10:32am: The Warriors, viewed near the start of the month as an unlikely suitor for Butler, are one of the teams back in the mix now that the Heat have lowered their asking price, reports Kevin O’Connor of Yahoo Sports (Twitter link).
Ira Winderman of The South Florida Sun Sentinel hears from a source that the Heat would be satisfied to receive a “potential contributing” player on a one- or two-year contract, expiring salary, and a pair of draft picks in exchange for Butler.
9:48am: The Heat are “cautiously optimistic” about the possibility of making a Jimmy Butler trade before the February 6 deadline, according to Barry Jackson and Anthony Chiang of The Miami Herald, who report that Miami has been engaging “several” teams besides the Suns.
While Phoenix has long been viewed as Butler’s preferred landing spot and the team most willing to give the 35-year-old the maximum-salary contract he’s seeking, the Suns haven’t had much luck finding a trade structure that works, per The Herald.
Bradley Beal would have to be sent to a third team in order for the Suns to acquire Butler, since Phoenix can’t aggregate contracts and Miami isn’t interested in the veteran guard, who has two more years and nearly $111MM left on his contract after this season.
Finding a taker for Beal has been a challenge, especially since he has the ability to veto any deal using his no-trade clause. While Beal is reportedly open to waiving that clause to join a contending team, ideally one in a warm-weather city, he also seems to be comfortable with the idea of remaining in Phoenix, according to Michael Scotto of HoopsHype.
Appearing on ESPN (Twitter video links), NBA insider Brian Windhorst backed up the notion that the Heat are talking to teams besides the Suns about Butler and said Miami is “really, really trying to make this happen,” adding that the team’s asking price on Butler has dropped a little from where it was earlier in the month.
“Obviously, the Phoenix Suns have tried to get this done for weeks,” Windhorst said on SportsCenter. “They have tried three-, four-, five-team machinations. They have not been able to overcome the fact that what they’ve really got to trade is Bradley Beal, who has a no-trade clause and not a very big market. So now I do believe this is going to bring in some other teams. We could see some surprising moves in this little battle in the next couple of days.
“… I am not saying for sure this is going to happen. I’m not predicting what’s going to happen. But I do think some teams that thought they were out of this are coming back in because it doesn’t look like the Suns and Heat are going to be able to consummate a deal. I think we might see a team swoop in here and get Jimmy Butler at a cheap price. A guy who can be the best player in a playoff series at a bargain price.”
Windhorst went a step further during an appearance on ESPN’s First Take on Tuesday morning (Twitter video link).
“Jimmy Butler’s going to get traded,” he predicted. “I wasn’t sure about that maybe seven to 10 days ago. I really am more sure than ever that that’s going to happen.”
The Heat announced on Monday that they’ve suspended Butler for a third time. Following a five-game suspension earlier this month and a two-game suspension that just concluded on Saturday, the latest suspension is an indefinite one and was said to be for “withholding services.” That means it will cost Butler 1/91.6th of his $48.8MM salary for each game he misses — the previous suspensions for conduct detrimental for the team cost him 1/145th of his salary per game.
Since word of Butler’s desire to be traded first broke last month, reports have indicated that the Heat are willing to hang onto the six-time All-Star through this season and revisit trade talks in the summer if they don’t get the sort of return they want by February 6. The club is said to be prioritizing win-now players with contracts that don’t extend beyond 2025/26.
However, with the standoff between the two sides continuing to escalate, it appears increasingly untenable for Butler to remain on the roster for several more months, which is why the front office is more motivated than ever to find a viable deal.
As Jackson and Chiang point out, while Butler’s camp has long conveyed that he intends to decline his 2025/26 player option in favor of free agency, the veteran forward could make life difficult on the Heat by picking up that option in June and essentially putting Miami back in the same situation it’s in now — with a disgruntled star on a maximum-salary deal, hamstringing the team’s ability to improve the roster around him.
Additionally, while the Heat are theoretically saving some money as a result of Butler’s suspensions, team-imposed suspensions don’t affect a team’s tax bill, and based on existing precedents, it’s very possible Butler will regain a chunk of his lost salary through the appeal process. In other words, the financial incentives to continue suspending him are minimal.
Neither Windhorst nor the duo of Jackson and Chiang named specific teams outside of Phoenix that might be exploring a deal for Butler. Previous reporting has indicated that the Grizzlies have kicked the tires on the possibility, despite being warned against it, while Marc Stein said on Monday that rival clubs continue to wonder if the Bucks will get involved.
