The 2026 NBA preseason officially got underway last night as the new-look Miami Heat defeated the Toronto Raptors 129-106 in Quebec City. Here is a look at the top storylines and what it means going forward.

Antetokounmpo Makes Promise, 2 Youngsters Thrive for Heat

Miami is coming off a season where they missed the playoffs for the first time in seven seasons. While the Heat have the ninth-best record this decade, they have not won a playoff series in three seasons. As a result, the Heat decided to rebuild their roster by bringing in Giannis Antetokounmpo, Bobby Portis,Klay Thompson, and Tim Hardaway Jr. Overall, they added six newcomers.

Miami has 21 players in training camp, with 14 on standard contracts and three on two-way deals. The Heat are expected to start the season with an open roster spot as they are just $2.5 million below the first apron, where they are hardcapped. Still, they have a lot to figure out.

Of course, head coach Erik Spoelstra will have to figure out his rotation and how to maximize his newcomers. Specifically, Spoelstra will need to address spacing issues for Antetokounmpo and Bam Adebayo, as both are at their best in the paint.

Meanwhile, Toronto had a pretty quiet offseason, aside from the Kawhi Leonard trade. The Raptors will look to build off their first playoff appearance in four seasons last season when they finished sixth in the East. The Raptors have six newcomers on the roster, though most of those are end-of-bench players.

The main thing Raptors head coach Darko Rajakovic will have to figure out is how to manage Leonard’s minutes while also integrating the 35-year-old into his teammates. Rajakovic also needs to figure out his frontcourt rotation, specifically who is behind Collin Murray-Boyles.

Toronto has a full 21-man training camp roster. The Raptors have 14 players on standard contracts and all three of the two-way spots filled. All players on standard deals are guaranteed, and they are just $938,598 from being hardcapped at the first apron. So, their 15-man roster is essentially set.

Miami’s Rotation Appears Set

The Heat wasted little time jumping on the Raptors with their new starting lineup led by Antetokounmpo and Adebayo. Those two were joined by what figures to be the Heat’s starting five to begin the season with Thompson, Davion Mitchell, and Andrew Wiggins. Antetokounmpo was terrific in his debut, tallying five points, making both of his field-goal attempts, and dishing out four assists in the first seven minutes as the Heat led 20-12 when Spoelstra took his first unit out.

With the starters out, Miami extended their lead to 41-22 heading into the second quarter. Simone Fonteccchio, Nikola Jovic, Pelle Larsson, Tim Hardaway Jr., and Bobby Portis project as Spoelstra’s primary second unit. Spoelstra put the starters back in at the start of the second quarter, and the Heat pushed their lead to 21 at halftime.

While Wiggins — who made 4-of-6 three-pointers — and Antetokounmpo — 9 points on 3-of-3 shooting and 7 assists — were terrific, it was the Heat’s second unit that carried the team. The Heat’s bench outscored the Raptors’ bench 95-57, and they were a cumulative +18. Hardaway and Larsson were also outstanding, combining for 27 points on 7-of-7 shooting. Nikola Jović also had a strong overall game.

“He makes great plays,” Spoelstra said about Antetokounmpo’s first game with the organization. “We knew that about him. We faced him in the playoffs three times. But when you really see it in practice every day this week, you appreciate how brilliant a playmaker he can be.

“With the size and the vision and his ability to put it on the numbers to shooters is really impressive,” Spoelstra continued. “Pat (Riley) was at practice all week and the way he’s played with the ball in his hands and delivering the ball, he reminds all of us of a great big point guard that played for Pat back in the ’80s.”

3-Point Shooting Concern

Miami was an average 3-point shooting team in 2025-26. Last year, the Heat were 15th in 3-pointers made per game (13.7) and attempts per game (37.8), but only 11th in 3-point percentage (36.1%). But their top two shooters — Norman Powell and Tyler Herro –are no longer in South Beach. Neither is Kasparas Jakučionis, who knocked down 1.2 triples at a team-best 42.3% clip.

Granted, the Heat brought in Thompson and Hardaway Jr. — two of the best long-range bombers of all time, though both are long in the tooth. Thompson, coming off a career-worst season, still knocked down three treys per game at 38% last year, while Hardaway compiled his best shooting campaign, draining 40% of his seven three-point attempts.

Miami shot 49% from the field against Toronto, including 14-of-40 from deep (35%). Hardaway and Wiggins combined for seven of their 14 treys.

Pelle Larsson and Tre Donaldson Starring at Camp

Larsson took a major step last season and was rewarded with a four-year, $60 million deal this summer. Larsson also appears to be slated to be the Heat’s primary backup behind Mitchell this upcoming season. He registered a usage percentage of 24% against the Raptors.

The 6-5 guard, who is versatile enough to play four positions, showed massive improvement as a playmaker in year two, averaging 3.4 assists compared to 1.4 turnovers. He had 2o games of 5-to-9 assists.

“I think I was pretty blank,” Larsson told Ira Winderman of the Sun-Sentinel. “It was kind of similar things of they’re giving me this extension for a reason, so just keep doing what I’ve been doing and being who I am on the court. And now we’re bringing in some new guys that I think I’m going to fit well with, and I can continue to do the same thing, try to be more efficient in the things I’m doing.”

In last night’s game against the Raptors,  Larsson was superb. The 25-year-old finished with 13 points, 2 rebounds, 2 assists, and 2 steals in 11 minutes. He was 3-for-3 from the field and 7-for-7 from the free-throw line.

Tre Donaldson

Tre Donaldson is a 6-3 combo guard who went undrafted out of Miami (FL) this past June. However, Donaldson found a landing spot with the Heat shortly after the draft, inking a two-way deal on July 3. He has impressed in camp, per Anthony Chiang of the Miami Herald.

“He’s just a dog,” Mitchell told Chiang. “It kind of reminded me of myself when I was in the league, just trying to figure it out. Playing hard. Still making mistakes, obviously, but you learn from those mistakes. But he’s playing really well with all the confidence in the world. I’m excited to see him grow.”

Donaldson struggled shooting against the Raptors last night, missing 4 of his 5 shots, including all three of his 3-pointers. Donaldson was 4-for-6 from the free-throw line and finished with six points. He also doled out three assists and recorded a steal in 16 minutes.

The Last Word on Antetokounmpo Makes Promise, 2 Youngsters Thrive for Heat

It was just one preseason game, and the Heat have a right to feel good. But Antetokounmpo did take it a little too far before the preseason opener against Toronto, when he predicted the Heat would win a championship during his time with the organization. In his 13 seasons in Milwaukee, the two-time MVP has only reached two Eastern Conference Finals and won one NBA championship.

“It’s going to happen, Antetokounmpo said in a WPLLocal 10 interview. It’s going to take time. We’re preparing for something that will take place in June. I know the people next to me share the same mindset. Bam wants to win. Coach wants to win. The organization wants to win. We’ll be at the place we’re supposed to be”

Giannis on winning a championship with the Miami Heat:

“It’s going to happen. It’s going to take time. We’re preparing for something that will take place in June. I know the people I have next to me have the same mindset. Bam wants to win. Coach wants to win. The organization wants to win. We’ll be at the place we’re supposed to be”

(@WPLGLocal10) 🔥

— Heat Central (@TheHeatCentral) October 3, 2026

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Photo Credit:  David Kirouac, Imagn Images via Reuters Connect