The Miami Heat lost their top star this season when they traded Jimmy Butler to the Warriors. Even without Jimmy, they won two Play-In Tournament games as the No. 10 seed, advancing to the first round, where the Cavaliers swept them.
Butler's looming departure and eventual trade resulted in Tyler Herro making his first All-Star team. However, the playoffs proved that the Heat still need another star if they want to make a title run without Jimmy in a weak conference. Maybe that star will be Kevin Durant, whom the Suns are expected to trade before the draft. The Heat have a long history of striking out on stars, so fans shouldn't get their hopes up.
Keith Smith of Spotrac wrote that taking a "gap year" wouldn't be a bad idea for Miami, giving the Heat a chance to make a big play in 2026 free agency:
"They could reasonably hit the summer of 2026 with $30 or $40 million in cap space, with the potential for even more. Obviously, if the Heat swing a star trade this offseason, that changes everything. Either way, they’re set up with pretty good flexibility no matter which direction they go."
Should the Heat turn their attention to 2026 free agency?
As Smith noted, Miami can make a big splash in free agency. It's not hard to sell a player on making the move to South Florida, but the issue with relying on free agency is that it is no longer what it used to be. You don't see big-name players holding out to make decisions about their future until free agency. The days of waiting in front of the television to hear LeBron James say who he wants to sign with are long gone.
Luka Doncic could be a free agent next summer if he declines his $48.9 million player option, but none of that will matter if he signs an extension with the Lakers this summer. Los Angeles wants to lock Luka in, and he likes playing for the Lakers. Durant could also become a free agent next offseason, as the 2025-26 season is the final year of his current contract. However, whichever team trades for him will want the reassurance that he'll sign an extension before they acquire him.
Maybe the Heat will have no choice but to wait for free agency to roll around next year, but if the front office thinks it will yield the kind of player they need, they'll end up disappointed.