Kyle Lowry Rumors: Heat to Consider Waiving PG If Unable to Find Trade in Free Agency

The Miami Heat will reportedly consider using the stretch provision on guard Kyle Lowry if they are unable to use his $29.7 million salary as part of a larger trade.

Barry Jackson of the Miami Herald reported the Heat have had internal discussions on the potential move but have not made a formal decision. If Miami used the stretch provision, Lowry would count for $9.9 million against the cap each of the next three seasons.

Lowry, 37, has been a bit of a disappointment since joining the Heat via sign-and-trade in 2021. He experienced a marked decline in play from his All-Star heights in Toronto and averaged just 11.2 points, 4.1 rebounds and 5.1 assists last season.

For a player making nearly $30 million in the modern NBA economy, it's fair to see why the Heat would have some buyer's remorse.

Lowry's cap hold could be an asset if Miami finds a blockbuster trade worth making this summer. The Heat have been oft-mentioned as a potential suitor for Damian Lillard—including by the All-Star guard himself—but the Portland Trail Blazer seem committed to keeping Lillard for now.

Miami could also be a potential home for Pascal Siakam if Toronto decides to embark on a rebuild. Howard Beck of GQ reported the Los Angeles Clippers plan to keep Paul George after briefly exploring the market for the All-Star swingman.

Lowry would have no shortage of contenders lining up to sign him despite his decline in play. While he's more of a role player than a building block at this point in his career, a contender would gladly pay him one of the two midlevel exceptions to come in and provide stability to their point guard position.