Dennis Smith Jr. Agrees to Exhibit 10 Deal with Miami Heat

Dennis Smith Jr. has reached an agreement to sign with the Miami Heat on an Exhibit 10 contract. Agent Daniel Hazan confirmed the deal, stating, "Dennis Smith Jr. has reached an agreement with the Miami Heat."

The contract is non-guaranteed and functions as a training camp invitation. It will not count against the team's salary cap unless Smith makes the regular season roster. The specific financial terms were not disclosed.

Camp status and role outlook

Smith is not expected to join the Heat at the start of training camp. Ira Winderman noted, "Smith will receive an Exhibit 10 contract but is not expected to join Miami at the start of training camp." He will likely begin the season with the Heat's G League affiliate, the Sioux Falls Skyforce.

The Heat's point guard rotation is already taking shape. Davion Mitchell is projected as the starter, with Dru Smith as the primary reserve. Two-way player Tre Donaldson also provides depth at the position.

Career background and recent play

The 28-year-old Smith is a seven-year NBA veteran and former lottery pick. He was selected ninth overall by the Dallas Mavericks in the 2017 NBA Draft. His career has included stops with the New York Knicks, Detroit Pistons, Portland Trail Blazers, Charlotte Hornets, and Brooklyn Nets.

Since last appearing in the NBA during the 2023-24 season, Smith played briefly for Real Madrid in Spain and spent time in the G League. Last season, he split 32 G League games between the Wisconsin Herd and the Sioux Falls Skyforce.

His combined G League averages for the season are shown below:

Smith's overall NBA career averages are 9.7 points, 4.2 assists, 3.0 rebounds, and 1.2 steals per game across 326 appearances.

Contract details and Heat context

The Exhibit 10 deal provides a potential financial incentive for Smith to join the G League. If he is waived before the season and spends at least 60 days with the Sioux Falls Skyforce, he would be eligible for a bonus worth up to $91,000 on top of his G League salary. Due to his years of service, Smith is not eligible for a two-way contract.

This move fits within Miami's tight salary cap situation. The team is currently $2.6 million below the first-apron hard cap with 14 players on standard contracts. Adding a 15th player on a veteran's minimum deal would carry a cap hit of approximately $2.45 million.

The Heat have monitored Smith throughout the offseason. He signed a similar training camp deal with the Dallas Mavericks last fall but did not make their final roster.

Miami will hold its media day on Monday at Kaseya Center before opening training camp on Tuesday at Florida Atlantic University in Boca Raton. Smith will likely head back to Sioux Falls to start the season.