Heat Have Discussed Buying Out Terry Rozier’s Contract

The Miami Heat have reportedly discussed buying out the contract of Terry Rozier, according to Ira Winderman of the South Florida Sun-Sentinel. The 31-year-old is on the books for the upcoming season at $26.6 million, of which $24.9 million is guaranteed.

Winderman notes that if the Heat waive Rozier, they then would have the space needed under the luxury tax to add a replacement player at the veteran minimum.

“There have been discussions about a Rozier buyout, but those talks have not gained traction, without any outside options for the veteran guard at the moment, as Rozier remains linked to a federal gambling investigation,” Winderman wrote.

Terry Rozier Remains Under Federal Gambling Investigation

ESPN’s David Purdum reported in July that a professional bettor had placed 30 wagers in 46 minutes, all involving Rozier in a 2023 NBA game, according to documents obtained by the network.

On the morning of March 23, 2023, a bettor at a sportsbook in Biloxi, Mississippi, placed $13,759 in bets on the unders on Rozier’s statistics in a game between the Charlotte Hornets and New Orleans Pelicans.

All 30 bets won, after Rozier, who played with the Hornets at the time, exited 10 minutes into the game because of a foot injury. In all, at least six sportsbooks in multiple states detected suspicious betting on Rozier props that day.

According to Purdum, the majority of the betting activity occurred in Louisiana and Mississippi, per sources familiar with a report issued by U.S. Integrity.

No charges have been filed against Rozier at this time.

Heat Could Waive Rozier By Jan. 10

Miami also could open such tax space for another player by merely waiving Rozier by the NBA contract guarantee deadline of Jan. 10, when all contracts become guaranteed.

“However, if the Heat were to take such a wait-and-see approach with Rozier and the veteran guard were to be injured and sidelined for the season, his full $26.6 million would be guaranteed,” Winderman added.

The Heat were at one point considering waiving and stretching Rozier’s contract.

In doing so, it would reduce his cap hit from the $26.7 million he’s owed this upcoming season in the final year of his contract to an $8.9 million cap hit in each of the next three seasons.

But Miami’s front office opted to avoid that route, as the stretch provision would have forced Rozier’s salary to remain on the Heat’s books beyond the initially scheduled year.

Because Miami has already finished as a luxury tax team in each of the past two seasons, the club is working toward avoiding the luxury tax for this upcoming campaign to prevent penalties.

NBA teams are allowed to carry up to 21 players during the offseason and preseason, including up to three two-way players. Miami has a total of 17 players signed to contracts.

The Heat open their preseason Oct. 4 against the Orlando Magic in Puerto Rico, while their regular season begins Oct. 22 in Orlando.