The Miami Heat are acquiring Charlotte Hornets guard Terry Rozier for guard Kyle Lowry and a protected 2027 first-round pick, sources told ESPN on Tuesday morning.
The deal lands the Heat a gifted scoring guard who's having one of his best NBA seasons -- averaging 23.2 points and 6.6 assists a game.
The Hornets (10-31) -- who are beginning to accumulate future assets ahead of the Feb. 8 trade deadline -- will get a lottery-protected pick in 2027 that becomes unprotected in 2028, sources said.
Charlotte is discussing other deals on its veteran players ahead of the trade deadline and plans to continue accumulating assets, sources told ESPN.
The Hornets will work to move Lowry, 37, onto another team before the deadline, but short of finding a deal for him and his $29.6 million expiring contract, he could eventually become a contract buyout candidate, sources said.
The Heat will save $15.4 million in luxury tax on the trade and create a $6.4 million trade exception.
Under new ownership in Rick Schnall and Gabe Plotkin, the Hornets are planning to build around young players LaMelo Ball and rookie Brandon Miller and gather up draft assets and young players in potential deals.
With the Heat 24-19 and sixth in the Eastern Conference, Rozier, 29, gives them some more dynamic guard play and hope that he can help them make another run in the Eastern Conference playoffs this year and beyond.
ESPN's Bobby Marks contributed to this report.