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Report: Heat sign Justise Winslow to 3-year contract extension

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Miami holds a third year team option on Winslow’s contract.

NBA: Preseason-Miami Heat at Washington Wizards Tommy Gilligan-USA TODAY Sports

The Miami Heat have reportedly signed Justise Winslow to a three-year, $39 million contract extension just before the start of the 2018-19 NBA season.

League sources told ESPN’s Adrian Wojnarowski that “Roc Nation completed the deal with Heat president Pat Riley and general manager Andy Elisburg on Friday afternoon” ahead of a Monday deadline. Winslow would have been a restricted free agent entering the 2019 offseason.

Additionally, the Athletic’s Shams Charania is reporting that the Heat hold a team option for the third year.

Overall, this looks like a solid deal for both parties and the Heat will get to retain another quality young asset on the team. However, the extension will also make it difficult for Winslow to be included in a potential trade.

Bobby Marks of ESPN:

The rookie extension for Justise Winslow now comes with the poison pill provision. Although Winslow can still be traded, the restriction makes it extremely difficult during the 2018-19 season. For trade purposes, the Winslow salary would count as $10.6M towards incoming salary for teams interested in acquiring the forward. This amount reflects the average in the last year of his rookie contract and new extension. The Heat would use $3.5M (last year of his rookie contract) as outgoing salary for trade purposes. The Heat are now slightly above the luxury tax threshold for 2019-20 with a projected $133M in guaranteed salary and 9 players under contract.