For the eighth time in the last 10 years, the Miami Heat let another NBA trade deadline pass without making any substantial moves. It did not have to be Giannis Antetokounmpo, but Pat Riley found himself in a position to potentially make a big move yet again, only to let the moment pass him by.
In what feels like a painful episode of déjà vu, Miami's biggest mistake at the 2026 NBA trade deadline was its frustrating inactivity. The Heat were one of just three teams to make zero moves in the week before the deadline, much to the dismay of the fan base.
The Heat reportedly made an offer for Antetokounmpo before the deadline, as did a few other teams. The offer was intriguing but not enough, prompting a counteroffer that Miami balked at.
The Heat, along with the Golden State Warriors, Minnesota Timberwolves and New York Knicks, are content to wait for the offseason, when they believe Antetokounmpo will still be available. The Milwaukee Bucks are confident that they can re-sign the 31-year-old at the end of the season, but rival organizations appear to be equally optimistic that their relationship will only worsen over time.
While Miami spent all its attention on Antetokounmpo, which could have been its undoing, it missed out on several other potential blockbuster trades. The Heat were reportedly in the mix for Memphis Grizzlies guard Ja Morant and Warriors forward Jonathan Kuminga, yet had no urgency to make any changes.
In what seemed to be their most opportunistic trade deadline in years, the Heat's persistent contentment will seemingly hurt more in 2026 than ever before. Only time will tell, but Riley might have just let a massive championship window close right in front of him.
Pat Riley misses on Giannis Antetokounmpo
In a tale as old as time, the Heat had an opportunity to change their entire season outlook by adding a bona fide star, only to come up empty-handed.
The Heat were not the only team in the running, and the Bucks' asking price reportedly turned Pat Riley away. Still, the excuses are getting stale for fans at this point, who have watched Miami miss on Kevin Durant, Donovan Mitchell and the biggest fish in the sea, Damian Lillard, all in the last decade. Add Giannis Antetokounmpo and Ja Morant to that list.
The Heat miss out again…
After not landing Giannis, it's more of the same for Miami. Let's look back at the stars Miami has tried to get in the past few years:
⭐️ Donovan Mitchell
In 2022, the Jazz were looking to trade Mitchell. Spida even named the Heat as one of his… pic.twitter.com/LVZKW3x92a
— ClutchPoints (@ClutchPoints) February 6, 2026
Riley landed Jimmy Butler, but that only came together after Butler essentially burned all his bridges with the Minnesota Timberwolves and Philadelphia 76ers. That trade immediately turned the Heat into title contenders, and they have not followed it up with any substantial moves since.
Acquiring Antetokounmpo, whose name has been in trade rumors for a couple of years now, would have been that needle-moving deal. The Heat claim they are content to wait until the offseason, but they spent the entire few weeks leading up to the deadline honing in on Antetokounmpo. In doing so, they missed out on Morant, Kuminga, or any other player who could have tipped the scales for their rest-of-season outlook.
Credit Riley for building a culture and environment in Miami that players around the league find attractive. But at the same time, the job does not end when stars name the Heat as one of their preferred trade destinations.
Miami is setting itself up for the future, which is a fine plan if everything works out. The team has been saying that for years, and “the future” never seems to arrive.
Heat continue to be too passive in trade market
Antetokounmpo was the big miss for the Heat, but making zero moves at all was the team's biggest mistake of the 2026 NBA trade deadline. The San Antonio Spurs and Houston Rockets were the only two other teams to remain silent through Thursday's deadline.
The 2026 deadline was more active than usual, but unlike the Spurs and Rockets, the Heat were primed to make a splash on Thursday. In the weeks leading up to the deadline, few teams were involved in more rumors and discussions around the league than Miami was, yet the offices in South Beach did nothing but watch the chaos unfold around them.
The inactivity at the deadline comes after Riley orchestrated a successful offseason, headlined by the acquisition of Norman Powell at a low cost. That move has paid dividends, with Powell making the 2026 All-Star roster and fitting in beautifully with Bam Adebayo and Tyler Herro.
Yet, when it comes to making similar moves, Riley has historically refused to follow up. His tendency to take a “wait-and-see” approach has hurt the organization time and again over the past decade, from doubling down on Dion Waiters and James Johnson in 2017 to using his trade for Terry Rozier as an excuse for Miami's idle 2024 offseason.
Riley keeps getting the Heat into striking distance, but when it comes to getting into the end zone, the plans typically fall apart.
The most successful teams in the modern NBA have been aggressive in the trade market in the years leading up to their success. Miami, for whatever reason, does not believe in that model and continues to take a passive approach, hoping everything just falls into place for them.
