Houston receives Avery Bradley, Kelly Olynyk and a draft swap in the deal, per The Athletic’s Shams Charania.
Oladipo was traded to Houston from Indiana earlier this season in the blockbuster that sent James Harden to Brooklyn. It marks the fourth time Oladipo has been traded thus far in his career.
The two-time all-star has been his usual productive self this season, averaging 20.8 points, 5.0 rebounds and 4.7 assists in 29 games split between the Pacers and Rockets. His defensive prowess will fit in well with Jimmy Butler in Miami, giving the Heat a potent two-way star combination.
Oladipo, 28, rejected a two-year contract extension from the Rockets earlier this month and is scheduled to hit free agency at season’s end. Miami has long been rumoured to be one of his preferred destinations, so it’s possible this trade will be more than just a rental for the Heat.