Andrew Wiggins signs three-year extension with Miami Heat for $64 million

Andrew Wiggins has opted in and extended his contract with the Miami Heat for three years at $64 million, starting with a $30.2 million option year. This decision has led to some initial confusion regarding its implications for the team's salary cap, particularly with the upcoming NBA free agency. Wiggins will earn $16.5 million in the second year and $17.5 million in the third if he does not choose to opt out. The arrangement allows the Heat increased flexibility under the salary cap while maintaining Wiggins as a key contributor alongside Giannis Antetokounmpo, who was acquired in a recent trade. The team's cap situation remains complex due to the luxury tax but looks more favorable going into next summer.

• 1:03 PMYahoo Sports — Andrew Wiggins’ Heat deal unique in its now-and-later benefits