Pelle Larsson has reportedly agreed to a four-year contract extension with the Miami Heat, potentially worth up to $60 million if the final year is included. The deal, first reported by ESPN, includes a mutual option for the 2030-31 season.
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Larsson's starting salary for the 2027-28 season will be $13.5 million, with increases in subsequent years. Last season, he started 54 games and averaged a career-high 11.4 points per game for Miami.
Originally selected No. 44 overall by the Houston Rockets in the 2024 NBA Draft, Larsson's rights were traded to Miami as part of a three-team deal. He quickly made an impact, playing in 55 games as a rookie and 70 games last season, showcasing significant improvement by shooting nearly 50% from the field.
The 25-year-old shooting guard, who played at Utah and Arizona in college, has drawn praise for his development, particularly following his impressive performances this summer for Sweden in the 2027 FIBA World Cup qualifying games, where he averaged 26 points over four games, including two 31-point outings against Slovenia and Finland.
Larsson is currently set to earn $2.3 million this season. Without the extension, he would have been a restricted free agent next summer.