Projecting Upcoming Contract Situations: Current Extension-Eligible Players - Part 4
In the fourth part of this series, we preview 11 players from the Heat, Celtics, Lakers, Grizzlies, Nuggets, Pistons, Thunder, and Bucks who are extension-eligible through June 30, 2026.
The 2025-26 regular season is now roughly 75 percent complete, which means it’s time to start projecting players with upcoming contractual situations. Third Apron will be analyzing the most significant upcoming player negotiations over the next few months. We’ll also be touching on players whose contract situations may not matter in the grand scheme of things. Over 100 players will be previewed.
There is still much basketball to be played, and some players could still impact their value in a deep playoff run. But not everyone makes the playoffs, and the competitive portion of the season is over for many teams. So there’s probably a big enough sample size to start his project now.
The first few posts will be dedicated to players who are currently extension-eligible since they can extend at any moment. Players become extension-eligible on the second anniversary of a contract spanning three or four years, or the third anniversary of a contract spanning five or six years.
Such players are extension-eligible through June 30 because they are in the final year of their contract, or have an option that can be declined for free agency. Players with pending options must decline their options if they want to extend their contracts between now and June 30.
More from this series: Current Extension Eligible Players Part 1 | Current Extension Eligible Players Part 2 | Current Extension Eligible Players Part 3
Norman Powell | Andrew Wiggins | Nikola Vucevic | Jordan Walsh | Rui Hachumura | Maxi Kleber | GG Jackson | Jalen Pickett | Kevin Huerter | Kenrich Williams | Andre Jackson Jr.
Norman Powell (Miami Heat)
The Clippers traded Norman Powell last summer for additional size in John Collins, and because they believed Bradley Beal could provide sufficient production in his place. There were probably also doubts about whether Powell could replicate the career-best season he had just produced. Players rarely reach their prime in their 10th season, let alone sustain it.
It looks like Powell is joining a rare company of players who share that late-career trajectory. He picked up right where he left off, delivering another high-scoring, high-usage campaign while shooting 39 percent from three on seven attempts per game. This time, he was rewarded with his first All-Star selection, becoming just the seventh player in league history to earn his first All-Star nod in his 11th season or later.
Despite all of that, Powell is still on an expiring contract. He is finishing up the five-year, $90 million deal he signed with the Blazers in 2021. He has been extension-eligible since last offseason and would like to continue his career in Miami, though it remains unclear how much of a priority he is to the Heat as they maintain cap flexibility for a potential star acquisition.
Powell can extend for up to four years and $128.5 million, which would start him at $28.7 million annually. The annual salary is not the sticking point so much as the years. Back in June, Third Apron projected a three-year, $72 million extension for Powell, structured to pay him the same percentage of the salary cap as his current deal.
That valuation, however, factored in his trajectory following last season. His All-Star performance this season has outpaced it. The bigger question now is whether there will be a market among cap-space teams willing to commit in the $25-30 million annual range.
The Clippers have cap space this summer and could use Powell badly, particularly if they lose Kawhi Leonard in the offseason due to the salary cap circumvention scandal. But the Heat’s pursuit of Giannis Antetokounmpo is almost certainly shaping how they handle Powell’s situation. Miami is the only team among his preferred destinations that could sign him outright in the 2027 offseason, when Tyler Herro, Andrew Wiggins, Davion Mitchell, and Jaime Jaquez all come off the books and the Heat project to have maximum cap space.
In the near term, the Heat could look to give Powell an inflated one-year deal to bridge the gap. They currently project with $34.5 million in space below the 2026-27 luxury tax line with 12 players under contract, assuming Wiggins opts in. They could extend him to a $28-30 million salary, though he would not be extension-eligible again after that. The ideal scenario for both sides is a star trade followed by re-signing Powell and their other 2027 free agents using Bird rights.
