Kyle Lowry could cost Miami $90M. Would that be a mistake?

Barry Jackson and Anthony Chiang of The Miami Herald reported Monday that Kyle Lowry — a player whom “the Miami Heat remains very interested in” — would like a guaranteed three-year deal averaging $30 million per season.

The news instantly divided Heat fans, with some wondering if giving the 35-year-old Lowry a three-year contract at a high price tag would be a wise move. But as I said last month, passing up on the chance to trade for a 34-year-old Chris Paul in 2019 because of his contract — which has a $44.2 million player option for next season — has turned into a huge mistake.

Aside from Miami, the New Orleans Pelicans, Dallas Mavericks, New York Knicks, Philadelphia 76ers and Los Angeles Lakers are all believed to covet Lowry, according to the report. That could mean the Heat can’t afford to low-ball Lowry — because then, he would sign with another team.

If the Heat decide signing Lowry is worth the cost, it then becomes a matter of how — an outright signing or a sign-and-trade. Miami could offer the six-time All-Star a three-year, $85 million contract if they renounce restricted free agent Kendrick Nunn, decline team options for Goran Dragic and Andre Iguodala and quickly agree on a figure to re-sign Duncan Robinson.

Jackson and Chiang said that “it’s questionable” that Toronto and Miami could agree on compensation for a sign-and-trade. They said the Heat remain reluctant to include Herro in a sign-and-trade for Lowry, the same stumbling block that snagged discussions between the two teams prior to the 2021 trade deadline.

The two Herald reporters also said that if the Heat don’t land Lowry, Spencer Dinwiddie would be of interest. Miami was also linked to Dinwiddie before the 2021 trade deadline.