Heat Sign Guard Pelle Larsson to 4-Year, $60M Extension

Pelle Larsson has secured a $60 million extension with the Miami Heat after averaging 11.4 points per game last season.

Miami Heat guard Pelle Larsson has reached an agreement on a four-year, $60 million contract extension, according to agents Austin Brown and Steven Heumann of CAA Sports. Reported by ESPN on Friday, the deal includes a mutual option for the 2030-31 season, allowing the 6-foot-5 guard to avoid restricted free agency next summer. The agreement fully guarantees the $60 million figure while giving both the player and the franchise the ability to opt in for the final year.

Larsson earned a significant rotation role last season, starting 54 of the 70 games he appeared in. He averaged 11.4 points per contest, marking an increase of nearly seven points per game compared to his rookie campaign. According to ESPN Research, the 2024 second-round pick ranked fourth on the team in offensive efficiency and fifth in total minutes played. Defensively, he placed within the top 10 league-wide for charges drawn during the previous season.

The extension follows a major roster overhaul for Miami, which recently acquired Giannis Antetokounmpo in a trade involving Tyler Herro and Jaime Jaquez Jr. The Heat also added veteran Klay Thompson via free agency following his buyout from the Dallas Mavericks. These moves come as the organization attempts to return to the postseason after missing the playoffs last year for the first time in seven seasons.