Terry Rozier, who was arrested as part of illegal sports betting investigation, released by Heat: report

Miami Heat guard Terry Rozier, who was arrested in October as part of an FBI investigation into illegal sports betting, was reportedly released by the team on Friday.

Rozier, 32, had been away from the team since his arrest and was placed on leave by the NBA for his alleged involvement in illegal sports betting during his time with the Charlotte Hornets. ESPN first reported his release.

Rozier pleaded not guilty to counts of conspiracy to commit wire fraud and money laundering in December.

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During a game in 2023, Rozier played fewer than 10 minutes, citing a foot injury. Multiple people placed high-stakes wagers on Rozier to play poorly before the game, and all of those individuals won their bets.

Rozier, who signed a four-year, $96.3 million contract extension in 2023, will have his contract come off the books after the season. The $26.6 million he was supposed to earn this season was placed in escrow as his case plays out.

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The Hornets traded Rozier to the Heat in January 2024, a trade that has come under scrutiny in light of the allegations. The Heat were not aware of the federal and NBA investigations into Rozier at the time of the trade.

After the allegations came forth, the Hornets agreed to give the Heat a second-round pick in the upcoming draft.

For the Heat, the reported release of Rozier allows them to free up a roster spot heading into the playoffs.

The Heat, at 41-39, are currently 10th in the Eastern Conference and are set to make the Play-In Tournament, as the 11th place Milwaukee Bucks are 31-49 and nowhere close to competing for the final spot.

Fox News' Ryan Morik contributed to this report.

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