The Miami Heat's smart salary strategy has become clear

We will see how the Miami Heat's new roster fits together on the floor, starting September 29 in Boca Raton when the team convenes for training camp in Boca Raton.

But it's already apparent how the front office is trying to make the financial elements fit off of it, especially in light of the extensions given to Andrew Wiggins and most recently Pelle Larsson.

The Heat are back in their comfort zone -- confusing new collective bargaining agreements and all -- in terms of the way their salary sheet is starting to look, for the upcoming 2026-27 season, but more notably for the seasons that will follow.

Just as during back in the Big Three era (2010-14) of LeBron James, Dwyane Wade and Chris Bosh, the idea is to stack the top of the sheet with maximum contracts for those the organization is certain will fulfill them; before a precipitious drop to the next round of players, all on manageable, potentially tradeable deals; and then another significant drop before a combination of late-career but still-useful veterans and prove-it projects.

The difference between now and the Big Three days, of course, is that there are just two players at the top (Giannis Antetokounmpo and Bam Adebayo), scheduled to make $116 million between them this season, with Giannis due another max extension that will certainly be granted and will increase his share even more. (The third-highest salary for this season, Wiggins's $30 million, will be cut nearly in half for 2027-28 after Wiggins opted in but then took two lower-paid years).

And the overall dollars are higher than then, because of salary inflation as the salary cap and luxury tax (and apron) limits have risen with the rise in NBA television revenue.

Here's what the Heat did this offseason:

* Got a top-5 player
* Got two elite shooters for 60% cost of 1 they lost
* Extended starting SF w/ future cap flexibility
* Extended core rotation/role player with upside
* Drafted a second rounder with chance to play early

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So, in 2027-28, Wiggins's salary will actually dip from somewhere reasonably close to that Giannis-Bam tier (borderline third star money) to the significantly lower second tier at $16 million, in the $12 million to $19 million range that is generally reserved for low-end starters and other proven rotation players. Which should make his contract good value, even if he's in his early 30s.

Wiggins's extension, which was questioned by many Heat fans at the time, allowed the Heat to give what he was giving up (about $14 million) in the second year, to Larsson -- and even as Larsson's contract starts at around that number in 2027-28 and rises slightly in the three years from there (including a player option), that still represents solid value for him also.

Larsson will no longer be the bargain that he will be this season, when he's still on a second-rounder's rookie deal, but now the Heat can accommodate him going forward as he continues growing into a key role on a possible contender.

The Heat will essentially be getting Wiggins and Larsson in 2027-28 what they are getting Wiggins alone for in 2026-27.

That makes something else possible: extending Davion Mitchell beyond the extension of his current deal (two years at $12 million each, with this being the second year). And doing so at a slighly higher price to reward the point guard's development, without seriously damaging their books, and entering into unwanted tax and apron territory.

If so, they could have Wiggins, Larsson, Mitchell, Nikola Jovic (more on that in a minute) and Bobby Portis Jr. (if he opts in, and isn't convinced by the Heat to opt out for more years at less money).... all in that $12 million to $19 million range.

That makes all of them possible trade chips as well, should the Heat need a salary or two to complete a deal for the third star to put at the top of the marquee, and the salary sheet. And they still can try to bring back Klay Thompson (he has a player option after this season, but may opt out) and/or Tim Hardaway Jr. to ensure they have one premium shooter on the squad past this season.

The one caveat

Jovic is the only deal that doesn't look ideal, coming off a season in which his health, confidence and production were unreliable -- but Heat officials do not believe him to be unsalvageable. He's just 23, continues to grow into his body, and did perform well with Serbia this summer. He just needs the right role and mindset and, if he can beat out Simone Fontecchio and others for a rotation spot, could be an X-Factor for a group that is leaning into frontcourt playmaking.

But even if he doesn't, it's not disastrous. Other rivals have worse contracts at more money on their books -- and the Heat were wasting a lot more on the suspended Terry Rozier and the always-injured Tyler Herro last season.

What would have been disastrous?

Extending good-but-not-great players like Herro at roughly three times what Larsson just got, or giving older-ornery-stars like Jimmy Butler what he wanted, which was about what Giannis will make now, or extending someone with a questionable motor like the since-traded Kel'el Ware... as it once did with Hassan Whiteside.

Miami has gone back to its tried and true Pat Riley roots -- build around the proven elite, and put the salary burden on their backs, with others filling in the gaps.

And with Andy Elisburg deftly navigating the CBA as it now stands, the Heat have operated wisely all offseason, and created a comfortable structure, with a clear pecking order and plenty of flexibility for the future.

Now, the Heat can start to cash in.

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