The Miami Heat have exercised their team option on Norris Cole's contract for the 2014-15 season, the Sun Sentinel's Ira Winderman reported.
The Heat had until the end of October to make a decision on the $2-million option for the third-year point guard out of Cleveland State. Cole has impressed in limited playing time over the last two seasons, including contributing in big playoff wins during the Heat's back-to-back championship campaigns.
Cole is scheduled to make just over $1 million this season before the one-year club option begins. https://twitter.com/IraHeatBeat/status/387685021101723649