Gabe Vincent has turned down an offer from the Miami Heat worth about $8 million per season, according to sources. Vincent, 27, was presented a new contract comparable to the structure of Caleb Martin’s three-year deal. This means the fourth-year pro will likely test the open market in free agency.
Heat G.M. Andy Elisburg is trying to avoid paying Vincent close to the $12.4 million mid-level exception. Miami is currently at $173 million, and the tax threshold for the 2023-24 season is $165 million. Their current luxury tax space is over by $8 million. However, Miami can sign-and-trade away a player without triggering the hard cap.
Per a few NBA betting sites, the Miami Heat hold seventh-shortest odds to win next season’s championship in 2024. At the moment, sportsbooks are showing better odds for the Boston Celtics and Milwaukee Bucks in the Eastern Conference.
The Heat are only offering Gabe Vincent $8M per year 😳
(Via @5ReasonsSports ) pic.twitter.com/RPRFeDsvuJ
— NBACentral (@TheNBACentral) June 30, 2023
Gabe Vincent made 34 starts in 68 appearances with the Heat in the 2022-23 regular season. The UC Santa Barbara product averaged career highs of 9.4 points, 2.1 rebounds, and 25.9 minutes per game. In addition to logging 2.5 assists per game, he also shot 40.2% from the floor, 33.4% outside the arc, and a career-best 87.2% at the foul line.
In Miami’s 108-102 win over the Bucks on Jan. 12, the guard scored a then-career-high 28 points in 42 minutes as a starter. Along with tallying three boards, six assists, and two steals, he finished 10-of-17 (58.8%) shooting from the field and knocked down five 3-pointers.
NBA Free Agency: Gabe Vincent turns down Miami Heat’s offer worth $8 million per season, to test the open market alongside teammate Max Strus?
In Game 3 of the Heat’s 128-102 win over Boston in the 2023 Eastern Conference Finals, Vincent scored a career-high 29 points in 36 minutes of action. The California native shot an impressive 11-of-14 (78.6%) from the floor and 6-of-9 (66.7%) from downtown.
Another teammate potentially joining Gabe Vincent in free agency is Max Strus, who is expected to receive a three-year contract in the $48 million range from the Indiana Pacers. NBA free agency begins later today at 6 p.m. ET. A double-digit, multi-year deal would be a first for the 6-foot-5 wing.
Per source, Heat has made an offer to Vincent similar to structure of Caleb Martin’s 3-year deal but for bit more money (more than $7 M per year for Gabe). It did not move the needle. Vincent’s return is looking less likely, unless Heat raises its offer. Free agency begins at 6pm
— Barry Jackson (@flasportsbuzz) June 30, 2023
In August 2021, Strus signed a two-year, $3.42 million contract with Miami. “Sources tell ‘The Stein Line’ that the Indiana Pacers, who are projected to have more than $30 million in salary cap space, are strongly weighing a three-year offer for Strus in the $48 million range,” wrote Marc Stein of “The Stein Line” on Thursday.
During Game 2 of Miami’s first-round series against the New York Knicks, the Heat set an NBA single-game playoff record for most points scored by undrafted players (74). Strus, Martin, Vincent, Duncan Robinson, and Haywood Highsmith each contributed offensively in Miami’s 111-105 loss.
