Tyler Herro was drafted by the Miami Heat in 2019 and has grown to become the starting guard for the Miami Heat and a crucial part of their championship aspirations. Herro had his breakout season in 2021-22, winning the NBA sixth man of the year award for the Heat as they finished #1 in the Eastern Conference. Following his explosion off the bench, he started all 67 games he participated in for the Miami Heat in 2023.
Tyler Herro’s rookie deal saw him earn an average salary of $4,297,209, which he more than lived up to by 2022, making an All-Rookie team and averaging over 15 points per game off the bench in three of his first four years. Herro has embraced Heat culture, becoming a fan favorite and having hip-hop stars like Jack Harlow dedicate rap songs to his name.
Herro has averaged over 20 points per game in his last two seasons, being a sharpshooter from three and adept at getting to the rim. He has shot 38% from three-point range for his career, which is above league average. His tremendous improvement over his career awarded him a 4 year / $120,000,000 contract with the Miami Heat, which runs until 2027.
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Tyler Herro current contract breakdown
Herro signed a contract until 2027, which will come into effect after 1 July 2023 and see him earn $33,000,000 guaranteed by the last year of his deal. The Miami Heat star’s annual average salary is $30,000,000, and in 2023-24, Herro will earn a base salary of $27,000,000. Herro, however, did get injured during the 2023 playoffs and has not been able to impact the Heat on their way to the 2023 NBA Finals.
The “poison pill clause” in the new contract is in place until July 1, 2023, the day the agreement becomes final. Players who sign extensions while their rookie contracts are still in effect are subject to that condition. Herro’s rookie deal lasts until the end of the 2023 season, and he already penned a new one during the 2022-23 season.
| CONTRACT:4 yr(s) / $120,000,000 | AVG. SALARY:$30,000,000 | GTD AT SIGN:$120,000,000 | SIGNED USING:Rookie Extension/Bird | FREE AGENT:2027 / UFA |
| YEAR | AGE | STATUS | BASE SALARY | LIKELY INCENT. | UNLIKELY INCENT. | TRADE BONUS | CAP HIT | PCT OF LEAGUE CAP | YEARLY CASH | GUARANTEED | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023-24 |  | 24 | $27,000,000 | – | $2,500,000 | – | $27,000,000 | 20.15% | $27,000,000($27,000,000) | $27,000,000 | |
| 2024-25 | | 25 | $29,000,000 | – | $2,500,000 | – | $29,000,000 | 20.28% | $29,000,000($56,000,000) | $29,000,000 | |
| 2025-26 | | 26 | $31,000,000 | – | $2,500,000 | – | $31,000,000 | 19.71% | $31,000,000($87,000,000) | $31,000,000 | |
| 2026-27 | | 27 | $33,000,000 | – | $2,500,000 | – | $33,000,000 | 19.07% | $33,000,000($120,000,000) | $33,000,000 |
Tyler Herro salary breakdown
This breakdown is as of the new contract extension Herro has signed for the 2023-24 season.
- Current Salary: 27,000,000
- Salary Per Month: $2,250,000
- Salary Per Week: $519,230
- Salary Per Game: $329,268 (assuming 82 games)
- Salary Per Quarter: $82,317 (assuming 12 minutes per quarter)
- Salary Per Minute: $6,859 (assuming 12 minutes per quarter)
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