Reports: Bam Adebayo signing 3-year, $166M extension to remain with Heat

Bam Adebayo will remain in Miami on a max extension. (Justin Casterline/Getty Images)
Bam Adebayo will remain in Miami on a max extension. (Justin Casterline/Getty Images)

Bam Adebayo is signing a three-year extension to remain with the Miami Heat, according to multiple reports.

The max deal is reportedly valued at $166 million. Adebayo will sign the deal with with two years remaining on a five-year, $163 million contract. The deal keeps Adebayo under Heat control through the 2028-29 season, which would be his 12th in the NBA.

Adebayo, 26, is coming of his second consecutive All-Star campaign and the third of his career. A seven-year veteran who's spent his entire career in Miami, he's become a cornerstone for a franchise that's made two NBA Finals in the last five seasons.

Adebayo averaged 19.3 points, a career-high 10.4 rebounds, 3.9 assists, 1.1 steals and 0.9 blocks last season while shooting 52.8% from the floor. He incorporated 3-point shooting into his game for the first time while connecting on 35.7% of his 0.6 attempts per game. He'd previously never made more than three 3-pointers in a single season.

Adebayo was a finalist for Defensive Player of the Year and named to an All-Defensive Team for the fifth straight season — his first time on the first team.

Jimmy Butler is also eligible for an extension but intends to play out next season on his current deal and enact an opt-out option for 2025-26 to become a free agent, The Athletic reports. Butler has two years remaining on a three-year, $146.4 million contract. He would like to remain with the Heat, according to the report.

Team president Pat Riley said in May that the team hadn't yet discussed an extension for Butler this offseason while noting that "we don't have to do that for a year."