Heat Rumors: Kelly Olynyk Will Exercise $13.6M Contract Option

Kelly Olynyk is staying in Miami for at least one more season.

The veteran big man will exercise his $13.6 million player option for the 2020-21 season, according to Adrian Wojnarowski of ESPN on Thursday. The deadline for him to make his decision was 5 p.m. ET on Thursday, per Tim Reynolds of the Associated Press.

The 29-year-old spent the last three seasons with the Heat after signing a four-year, $50 million contract with them ahead of the 2017-18 season. He's offered the team solid depth at the 4 and 5, averaging 8.2 points and 4.6 rebounds this past season while shooting 46.2 percent from the field and 40.6 percent from three.

His ability to hit shots from the perimeter and stretch the floor is a plus, and Olynyk's willingness to mix it up has always matched Miami's hardworking, tough-minded team identity.

He has found himself as largely a depth piece behind Bam Adebayo, though. Losing a starting job doesn't bode well for his long-term future in the city, but the Canadian's ability to play the 4 or 5 makes him a solid player to have for at least one more season.

And given that he was unlikely to match his $13.6 million option on a long-term deal in free agency, exercising it was the logical move for Olynyk, who can now chase a title with the dangerous Heat.