Heat's Updated Salary Cap After Bam Adebayo's Rumored $166M Max Contract Extension
June 26, 2024
The Miami Heat agreed to a three-year maximum contract extension worth $166 million with Bam Adebayo on Wednesday, according to Shams Charania of The Athletic.
Shams Charania @ShamsCharaniaThe Miami Heat and Bam Adebayo – a three-time All-Star and three-time All-Defensive player – intend to reach a three-year, $166 million maximum contract extension, sources tell <a href="https://twitter.com/TheAthletic?ref_src=twsrc%5Etfw">@TheAthletic</a> <a href="https://twitter.com/Stadium?ref_src=twsrc%5Etfw">@Stadium</a>. Heat expect to lock in their cornerstone center through the 2028-29 season. <a href="https://t.co/r8K8P6nyRE">pic.twitter.com/r8K8P6nyRE</a>
Per Charania, Adebayo is now under contract through the 2028-29 season. The 26-year-old was named to the 2024 All-Defensive First Team after earning his second consecutive All-Star nod.
With Adebayo's new extension expected to begin after the 2025-26 season, Miami still has just over $205.2 million in total cap allocations during the 2024 offseason (via Spotrac).
Per Spotrac, Adebayo is expected to carry cap hits of $51.1 million during the 2026-27 season, $55.2 million during the 2027-28 season, and $59.3 million throughout his 2028-29 campaign. He'll account for roughly 28.76 percent of the cap in the final year of his new contract.
The extension announcement doesn't come as a large surprise, as HoopsHype's Michael Scotto reported on Monday that the Heat were "expected" to have contract discussions with Adebayo.
The former first-round pick has anchored Miami's defense since he became a full-time starter in his third season, helping the team earn multiple appearances in the NBA Finals. During his 2023-24 campaign, Adebayo averaged 19.3 points and 10.4 rebounds per game while shooting 52.1 percent from the field.
He also started to expand his range, connecting on a modest 35.7 percent of his 42 three-point attempts.
Heat team president Pat Riley was impressed with Adebayo's improvements when speaking to reporters at the end of Miami's season.
"Bam's growth from his rookie year to what he is right now has been off the charts," Riley said. "Everybody knows what his game is, what he does for us, how important he is in a lot of areas. And so he has to expand his game also. He's an all-NBA player and we're happy to have him."
After spending the first seven years of his career with the Heat, Adebayo will be remaining in Miami for the foreseeable future.
