MIAMI — With (most) of the Miami Heat’s offseason work in the books, stock certainly can be taken a month out from the start of the franchise’s 39th training camp.

Unlike offseasons when the comings did not necessarily have much to do with the goings, this very much has been a summer when those two groups can be measured against each other.

Because to get a lot, the Heat, indeed, had to give up a lot.

Putting aside the future draft capital spent in the Giannis Antetokounmpo deal, considering none of that comes due until the 2030s, taking stock arguably best can be handled by weighing such a weighty manner – at least in terms of how the scale balanced out.

So while some of the comparisons might come off as apples to oranges (or, more largely, Heaters to Bucks), the comparisons seemingly tip the scale — at least in the moment — in the Heat favor.

Tyler Herro (out), Giannis Antetokounmpo (in): Yes, completely different players at completely different positions. But, basically, also leading men for their teams in recent years.

Herro went out as the best player in the trade for Antetokounmpo; Antetokounmpo stood as the best player dealt this offseason.

Both are due contact extensions, clearly with a greater comfort zone in extending Antetokounmpo based on enduring productivity, rather than reward Herro’s questionable availability.

The best player dealt this summer by the Heat is not as good as the best player acquired by the Heat. Asked and answered.

Kel’el Ware (out), Bobby Portis (in): If the debate comes down to living in the moment — which clearly is the case with this summer’s Heat moves — then Portis stands as the more reliable contributor at the moment.

Perhaps an even better way to put it would be that Portis arrives with the trust of Erik Spoelstra, something Ware assuredly had yet to earn from the Heat coach.

Ware as the better two-way player of the duo? Arguably, if not definitively.

But a case can be made that Portis’ best ability (his scoring) is better, or at least more consistent, than Ware’s (rebounding).

Did the Heat sell out some of their future in this tradeoff? Absolutely. But that also is who the Heat are and always have been under Pat Riley.

Norman Powell (out), Klay Thompson/Tim Hardaway Jr. (in): Is Powell, a 2026 NBA All-Star, the better player at the moment than either Thompson or Hardaway? It would be difficult to argue otherwise.

But also consider that the Heat added Thompson and Hardaway at a combined salary about half of what Powell will earn this season from the Chicago Bulls.

For all he accomplished in his lone season with the Heat, the greatest reliance on Powell was with his 3-point shooting. Now the Heat can instead come out with dual barrels blazing.

Powell converted 156 3-pointers last season; Thompson and Hardaway made 426.

Jaime Jaquez Jr. (out), Pelle Larsson (even more in): Jaquez set the bar for the Heat’s second unit last season with his relentless attacking in the open court. Now, with Jaquez out of the way, Larsson figures to get a similar opportunity among the reserves.

While Larsson isn’t the same finisher, he was the better 3-point shooter of the two last season and is unquestionably the better defender than Jaquez, something that will be essential to help balance out a second unit that could feature both Portis and Hardaway.

Nate Ament (out), Ryan Conwell (in): Ament, the forward out of Tennessee, was taken with June’s  No. 13 pick that the Heat sent to the Bucks in the Antetokounmpo trade. Conwell was the guard out of Louisville that Heat got with the No. 37 pick in the second round.

Based on their win-now approach, it might have been difficult for any draft pick to crack the Heat’s 2026-27  rotation, but in Conwell the Heat believe they still landed a first-round talent, one who yet could come into play as an offensive boost.

Based on those drafted after Ament, it’s not as if anyone necessarily got away from the Heat by the dealing of the pick in the Antetokounmpo package.

Kasparas Jakucionis (out), Tre Donaldson (in): This one is more difficult to offset, if only because of the promise Jakucionis showed with his growth at the end of last season’s rookie campaign.

But one thing Adam Simon, Keith Askins, Eric Amsler and the Heat scouting staff have done is find undrafted youth that has the potential to be turned into draft-quality contributors.

Perhaps that is Donaldson, the undrafted University of Miami guard who was signed to a two-way deal. Perhaps it turns out to be one of the undrafted players who had their Heat moments during summer league.

The bottom line is the Heat gave up a lot this summer, but at a net gain.

The final tally won’t be fully accounted for until those draft picks in the 2030s come due.

But when it comes to the choice of last season’s Heat roster or this season’s Heat roster, is it really a debate, at all?

IN THE LANE

QUICK STUDY: There certainly was an encouraging moment Thursday for those believing that Pelle Larsson can fill the Heat shoes of since-dealt Jaime Jaquez Jr. when it came to Jaquez finishing as runner-up last season for NBA Sixth Man of the Year. Not only did Larsson close with 31 points in Sweden’s victory over Lauri Markkanen and Finland in World Cup qualifying, but he talked some impressive talk after a performance that included 11 of 14 from the foul line. “Just being aggressive, trying to attack every moment,” said the 2024 second-round pick out of Arizona. “I mean, just trying to be ultra-aggressive.” Larsson lamented his five turnovers, “so that wasn’t great.” But he said plenty that should be Heat-heartening moving forward. “Overall, just whenever I get the ball, I try to be aggressive. So they either got to let me score, foul me, or leave an open guy.” Up next for Larsson and Sweden is a Sunday test at home against Victor Wembanyama and France.

WHAT A TIME: For the first time in the franchise’s 39 seasons, the Heat have, for now, lost a player . . . to college. Auburn forward Keyshawn Hall, who thrived with the Heat at summer league, had been on the verge of an Exhibit 10 contract with the team for training camp. Based on a $91,000 guarantee and G League salary, a six-figure pro payday would have practically been guaranteed. Instead, Hall went for the bigger cash in college, cashing in with Rick Pitino’s St. John’s program, giving Hall his fifth school in as many seasons (UNLV, George Mason, Central Florida, Auburn and now St. John’s). Summer league has been many things for the Heat over the years. Until now, it had not been an NCAA showcase. Worth noting with Hall is he never actually signed his Heat Exhibit 10 contract, unlike others who signed professionally and then attempted collegiate returns. Should the NCAA rule against Hall’s bid, he would be eligible to sign with the Heat or any NBA team.

GIVING GRACE: For as much as the Heat are known for their work ethos and culture, often missed is the grace granted over the years by Pat Riley and Erik Spoelstra. Yes, Alonzo Mourning and Udonis Haslem were late to practices. Yes, Jimmy Butler was given considerable latitude when it came to the decision to appear at home shootarounds. So take with a grain of salt the consternation Golden State Warriors forward Draymond Green expressed on his podcast about new Heat addition Klay Thompson tending to run on Klay Time. “I love the move,” Green said of the signing by his former teammate. “I love this for Klay. I know Klay is happy he’s in Miami. He’s around water. I know this move makes him a happy man. I think this is a very great move for Klay. He was late to the press conference because he was stuck in traffic – that is Klay Thompson. I found it interesting, Klay going to Miami. I said, ‘Oh that Heat culture thing.’ I don’t know how that’s going to work for Klay, because Klay moves to the own beat of his own drum.’ I want to see how that fits into the Heat culture stuff.”

REAL DEAL: When it comes to what is required from the Heat, the truest insight comes from those who have been there. That had former Heat guard Joe Johnson offering his thoughts on the Nightcap podcast. “I’m telling you,” Johnson said, “Pat ain’t playing with all that. The small duration time that I was there, I never seen him show favoritism, and everybody showed up way before time. I’m serious, it’s a real thing. I hear what Draymond is saying, that Klay moves to the beat of his own drum. Hell no, it’s not going to happen. They don’t move like that, they don’t work like that.”

NUMBER

11. Number taken by Klay Thompson with the Heat, the same number he wore with the Golden State Warriors. Previous players to wear No. 11 for the Heat were Craig Neal, Sherman Douglas, John Crotty, Todd Day, Rafer Alston, Chris Quinn, Zydrunas Ilgauskas, Chris Andersen, Dorell Wright, Dion Waiters, Avery Bradley, KZ Okpala, Jamaree Bouyea and Jaime Jaquez Jr. Thompson said among the reasons he has valued the number is it was part of his street address growing up, that he was the No. 11 pick in the 2011 NBA draft and K is the 11th letter in the alphabet.