The Miami Heat have signed swingman Pelle Larsson to a four-year, $60 million contract extension. Heading into his third NBA season, the former second-round draft pick has been rewarded for his massive step forward in efficiency, tenacious defense, and rapidly improving all-around game.
Though this is a risky investment considering Larsson has only played two seasons, the $60 million extension will look like quite a bargain by this time next year.
Larsson made waves overseas this summer, starring for Sweden at the 2027 FIBA World Cup Qualifiers. Even before then, however, he looked the part of a force on the rise, thriving on both ends of the floor in 2025-26.
That was reflected in Larsson's 2025-26 regular season averages of 11.4 points, 3.5 rebounds, 3.4 assists, 0.7 steals, and 0.9 three-point field goals made in 26.4 minutes per game.
Those numbers translate to intriguing marks of 15.6 points, 4.8 rebounds, 4.6 assists, 1.0 steal, and 1.2 three-point field goals made per 36 minutes. Larsson increased his averages in points, rebounds, and assists per 36 between 2024-25 and 2025-26, all the while improving his slash line from .438/.337/.672 to .496/.323/.797.
Beyond the numbers, Larsson already ranks among the better defenders in the NBA—making his all-around growth as a player a sign of even greater potential.
Pelle Larsson is already one of the better two-way wings in the NBA
According to Basketball Index, Larsson ranked in the 94th percentile in perimeter isolation defense during the 2025-26 regular season. He also ranked in the 72nd percentile in rim protection, the 71st percentile in defensive positional versatility, and the 92nd percentile in defensive matchup difficulty.
Tasked with taking on opposing teams' best scorers and playmakers, Larsson established himself as an arguably elite on-ball defender who can shuffle between multiple positions.
Offensively, Larsson's inconsistent three-point shot fails to negate his all-around value. He's a crafty playmaker who can help a Heat team that lacks proven playmaking depth behind Davion Mitchell and Giannis Antetokounmpo, and a productive slasher who shot 53.6 percent on 8.6 drives per game in 2025-26.
Larsson is also quite promising as an all-around isolation scorer after ranking in the 90th percentile in one on one shot making efficiency and the 68th percentile in midrange shot making efficiency.
There's certainly still room to grow, with Larsson's three-point shot carrying weight in regard to how well he'll fit alongside a downhill scorer like Antetokounmpo. As an excellent defender, efficient slasher and finisher, and a capable midrange scorer, however, Larsson has a lot to offer.
If he continues to improve at the rate he's been going, then Larsson won't need much time to make his four-year, $60 million extension look like an absolute bargain of a deal.
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