Four years, $60 million
The Miami Heat have extended Pelle Larsson. The Swedish guard has agreed to a four-year, $60 million extension. His agents at CAA Sports confirmed the terms to ESPN on Friday.
That works out at around $15 million a season. A strong price for a second-round pick from the 2024 draft, especially at a spot where teams rarely hand out deals of this size.
Miami has locked in a rotation piece for the long haul, and Larsson is still only 25.
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A season that changed everything
The 2025-26 campaign was the turning point. Larsson averaged 11.4 points, 3.5 rebounds and 3.4 assists across 70 games, including 54 starts. He took a real step forward, becoming a regular starter rather than just another bench option.
For his career, the numbers are still more modest: 8.4 points, 2.7 rebounds and 2.4 assists in 125 games, with 62 starts. The gap between those two lines shows how far he jumped in year two.
The Swede arrived in Florida in a draft-night trade on June 27, 2024. The Houston Rockets held his rights before shipping him to Miami. Two years on, the Heat have backed that call with a hefty check.
What it says about the Heat
Miami keeps betting on its knack for finding players other teams overlook. The franchise has built plenty of its identity on developing late picks and undrafted talent, then hanging on to them.
Larsson started 54 of 70 games last season, which tells you the coaching staff already trusted him. The extension lands before training camp opens, clearing one more item off the to-do list before the new season starts.
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