Max Cap Room
$14.1 million Non-Taxpayer Mid-Level Exception

$5.1 Bi-Annual Exception

Potential Free Agents

• Terry Rozier ($26.6 million salary only $24.9 million guaranteed)

• Duncan Robinson ($20.7 million early termination option half-guaranteed, Full Bird Rights, Unrestricted)

• Davion Mitchell ($19.3 million cap hold, $8 million Qualifying Offer, Full Bird Rights, Restricted)

• Alec Burks ($2.3 million cap hold, Non-Bird Rights, Unrestricted)

• Pelle Larsson ($2 million salary only half guaranteed)

• Keshad Johnson ($2 million team option, Non-Bird Rights, Restricted)

Summary
The Heat technically could have a little cap space, but only if they stretch the partially-guaranteed salaries of Rozier and Robinson. Therefore, it's most likely that they operate over the cap.

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If Robinson is waived (but not stretched), the Heat would likely have enough room below the luxury tax and first apron to use the full $14.1 million MLE and the $5.1 million BAE to add talent, although re-signing Mitchell could make that a tight fit. 

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If Robinson is not waived, the Heat would not have enough room below the first apron to use the full MLE and BAE, and instead would only have the $5.7 million Taxpayer MLE to add talent.

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Potential Free Agency Targets

Power Forward / Center Combo

• Trendon Watford

• Jeff Green

• Guershon Yabusele

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Two-Way Wings

• Taurean Prince

• Gary Trent Jr.

• Dorian Finney-Smith

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Guards

• Aaron Holiday

• Russell Westbrook

• Chris Paul