Heat, Nikola Jovic Agree To 4-Year, $62.4M Rookie Extension

The Miami Heat and forward Nikola Jovic agreed to a four-year, $62.4 million rookie contract extension, agents Jeff Schwartz, Sean Kennedy, and Jared Mucha of Excel Sports Management told ESPN’s Shams Charania on Wednesday night. The contract is fully guaranteed.

Nikola Jovic Entering Fourth Season With Heat

Per Spotrac, the Heat have just over $278.8 million in total cap allocations and $62.6 million in first-apron space for the 2026-27 season, the first year of Jovic’s extension.

Jovic, 22, is heading into his fourth season with the Heat since they selected him with the No. 27 pick in the 2022 NBA draft. He averaged a career-high 10.7 points last season but was limited to only 46 games after breaking a bone in his right hand on Feb. 23.

Miami Heat forward Nikola Jovic has agreed to a four-year, $62.4 million rookie contract extension with the franchise, Jeff Schwartz, Sean Kennedy and Jared Mucha of Excel Sports Management tell ESPN. Jovic averaged a career-high 10.7 points last season as his Heat role elevates. pic.twitter.com/QWYw7nqxp7

— Shams Charania (@ShamsCharania) October 1, 2025

However, Jovic did return for the 2025 playoffs, appearing in all four games of a first-round loss to the Cleveland Cavaliers, averaging 9.5 points and 18.5 minutes in the series.

The 6-foot-10 wing also recorded a playoff-career-high 24 points in Game 4.

According to Basketball Reference, Jovic has played just 107 out of a possible 246 games with Miami. In addition to a hand injury last season, he was limited to just 15 games as a rookie due to back issues.

Jovic Played For Serbian National Team In EuroBasket 2025

During the summertime, Jovic also worked with the Serbian national team during EuroBasket 2025. The Heat anticipate that his role is going to continue to grow this season.

“I’m really excited for Niko. He’s becoming more mature, more professional,” Heat coach Erik Spoelstra said earlier this week at media day, when asked how the Serbian team has impacted Jovic’s development.

“And if you’re hanging out with players much older than you, it just naturally happens. I’ve seen growth from him over three years because of that standard that they’ve had in that program.

“So I think it makes a big impression on him. We’re looking forward to some great things ahead for him with us.”

Per ESPN’s Stats & Info, Jovic made his debut at 19 years, 139 days old, and is the second-youngest player to play for the Heat in franchise history, trailing Dorell Wright in 2005.

Jovic is now one of nine players locked into contracts with the Heat for the 2026-27 season along with Bam Adebayo, Tyler Herro, Jaime Jaquez Jr., Davion Mitchell, Kel’el Ware, Dru Smith, Kasparas Jakucionis, and Pelle Larsson.

In addition, Andrew Wiggins holds a $30.2 million player option for 2026-27.

Jovic is now under contract with the Heat through the 2029-30 season. He’s the only Heat player currently under contract past the 2028-29 season.