Heat formally waive guard Terry Rozier

Ira Winderman, South Florida Sun-Sentinel on Apr 10, 2026

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After months of listing Terry Rozier as “not with team,” that became permanent Friday, with the Miami Heat waiving the guard who has been on NBA leave since his October arrest in an FBI gambling investigation.

The move came at the league’s deadline for such a transaction to clear a roster spot. Rozier, 31, will become an unrestricted free agent once clearing the 48-hour waiver period on Sunday, with the Heat’s move completed four hours in advance of Friday’s 5 p.m. deadline.

The Heat’s statement in announcing Rozier’s release was simple and brief, reading only, “The Miami HEAT announced today that they have waived guard Terry Rozier III. Rozier III spent three seasons with Miami averaging 12.5 points, 3.9 rebounds and 3.3 assists.”

The Heat now have until before Sunday’s 6 p.m. regular-season finale against the Atlanta Hawks at Kaseya Center to sign a replacement player to fill out their 15-player standard roster ahead of the postseason. Among the possibilities is elevating one of their players on two-way contracts: Vlad Goldin, Jahmir Young, Trevor Keels. Only players on standard contracts are eligible for the playoffs.

Another option for the Heat is to sign a veteran replacement or a developmental player from another G League roster. Players who have been on other NBA rosters (outside of 10-day contracts) after March 1 are ineligible for another team’s postseason roster.

In the end, Rozier wound up appearing in 95 regular-season games over two seasons with the Heat, including 53 starts, averaging 12.5 points on .404 shooting from the field and .323 shooting on 3-pointers.

Rozier did not appear in the playoffs with the Heat, due to injury.

While Rozier’s status on the personnel market had been unclear earlier this season as he first was arrested in the FBI gambling probe and later charged with federal wire fraud and money laundering conspiracy, the Heat had been informed by the league that they are allowed to waive Rozier.

While Rozier has not played for the Heat this season, having been arrested in Orlando on Oct. 23 in the hours after the Heat’s regular-season opener against the Magic, his contract became fully guaranteed at the NBA’s Jan. 10 deadline, with an arbitrator later ruling the league could not withhold Rozier’s salary in an escrow-type account, as initially had been done.

Rozier, 32, was arraigned in December in Brooklyn federal court, pleading not guilty to the charges of conspiracy to commit wire fraud and conspiracy to commit money laundering. He was released on a $3 million bond secured by his home in South Florida.

Should he be found guilty or reach a plea deal, it is possible the Heat would be able to claw back his salary, which this season has fully counted against the Heat’s salary cap and luxury tax.

The Heat bypassed a January opportunity to save the $1.7 million non-guaranteed portion of Rozier’s $26.6 million 2025-26 salary in order to sign another player, preferring to retain his salary for a possible deal at the Feb. 5 NBA trade deadline. The Heat then were idle at the deadline, with Rozier listed nightly by the Heat as “not with team.”

The Heat also did not make a move at the March 1 buyout deadline, as Rozier remained on the Heat’s standard roster.

Among the prime reasons Rozier was not waived earlier is that teams carrying a full complement of 15 players under standard contract are allowed to have players under two-way contract available more often.

When a team is operating at 14 or fewer under standard contract, the total number of games all of the team’s two-way players can be active on game nights is 90, otherwise with each two-way player eligible to be active a maximum of 50 regular-season games.

Rozier is accused of being part of an illegal betting scheme in which he allegedly alerted gamblers he intended to leave a game early in order to make money off a prop bet tied to his performance. That game was when he still was a member of the Charlotte Hornets.

The Heat last month were awarded a draft pick by the NBA in this June’s second round from the Hornets in light of Charlotte not making the Heat aware of Rozier being under gambling investigation while still with the Hornets. Rozier was traded to the Heat on Jan. 23, 2024, in exchange for Kyle Lowry and a future first-round pick that is top-14 protected in 2027 or otherwise unprotected in 2028.