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Heat Sign Steve Settle III, Waive Gabe Madsen in Preseason Roster Move

The 6-foot-10 wing is expected to develop with Sioux Falls on an Exhibit 10 track that includes potential bonus eligibility.

Overview

  • Miami announced the addition of forward Steve Settle III and the release of wing Gabe Madsen following preseason evaluations.
  • Settle agreed to an Exhibit 10 deal and is expected, per reports, to be waived to join the Sioux Falls Skyforce, making him eligible for a G League bonus of up to about $85,300 if he stays 60 days.
  • The Temple product started 31 games last season, averaging 12.6 points and 6.2 rebounds while shooting 41.6% from three and leading the Owls in rebounds, blocks, minutes and made threes.
  • Settle appeared in five Summer League games for Miami as the team assessed his fit as a 6'10" versatile wing with defensive tools and an improving perimeter shot.
  • Madsen had re-signed on an Exhibit 9 deal and played two preseason games for the Heat after a college career highlighted by becoming Utah’s all-time leader in made three-pointers.