Heat trade Kyle Lowry, 2027 first-round draft pick to Hornets for Terry Rozier

The Miami Heat are trading guard Kyle Lowry and a protected 2027 first-round draft pick to the Charlotte Hornets for guard Terry Rozier, according to sources.

Miami owes the Oklahoma City Thunder a top-14 protected first-rounder in 2025 and an unprotected pick in 2026. The first to Charlotte is two years after the pick to OKC is conveyed.

Charlotte will reportedly find Lowry a suitable trade partner before the NBA deadline on Thursday, Feb. 8 at 3 p.m. ET. Lowry, 37, has an expiring $29.6 million contract.

Per multiple NBA betting sites, the Heat hold 10th-best odds to win this season’s championship. Sportsbooks are showing better odds for the Boston Celtics, Milwaukee Bucks, and Philadelphia 76ers.

The Charlotte Hornets are trading Terry Rozier to the Miami Heat for a 2027 first-round pick and Kyle Lowry, sources tell ESPN.

— Adrian Wojnarowski (@wojespn) January 23, 2024

Lowry could become a contract buyout candidate, according to ESPN’s Adrian Wojnarowski. However, the six-time All-Star becomes ineligible to sign with teams over the first or second apron if he is bought out.

Therefore, a trade is more likely.

Miami’s pre-trade tax was $29.4 million. The Heat are saving $15.4 million in luxury tax with this trade. This move creates a $6.4 million trade exception as well.

Miami Heat save $15.4 million in luxury tax with Kyle Lowry trade, create $6.4 million trade exception

Charlotte’s 2024-25 team salary is $86.2 million. This amount excludes free agent, draft, and roster charges, according to ESPN’s Bobby Marks. The Hornets have $184 million in salaries for next season. Note that the projected salary cap is $142 million.

Under new Hornets owners Rick Schnall and Gabe Plotkin, the club plans to build around young stars LaMelo Ball and rookie Brandon Miller. At the moment, acquiring draft assets and role players is the main goal.

Through 37 games this season, Lowry is averaging 8.2 points, 3.5 rebounds, 4.0 assists, 1.1 steals, and 28 minutes per game. Plus, he’s shooting 42.6% from the floor, 38.5% from 3-point range, and 83.3% at the foul line.

Financial implications

Miami

Pre-trade tax: $29.4M

Post-trade tax: $13.9M

Savings: $15.4M

The Heat will create a $6.4M Trade Exception (they already have $9.5M, $7.2M and $4.5M TE)

Charlotte

2024-25 Team salary: $86.2M*

Projected salary cap: $142M

*Does not include…

— Bobby Marks (@BobbyMarks42) January 23, 2024

Terry Rozier, 29, should improve Miami’s backcourt to help the contender return to the NBA Finals. Through 30 starts this season, the nine-year veteran is averaging career highs of 23.2 points, 6.6 assists, and 35.5 minutes per game.

In Charlotte’s 133-119 win over the Phoenix Suns on Dec. 29, the guard recorded a season-high 42 points, four boards, eight assists, and one steal in 40 minutes of action.

Of course, Rozier is earning $23.2 million this season and is slated to make $24.9 million in 2024-25. This is part of the four-year, $96.2 million deal he signed with Charlotte in August 2021.

The Heat (24-19) rank sixth in the Eastern Conference standings.