Miami Heat: Kyle Lowry signs with Heat on three-year deal

It is official – Kyle Lowry is now a member of the Miami Heat. The deal had been gaining traction in recent weeks and there is now an agreement between the two parties.

Both Adrian Wojnarowski and Shams Charania reported the deal once free agency opened. Wojnarowski hinted that a deal could be in the works last night, but now everything has officially been agreed upon.

Kyle Lowry is officially a member of the Miami Heat

The deal is as previously assumed – three years, and around $90 million, according to Adrian Wojnarowski. Though the exact details have not come out about year-to-year money, he will make around $30 million each season.

Lowry announced the move on his Instagram, posting to his story “Kyle Lowry x Miami Heat” and “Let’s go!” His friendship with Jimmy Butler has been well documented.

The signing will be in the form of a sign-and-trade. Lowry will join his good friend Jimmy Butler in Miami, while Goran Dragic and Precious Achiuwa will be sent to Toronto.

John Hollinger of The Athletic reports that the contract could reach up to $87 million, not exactly $90 million. If the deal is any higher, they would have to include other players in the sign-and-trade.

There has been some speculation that Goran Dragic will agree to a buyout with the Raptors, but nothing has been set in stone yet. In that case, he would hit the free agency market.

The Miami Heat get an All-Star caliber point guard in Lowry who will surely elevate their ceiling next year. A big three of Lowry, Butler, and Bam Adebayo should be able to compete for a title.

Lowry brings championship experience to Miami, as he won a ring in 2019 with the Raptors. That, along with his great shooting and playmaking abilities, will certainly help out Miami’s core.

In addition, Lowry is a great defender for his position and size. He’s super gritty and makes it a point to get under the skin of opposing players.

This playstyle is exactly what the Miami Heat look for in their players. He’ll be an amazing fit at the point guard position.

The one downside to the deal is that Lowry will turn 36 years old in March. This means that by the end of his contract the Miami Heat will be paying a 39-year-old point guard a ton of money.

Though the deal has been agreed upon, signings cannot become official until August 6th. That’s when confirmation will come through from official team sources.

Regardless, this was a super great signing by Pat Riley. Hopefully, he can follow it up with some more to really round out the Miami Heat’s roster for next season.