Agent Greg Lawrence confirmed the decision to The Associated Press on Thursday night. ESPN reported it would be a four-year deal worth in excess of $50 million.
The deal has not been signed, though could be as early as Friday.
A 7-foot centre with 3-point range, Olynyk spent his first four NBA seasons with the Boston Celtics and played mostly as a reserve. He averaged 9.5 points in 278 regular-season games shot a career-best 51 per cent last season.
Olynyk’s deal means that for the Heat to complete the re-signings of James Johnson and Wayne Ellington — who are both still wanted by Miami — a deal will have to be swung to get rid of some salary and create more cap space. Josh McRoberts, who has played in only 81 games during his three injury-plagued seasons in Miami, would be the most likely candidate for a trade.
McRoberts is due to make just over $6 million next season.
Olynyk, from Kamloops, B.C., had a run-in with Heat centre Hassan Whiteside in 2015. Whiteside elbowed Olynyk in the head and was suspended for a game, though tracked down Olynyk’s number and offered an apology.
And now they’ll be teammates.
"He’s a good guy," Olynyk said after the apology.
The Heat value the corner 3-pointer, as many teams have in this NBA, and Olynyk could be a huge addition on that front. According to the NBA’s stat-tracking page, Olynyk was 18 for 32 this past season on corner 3-pointers — and was also a strong finisher at the rim, connecting on 73 per cent of his tries in the restricted area.
Olynyk had a pair of 26-point games for the Celtics last season, including one in Game 7 of Boston’s second-round playoff win over Washington.