, dealing Royce O’Neale to Phoenix for three second round picks and other assets, per The Athletic. The Suns, who were looking to bolster this bench, also added Memphis’ David Roddy in the three-team deal.

1:10 p.m.: Forward P.J. Washington, a player linked to the Heat at times in the past, was dealt to Dallas as part of a package that sends Grant Williams to Charlotte.

Williams famously trash-talked in Jimmy Butler’s face before Butler went on a scoring binge in last year’s Eastern Conference finals. He was subsequently traded to Dallas, where his play was uneven.

Charlotte receives Williams, Seth Curry and a first-round pick in exchange for Washington.

12:50 p.m.: Two teams just outside play-in seeding - the Nets and Raptors - flipped guards and forwards, with Toronto acquiring guards Dennis Smith Jr. and Spencer Dinwiddie and Brooklyn landing point guard Dennis Schroder and forward Thad Young.

The Nets entered the day 11th in the East and the Raptors are 12th.

Smith and Dinwiddie had been considered potential Heat possibilities if Miami hadn’t acquired Rozier.

11:25 a.m.: The Knicks continued to add to their roster on Thursday, agreeing to trade Quentin Grimes, Evan Fournier, Malachi Flynn, Ryan Arcidiacono and two second-round picks to the Detroit Pistons to acquire Bojan Bogdanovic and Alec Burks, according to ESPN.

The Knicks have added Anunoby, Burks, Precious Achiuwa and Bogdanovic via trades in recent weeks.

11 a.m.: A name that has been linked to the Heat, center Kelly Olynyk, is off the board.

The Utah Jazz traded Olynyk and Ochai Agbaji to the Toronto Raptors for Kira Lewis, Otto Porter Jr. and a 2024 first-round pick, according to multiple reports.

Olynyk is on an expiring contract worth $12.2 million and would be legible to sign with the Heat if he agrees to a buyout with the Raptors. But there’s currently no indication that a buyout is a possibility after the Raptors traded for Olynyk.

Because the Heat’s salary-cap commitments puts it above the first apron, it cannot sign any released player with a pre-waiver salary of more than $12.4 million this season. That limits the Heat’s buyout market options.

10:30 a.m.: Contenders around the Eastern Conference are active ahead of Thursday’s deadline.

In the wake of losing All-Star center Joel Embiid for an extended stretch because of a knee injury, the Philadelphia 76ers acquired Buddy Hield in a trade with the Indiana Pacers on Thursday, according to multiple reports. The 76ers sent out Marcus Morris, Furkan Korkmaz and three second-round picks to land Hield.

In addition, the Boston Celtics added Xavier Tillman in a trade with the Memphis Grizzlies on Wednesday to bolster their frontcourt depth. The Celtics dealt Lamar Stevens and two second-round picks to the Grizzlies to get that deal done.

And last month, the Pacers acquired two-time All-Star forward Pascal Siakam and the New York Knicks landed OG Anunoby in trades.

The 76ers, Celtics, Pacers and Knicks are all currently ahead of the Heat in the East standings.

10 a.m.: As of Wednesday night, things were relatively quiet on the trade front for the Heat, according to multiple sources.

With the NBA only allowing teams to deal picks up to seven drafts into the future and not allowing teams to be without consecutive future first-round picks, the only unprotected first-round selection the Heat is currently eligible to trade is in 2030.

The Heat has up to three second-round picks it can include in a deal, but only one that’s not tied up in other deals and doesn’t have any conditions attached to it. That’s the Los Angeles Lakers’ 2026 second-round selection that the Heat acquired from the Cleveland Cavaliers in the Max Strus sign-and-trade deal this past offseason.

Otherwise, the Heat can trade a conditional 2024 second-round pick of its own that is protected if it is beyond No. 50 and/or a 2027 second-round pick that is the least favorable of a second-round selection in that draft among those held by the Heat, San Antonio Spurs, Oklahoma City, Houston Rockets and Indiana Pacers.

The Heat is also eligible to send out as much as $7 million to help facilitate a trade.