MIAMI — A day after trading forward Haywood Highsmith to ease their situation against the punitive NBA luxury tax, the Miami Heat on Saturday re-signed guard Dru Smith to a three-year contract.
Smith, who had a Heat qualifying offer in place for a two-way contract and stood as a restricted free agent, agreed to a $7.9 million deal that only has the first year fully guaranteed.
Because of his previous tenure with the team, Smith, 27, was ineligible to return on a two-way contract.
Smith is rehabilitating from an Achilles tear sustained last December. The Heat have yet to make clear whether the veteran guard will be available for the start of the regular season, which tips off Oct. 22 on the road against the Orlando Magic.
This is the eighth time the Heat have signed Smith. He initially signed with the Heat on Sept. 10, 2021, before being cut during training camp. He then was signed by the Heat to a camp tryout contract on Sept. 20, 2022, from there signing a two-way contract with the team on Oct. 13, 2022. After being cut by the Heat, he was brought back on a two-way contract on Nov. 25, 2022. After a brief stint with the Brooklyn Nets on a two-way contract, Smith signed a two-way contract with the Heat on July 1, 2023. From there, he was signed to a standard contract by the Heat on Oct. 21, 2023. After being waived by the Heat following a major knee injury in 2023, he was re-signed by the Heat on July 1, 2024 to a two-way deal. That whirlwind was followed by the agreement announced Saturday.
Smith becomes the 14th player under standard contract to the Heat. Teams are allowed to carry up to 15 players under standard contract during the regular season.
With the re-signing of Smith, the Heat have under standard contract Smith, Bam Adebayo, Tyler Herro, Andrew Wiggins, Norman Powell, Kel’el Ware, Davion Mitchell, Nikola Jovic, Simone Fontecchio, Jaime Jaquez Jr., Pelle Larsson, Terry Rozier, Keshad Johnson and 2025 first-round pick Kasparas Jakucionis.
When healthy, Smith stands as a playmaking, defensive backcourt component, likely to play in support of Mitchell, who was re-signed earlier this summer. The return of Smith likely means a more patient approach for Jakucionis, likely with time with the G League Sioux Falls Skyforce.
All three players who finished last season with the Heat on two-way contracts no longer are under such deals. Smith now moves onto a standard contract, while Josh Christopher and Isaiah Stevens are no longer with the team. Stevens signed a two-way contract with the Sacramento Kings. Christopher, who no longer is eligible for a two-way contract, is a free agent.
Teams are allowed a maximum of three players under two-way deals during the regular season. The Heat currently have two players under such deals: former Florida Atlantic University center Vlad Goldin and former Magic G League prospect Myron Gardner.
Prior to the start of the regular season, teams may carry up to 21 players under contract. In addition to the 16 currently under standard contract or two-way deals, the Heat this week signed Orlando G League prospect Ethan Thompson to a camp tryout deal and are expected to sign undrafted Utah State guard Gabe Madsen to a similar deal. In addition, journeyman center Kai Jones worked out this week for the Heat at Kaseya Center.
As for Smith, he appeared in 14 games last season before his Dec. 23 Achilles tear, averaging 6.2 points, 2.6 rebounds, 1.6 assists and a team-leading 1.50 steals in an average of 19.2 minutes, shooting .508 from the field, .533 on 3-pointers and .750 percent from the foul line.
The guard who went undrafted out of Missouri in 2021, recorded five games last season with multiple 3-pointers, connecting on 3-pointers in a career-high nine consecutive games from Nov. 18 -Dec. 21. In addition, he recorded a career-high six steals at Detroit on Dec. 16, the most in any game by a Heat player last season.
The Heat open trading camp September 30 at FAU.
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