The Miami Heat were Kyle Lowry's preferred team if he was traded at the deadline, sources tell Kevin O'Connor of The Ringer. Lowry's close friendship with Jimmy Butler is cited as the driving force of that preference.

The Heat can realistically create approximately $26 million in cap space while keeping the cap holds of Duncan Robinson and Kendrick Nunn. While it would be short of max cap space, it is the type of number Lowry is reportedly seeking in free agency.

The Los Angeles Lakers and Philadelphia 76ers were the two other teams to pursue Lowry at the deadline and neither will have cap space. 

Beyond Miami, the only teams projected to have cap space are the Chicago Bulls, Cleveland Cavaliers, Charlotte Hornets, New York Knicks, Dallas Mavericks, San Antonio Spurs and Toronto Raptors. Toronto is likely the only other threat to the Heat in their efforts to sign Lowry.