There were previous rumors that suggested Lowry could have been included in a Bradley Beal trade. Beal, however, was ultimately dealt to the Phoenix Suns. Lowry remains a possibility to be traded though, especially if Miami pursues Damian Lillard. But this latest report states that the Heat are considering cutting ties with the veteran point guard even if a trade doesn't come to fruition, via Barry Jackson of the Miami Herald.
Lowry is due to make just under $30 million next season. Jackson notes in the article that salary cap concerns will be present amid Lowry's contract. As a result, Jackson writes that two sources stated the Heat are thinking about using the “waive-and-stretch provision” on Lowry if he ends up not getting traded.
Kyle Lowry's future with the Heat
Again, there are no guarantees here. There's still a very realistic possibility that Lowry spends the 2023-24 season with the Heat. However, he is dealing with no shortage of trade rumors. And given these aforementioned salary concerns, the Heat will have a difficult decision to make.
In the end though, Jimmy Butler will likely impact Miami's decision. If a trade doesn't happen, Butler may want the Heat to keep Lowry. He's expressed admiration for the guard in the past and seems to enjoy playing alongside him. Butler's input is obviously important to the organization, and Miami wants to keep him happy.
So this begs the question of whether or not Miami will pull off a major trade. There are other stars who could be of interest, but Damian Lillard has been consistently linked to the Heat. A trade package would likely have to include Tyler Herro as well, but Lowry may be apart of it. The Heat would then need to add more players and picks to get something done.
To summarize, Lowry's future in Miami is in question as the Heat prepare to plan out their future following a remarkable 2022-23 NBA Finals run. We will continue to monitor and provide updates on Lowry and the Heat as they are made available.