The Heat’s salary cap becomes clearer: Richardson wants to join, Love wants to leave

The Miami Heat’s salary cap situation entering free agency is becoming clearer.

A day after guard Josh Richardson exercised the $3.1 million player option included in his contract to remain with the Heat for next season, veteran center Kevin Love plans to exercise the $4 million player option included in his contract and become an unrestricted free agent before Saturday’s decision deadline, according to league sources.

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But both sides are hoping Love will sign with the Heat as a free agent, possibly on a cheaper minimum contract that would create more space under the second apron to help Miami re-sign some of its own free agents. Love, who turns 36 on Sept. 7, has made it clear in recent months that he wants to continue his career with the Heat and the Heat want him back.

The Heat are still awaiting decisions from Caleb Martin ($7.1 million player option) and Thomas Bryant ($2.8 million player option) on their player options. They have until Saturday at 5 p.m. to make a decision on whether they want to stay with the Heat or become unrestricted free agents this offseason.

Love, who is preparing for his 17th NBA season, established himself as a reliable backup center for the Heat last regular season, having appeared in the NBA All-Star Game five times and being named to the All-NBA Second Team twice earlier in his career. As a backup for the Heat last regular season, he averaged 8.8 points, 6.1 rebounds and 2.1 assists per game, hitting 34.4 percent of his 4.4 three-point attempts per game.

In 36 minutes last regular season, Love averaged 18.9 points, 13.2 rebounds and 4.5 assists, the most points he has averaged per 36 minutes since the 2021-22 season, the most rebounds he has averaged per 36 minutes since the 2018-19 season and the most assists he has averaged per 36 minutes in his NBA career.

With Love on the court, the Heat scored 6.5 more points per 100 possessions than their opponents during the regular season.

With Richardson in and Love out, the Heat’s current salary cap includes nine players with guaranteed salary for next season: Jimmy Butler ($48.8 million), Bam Adebayo ($34.8 million), Tyler Herro ($29 million), Terry Rozier ($24.9 million), Duncan Robinson ($19.4 million), Kel’el Ware ($4.2 million, not yet signed), Jaime Jaquez Jr. ($3.7 million), Richardson ($3.1 million) and Nikola Jovic ($2.5 million).

If the Heat sign second-round draft pick Pelle Larsson from Arizona to a standard contract, he would be the 10th Heat player to receive a standard contract for next season. Miami could also give Larsson a two-way contract.

But the Heat have only one of their three two-way contract spots open after agreeing to two-way deals with Florida guard Zyon Pullin and Arizona forward Keshad Johnson on Thursday, shortly after the NBA Draft concluded. Pullin and Johnson were not drafted.

The Heat also announced Friday that they have extended qualifying offers to Cole Swider and Alondes Williams, making them restricted free agents and allowing the Heat to undercut outside offers. Swider and Williams, who both finished last regular season on two-way contracts with the Heat, are expected to play for the Heat’s summer league team this year.

The Heat did not extend a qualifying offer to Jamal Cain, who spent the last two seasons with Miami on a two-way contract. Cain was only eligible for a qualifying offer at the veteran minimum of a standard contract, which the Heat did not accept.

Because he does not have a qualifying offer, Cain will become an unrestricted free agent in the offseason and is not expected to return to the Heat.

Players from the Heat’s roster at the end of the season who will be free agents this summer include Cain (unrestricted free agent), Haywood Highsmith (unrestricted free agent), Love (unrestricted free agent), Patty Mills (unrestricted free agent), Cole Swider (restricted free agent), Alondes Williams (restricted free agent) and Delon Wright (unrestricted free agent).

NBA teams were allowed to negotiate with their own pending free agents on June 18, after the NBA Finals concluded. However, free agents are not allowed to negotiate with outside teams until Sunday at 6 p.m.