- The Miami Heat have acquired Kyle Lowry on a sign-and-trade deal with the Toronto Raptors.
- Miami also acquired P.J. Tucker via free agency while agreeing to a new deal with Duncan Robinson.
- With their Monday moves, the Heat’s championship odds shortened at FanDuel and DraftKings, with the other NBA betting sites expected to follow once they put their oddsboards back live.
Kyle Lowry is finally on the move. After months of speculation, the 35-year old guard is headed to the Miami Heat on a sign-and-trade deal consummated at the start of the free agency period.
Lowry was first to confirm the news on his social media account:
— Kyle Lowry (@Klow7) August 2, 2021
The deal is worth approximately $90M and it is for three years. In exchange for Lowry, the Raptors get Precious Achiuwa and Goran Dragic.
In joining the Heat, Lowry teams up with good buddy Jimmy Butler and emerging All-Star Bam Adebayo as Miami tries to retool after being swept in the first round of the 2021 NBA playoffs one season after representing the Eastern Conference in the NBA Finals.
Busy Day for The Miami Heat
With free-agent negotiations around the NBA allowed to begin Monday at 6 p.m., it’s going to be a busy day for the Miami Heat. Updates will be posted here throughout the day. https://t.co/A2i3c5BFIT
— Miami Herald Sports (@HeraldSports) August 2, 2021
As the NBA’s free agency negotiations began at 6 p.m. on Monday, the Miami Heat was the busiest team right from the get-go.
Aside from acquiring Lowry in the trade, Miami also signed free agent sharpshooter Duncan Robinson to a five-year $90M deal with an early termination option on the fourth year. The deal was revealed by Robinson’s agent Jason Glushon on Monday and is the largest in the history of the NBA for and undrafted player. The Heat were not done.
Later in the evening, the Heat announced that they have signed veteran forward P.J. Tucker to a two-year deal worth $15M with year two being a player option. Tucker was one of the key contributors to the Milwaukee Bucks’ 2021 championship team. Tucker will fit right in with a solid defensive team led by Butler, Adebayo, and now Lowry.
Although the deal is not official, perhaps the biggest news for Miami is that the team is progressing towards a max extension for Jimmy Butler worth an estimated $184M for four years. Butler is the key to Miami’s success as he was during their 2020 run to the NBA Finals. The Heat are hoping that the deal can be finalized so they can officially come to terms on Friday, when Butler is eligible to extend the 2019 deal he signed with the team.
The Biggest Odds Move so Far
The biggest NBA Title odds move so far?
The Miami Heat: +3500 ➡️ +2500 pic.twitter.com/cy5pDos1B9
— NBABet (@nbabet) August 3, 2021
With their Monday moves, the Heat have made the biggest odds move so far in the 2020 NBA championship odds boards. At DraftKings, the Heat went from +3500 on Monday morning to +3000, and later to +2800 after the Lowry trade. FanDuel meanwhile, moved the Heat from +3500 to +2700.
BetMGM didn’t move their championship odds on Monday while the likes of BetOnline and SportsBetting.ag have not yet put their oddsboard back after taking it down at the start of the free agency period. However, it is expected that the best NBA betting sites are going to move the Heat up with the moves they just made and with the ones they are still to make.
The Heat are said to be keen or reuniting Lowry and DeMar DeRozan. DeRozan was first linked to the Lakers but that idea has since fizzled. They are also rumored to be interested in veteran forwards Rudy Gay or Markeiff Morris. If Pat Riley can add one of those names or another significant veteran contributor without giving up Tyler Herro, that’s going to be huge for Miami.
The Heat, Lakers, and Bucks are still on top of the 2022 NBA championship odds boards. However, with the Miami Heat retooling their lineup without losing any significant contributor to their 2020 Eastern Conference Finals winning team, they are going to be a team to watch in the East.