Miami Heat

Acquired Giannis Antetokounmpo and Bobby Portis in a blockbuster deal, creating a dominant frontcourt alongside Bam Adebayo — then finished the roster with a late-August flourish: Klay Thompson (2yr/~$13M via the MLE after his Dallas buyout) brings elite movement shooting, and Nick Richards adds the rim-running interior depth they'd hunted all summer. Extended Andrew Wiggins (3yr/$64M) and retained Fontecchio and Hardaway for the perimeter. Missed on DeRozan and Beal, but the Giannis-Bam-Klay veteran core with Heat Culture role players is a legitimate championship contender — top-heavy, but complete. Pelle Larsson's 4yr/$60M extension (Sep 18) is a $15M-AAV bet on the Swedish wing's two-way growth from 2027-28.

Used the bi-annual exception (Fontecchio) and MLE (Klay Thompson) — team salary cannot exceed $209.0M at any point this season.

2026-27 figures verified against Spotrac and HoopsRumors reporting. View full cap sheet on the Salary Cap page.