Jimmy Butler #22 of the Miami Heat dunks against the Milwaukee Bucks (Photo by Stacy Revere/Getty Images)
Jimmy Butler, the leader of the Miami Heat’s two NBA Finals appearances in recent years, has become one of the league’s most talked-about players as the trade deadline approaches.
While Butler remains a pivotal figure for Miami, his long-term status with the team is under scrutiny amid reports of trade discussions and contract uncertainty. If a trade occurs, Butler prefers destinations like the Phoenix Suns, Houston Rockets, Golden State Warriors, and Dallas Mavericks. The Heat must decide whether to act now or wait until the offseason.
Butler’s Performance and Contract
Butler remains a productive player, averaging 18.6 points, 5.3 rebounds, 4.7 assists, and 1.2 steals per game this season while shooting a career-high 55.0% from the field. However, his scoring average is the lowest since joining Miami, as Herro and Bam Adebayo have taken on more prominent offensive roles.
The financial element looms large in Miami’s decision-making. Butler has a $52.4 million player option for next season, which he is unlikely to exercise. This creates a risk for the Heat: they could lose him for nothing in free agency if no trade materializes.
Butler, for his part, has embraced the speculation.
“It’s good to be talked about,” Butler said. “I don’t think there’s such a thing as bad publicity—to a point.”
Still, he downplayed the significance of the rumors.
“My kids matter, my happiness matters, my well-being matters, and my family matters,” Butler said. “Right now, it’s all about competing, staying healthy, playing some great basketball. I think I’ve done that so far, so we’ll see what we got.”
Spoelstra Dismisses Speculation
Heat head coach Erik Spoelstra has quickly shut down the rumors surrounding Butler, focusing instead on the team’s current success.
“It’s been our best, most consistent stretch of the season,” Spoelstra said. “So, anything else, any other narrative, I don’t care. Nobody should because most of this stuff has just been all like a bunch of gibberish.”
The Heat, riding a four-game winning streak, are building necessary momentum. Spoelstra also compared Tyler Herro’s experience with trade speculation.
Evaluating Trade Options
If Miami decides to trade Butler, any acquiring team will likely push to extend his contract. His potential trade bonus would increase his salary to $49.2 million, allowing him to sign a two-year extension immediately. Alternatively, Butler could decline his player option in 2025 and negotiate a four-year deal using full Bird Rights. The Heat could also hold onto Butler through the deadline and revisit their options in the offseason.
Reports from ESPN and The Athletic indicate Miami is open to listening to offers for Butler. Each potential destination offers advantages and challenges:
Golden State Warriors
The Warriors have expiring contracts, young talent in Jonathan Kuminga, and draft picks to offer. Adding Butler to a core of Stephen Curry, Draymond Green, and Andrew Wiggins could enhance Golden State’s championship hopes while giving Miami assets to retool.
Various NBA front office personnel who have spoken with RG expect the Warriors to exhaust their options in trying to add another star to pair with Stephen Curry. Golden State has attempted to acquire names like LeBron James, Paul George, and Lauri Markkanen to varying degrees over the past year. The Warriors are the contender considered the most likely to make a significant trade.
Given how significantly the Warriors have struggled to find a base identity with Jonathan Kuminga and Green, a trade could be a logical outcome to find the right fit.
Houston Rockets
The Rockets have significant draft capital and young talent but may hesitate to pursue Butler. Keeping their young talent remains a priority, and Houston may prefer to save its assets for a future opportunity that better aligns with its current timeline.
The messaging from Houston has been transparent regarding the intent to keep this growing young core together. On Tuesday, rockets general manager Rafael Stone told SiriusXM NBA Radio that the plan is to finish the season with the current roster. This aligns with what RG has heard from around the league when prominent names have been floated in trade rumors.
It’s not unfounded that a front office move would later contradict messaging when the right opportunity arises. However, the Rockets have been careful about establishing a long-term foundation to contend with the right balance of veterans around them eventually.
There are options for the Rockets to make roster moves at the deadline, whether it’s for Butler or not. Houston holds a $12 million expiring contract for Steven Adams, in addition to Jeff Green ($8 million) and Jae'Sean Tate ($7.6 million) being on expiring deals. The team also has Jock Landale’s non-guaranteed contract worth $8 million this season at their disposal to utilize.
Dallas Mavericks
The Mavericks have been floated as an option, primarily due to being a Texas-based team and a contender. While some may be intrigued by Butler complementing Luka Dončić and Kyrie Irving on the wing, Dallas faces logistical hurdles in making a deal work during the regular season, as various members of rival front offices have indicated to RG. If the Mavs make a midseason move, it’s likely to bolster the bench frontcourt rotation, while trading for Butler would deplete it.
Currently, the Mavericks are $526,220 below the first apron, so they must match Butler’s $48.8 million salary while staying under cap restrictions. A trade could involve sending Klay Thompson ($15.9 million), P.J. Washington ($15.5 million), Daniel Gafford ($13.4 million), Maxi Kleber ($11 million), and Naji Marshall ($8.6 million) to Miami, along with Markieff Morris ($2.1 million). For a Mavericks team that benefited from improving its depth to reach the NBA Finals last season, many consider them likely to balk at such an idea. Additionally, Miami would likely need additional teams to reroute players and reduce its luxury tax bill to justify such a move.
Given how crucial three-point shooting was emphasized for the Mavericks coming off an NBA Finals loss, parting with Thompson would be more than a surprise. Washington has been a supremely important option at power forward, as Dallas has gone 15-4 when he plays this season versus 1-5 when he does not. The Mavs strongly value having a center tandem after years of needing rim protection.
Phoenix Suns
While Butler may want Phoenix as an option, a deal involving the Suns will be complicated by nature. Considering they operate in the Second Apron, the Suns cannot take on any additional salary and face heavy restrictions regarding trade mechanics.
In recent years, the Heat has attempted to add starpower to pair with Butler. However, one option the team lacked interest in was Bradley Beal before he got moved from the Washington Wizards to the Suns, sources informed RG. That stance is unlikely to differ now—creating an apparent obstacle among other factors.
Beal will be 32 in late June after earning $50.2 million this season, with over $110.7 million more incoming through 2026-27. If the Heat are unwilling to take on this contract, it would surely require finding a third team, which seems daunting. Beal’s no-trade clause adds even greater complexity to the situation.
Grant Afseth
