NBA planning big jump in salary cap. Here’s how it affects the Miami Heat

The NBA informed teams that the 2023-24 salary cap will rise by more than $10 million from this season’s salary cap, The Athletic reported Friday.

But even a jump to a $134 million projected cap in 2023-24 won’t be nearly enough to leave the Heat with any cap space next summer, based on the current construction of the roster.

The Heat currently has $132.4 million committed to its top five players with guaranteed contracts for the 2023-24 season: Jimmy Butler ($45.2 million), Bam Adebayo ($32.6 million), Kyle Lowry ($29.7 million), Duncan Robinson ($18.2 million) and Caleb Martin ($6.8 million).

Beyond that, Tyler Herro’s 2023-24 cap hit will be substantial presuming he’s on the team — regardless of whether Miami gives him a lucractive extension by the Oct. 18 rookie extension deadline or re-signs him as a restricted free agent next summer. Herro could earn in the range of $25 million per season in a new deal, beginning in 2023-24

Victor Oladipo has a $9.4 million player option for 2023-24, and Dwayne Dedmon’s $4.3 million salary for that season is fully non-guaranteed.

Gabe Vincent, Max Strus and Omer Yurtseven will be free agents after this coming season, with the team able to surpass the salary cap to re-sign them.

Nikola Jovic is due $2.4 million in 2023-24.

If Herro gets the substantial raise expected — and most of the remainder of the roster remains intact — then the Heat likely would surpass the projected $162 million tax line for 2023-24, regardless of whether Oladipo opts in or not.

That could motivate the Heat to try to move Robinson’s contract, which has four years and $75 million remaining, for a shorter deal.

Miami would have exception money available next summer but likely would incur a considerable tax by spending exception money, unless the payroll is cut via trades over the next year.

The bottom line? For the forseeable future, the Heat’s most realistic avenue to improve its roster will be through trades.

The projected $134 million cap and $162 million tax line for 2023-24 are $1 million higher than previous projections.