Tyler Herro, Heat agree to four-year extension

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Tyler Herro and the Miami Heat agreed to a four-year contract extension on Sunday, the team announced.

The deal could be worth up to $130 million with incentives, according to the Associated Press. The deal is reportedly worth $120 million in guaranteed salary with $10 million that could be earned in bonuses. ESPN first reported the deal was done.

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FILE - Miami Heat's Tyler Herro (14) goes up for a shot against Philadelphia 76ers' Matisse Thybulle, center, and Paul Reed during the first half of Game 6 of an NBA basketball second-round playoff series on May 12, 2022, in Philadelphia.  (AP Photo/Matt Slocum, File)

Herro reacted to the deal on social media. He tweeted out a GIF of Bugs Bunny counting his money.

The Heat selected Herro with the No. 13 pick of the 2019 NBA Draft. He played a huge part in the Heat getting to the 2020 NBA Finals during the coronavirus-impacted season. In 2021-22, Herro was named the Sixth Man of the Year after averaging 20.7 points, 5 rebounds and 4 assists in 66 games. He only started 10 of those 66 appearances and he averaged a career high 32.6 minutes per game.

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May 21, 2022; Boston, Massachusetts, USA; Miami Heat guard Tyler Herro (14) warms up before game three of the 2022 eastern conference finals against the Boston Celtics at TD Garden. (David Butler II-USA TODAY Sports)

Miami announced the deal later Sunday night.

"Tyler is an impact multi-faceted player and we are excited to have him signed for the next five years," Miami president Pat Riley said in a news release. "His