BREAKING: Miami Heat Reportedly Trade NBA Champion For 9-Year Veteran

According to ESPN's Adrian Wojnarowski, the Miami Heat and Charlotte Hornets have made a trade.

UPDATE: The trade is official. 

OFFICIAL: The Miami HEAT have acquired guard Terry Rozier from the Charlotte Hornets in exchange for Kyle Lowry and a protected 2027 first round pick.

— Miami HEAT (@MiamiHEAT) January 23, 2024

UPDATE: ESPN's Adrian Wojnarowski reports that the Hornets will likely look to move Kyle Lowry in another deal. 

Via Wojnarowski: "The Hornets have no immediate plans to work on a buyout with Lowry and are expected to see if they can work another trade for him before the February 8 deadline, sources tell ESPN."

The Hornets have no immediate plans to work on a buyout with Lowry and are expected to see if they can work another trade for him before the February 8 deadline, sources tell ESPN.

— Adrian Wojnarowski (@wojespn) January 23, 2024

On Wednesday evening, the Miami Heat will host the Memphis Grizzlies in Florida.  

Before the game (on Tuesday), ESPN's Adrian Wojnarowski reported that the Heat have agreed to a trade with the Charlotte Hornets.     

Via Wojnarowski: "The Charlotte Hornets are trading Terry Rozier to the Miami Heat for a 2027 first-round pick and Kyle Lowry, sources tell ESPN."

The Charlotte Hornets are trading Terry Rozier to the Miami Heat for a 2027 first-round pick and Kyle Lowry, sources tell ESPN.

— Adrian Wojnarowski (@wojespn) January 23, 2024

Rozier is in the middle of a very productive season and is currently averaging 23.2 points, 3.9 rebounds, 6.6 assists and 1.1 steals per contest while shooting 45.9% from the field and 35.8% from the three-point range in 30 games for Charlotte.  

The Hornets have struggled during his four and a half seasons with the franchise and failed to reach the NBA playoffs.  

However, he spent the first four seasons of his career with the Boston Celtics and appeared in 50 playoff games. 

Meanwhile, Lowry had been in his third season with Miami. 

He has helped the Heat reach the Eastern Conference Finals in each of the previous two seasons, and they are coming off a year where they made the NBA Finals. 

The 2019 NBA Champion is averaging 8.2 points, 3.5 rebounds, and 4.0 assists per contest while shooting 42.6% from the field and 38.5% from the three-point range in 37 games. 

Financial implications

Miami

Pre-trade tax: $29.4M

Post-trade tax: $13.9M

Savings: $15.4M

The Heat will create a $6.4M Trade Exception (they already have $9.5M, $7.2M and $4.5M TE)

Charlotte

2024-25 Team salary: $86.2M*

Projected salary cap: $142M

*Does not include…

— Bobby Marks (@BobbyMarks42) January 23, 2024

More on the Charlotte Hornets can be read here 

More on the Miami Heat can be read here