MIAMI -- Bam Adebayo and the Miami Heat are working on a contract extension, the team said Tuesday.

Once the deal is finalized it will likely guarantee Adebayo at least $168 million over the next six seasons and perhaps as much as $200 million in that span.

Adebayo will make $5.1 million this season, the final year of his rookie contract. From there, the extension will kick in with a starting salary of somewhere around $28.1 million for the 2021-22 season. And if he makes an All-NBA team this season, something he narrowly missed doing this past season, his annual salary would only rise more.

The Heat had until Dec. 21 to agree with Adebayo on an extension this season, or else would have had to table the matter until next summer. Miami has said the team's intention was to give Adebayo a new deal -- the question was only when. By waiting until next summer, the Heat would have had more salary-cap flexibility.