Heat decide against waiving and stretching Kyle Lowry, now focused on trading him

After considering multiple options with Kyle Lowry, the Heat has decided against one of them: waiving and stretching his contract. The Heat instead is now focused on using his salary in a trade for Damian Lillard or another potential deal, according to a league source.
Source: Miami Herald

What’s the buzz on Twitter?

Barry Jackson @flasportsbuzz
NEW: After considering waive-and-stretch provision, Heat has decided to bypass that option with Lowry and will either trade Kyle this summer or open season with him and see what develops at trade deadline. PLUS Strus, Lillard, more: miamiherald.com/sports/spt-col…5:03 PM
Barry Jackson @flasportsbuzz
Heat considering multiple options with Lowry; for now, they’ll wait to see if he’s needed in Lillard trade. Where things stand and what makes sense: miamiherald.com/sports/nba/mia…5:46 PM
NBA rumors: Suns tried to trade Deandre Ayton to Mavericks; Heat considering waiving Kyle Lowry
cbssports.com/nba/news/nba-r…12:44 PM
Barry Jackson @flasportsbuzz
NEW: Heat considering multiple options with Lowry contract; here’s a new one under consideration that has emerged. Where things stand and what makes sense: miamiherald.com/sports/nba/mia…10:44 AM
Barry Jackson @flasportsbuzz
If Blazers wants no part of Lowry or Robinson contracts, a package of Herro, Caleb, Jovic and Vic’s expiring contract (once he opts in for $9.5 million by Thursday), plus 3 first-round picks also would work. More Heat $ would be needed if Jurkic in deal.
miamiherald.com/sports/spt-col…3:06 PM
Jonathan Feigen @Jonathan_Feigen
Rockets rookie Amen Thompson to wear No. 1. Jabari Smith Jr. switched to his preferred No. 10 this off-season. Cam Whitmore will wear No. 7, most recently the number of David Wesley, Kyle Lowry, Jeremy Lin. Sam Decker, Isaiah Canaan, Carmelo Anthony, Joe Johnson, Victor Oladipo. – 1:32 PM

More on this storyline

Miami also is comfortable beginning next season with Lowry on the roster if he isn’t traded this summer. More trade opportunities could open before next February’s trade deadline. -via Miami Herald / June 28, 2023
Two people in contact with the Heat said Miami had considered using the waive-and-stretch provision on Lowry, which would have meant absorbing cap hits of $9.9 million each of the next three seasons instead of a $29.7 million hit on next year’s cap, should he remain with the team. But the Heat ultimately has decided against that, according to a source, in part because the $9.9 million cap hits in 2024-25 and 2025-26 would be burdensome. -via Miami Herald / June 28, 2023
Ideally, the Heat would like to be able to trade Lowry either in a Lillard package, or to a team that can absorb his salary and send Miami back a useful player earning significantly less – a scenario that would lower the Heat’s tax bill. But that second option might be difficult to pull off because a limited number of teams have the cap space to take back a lot more money than they send out. The Heat appreciates Lowry’s contributions during the playoffs and how professionally he handled himself when moved to a bench role. -via Miami Herald / June 28, 2023

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