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The Grizzlies and Bucks are among the teams having ongoing discussions about the possibility of a Jimmy Butler trade, according to John Gambadoro of Arizona Sports 98.7 (Twitter link).

Gambadoro notes that the Heat are exploring their options and weighing whether it makes more sense to trade Butler now or in the offseason via sign-and-trade (or possibly opt-in and trade).

Memphis has been a popular subject of speculation as a Butler destination in recent days, since the Grizzlies have a deep roster, all of their own draft picks, and multiple sizable contracts that are relatively team-friendly. They’re also known to be in the market for a defensive-minded wing, having been linked to Dorian Finney-Smith (before he was traded to the Lakers) and Cameron Johnson.

In a subscriber-only article, Chris Herrington of The Daily Memphian explores what a Grizzlies trade for Butler might look like, though he cautions that he’s skeptical about the idea and refers to it as unlikely.

It would be more difficult for Milwaukee to make a move for Butler, since the Bucks are operating about $6.5MM over the second apron and don’t have a single player whose salary matches or exceeds Butler’s $48.8MM cap hit. The Bucks would only be permitted to aggregate salaries in a trade if they move below the second apron upon the conclusion of the transaction and leave themselves with enough room below the second apron to eventually get back to the required minimum of 14 players.

Based on my back-of-the-napkin math, that would likely mean starting with a package of Khris Middleton and MarJon Beauchamp and adding either Brook Lopez or – more likely – both Bobby Portis and Pat Connaughton. A third-team facilitator would also be necessary, since the Heat can’t take back more salary than they send out. And all three teams would have to agree on draft-pick compensation.

Even if the Bucks could figure it out, it would mean giving up multiple key rotation players in exchange for one, further depleting their depth.

Here’s more on Butler:

• Bradley Beal‘s no-trade clause “looms large” in the Suns‘ pursuit of Butler, according to Gambadoro (Twitter link), who says he’s heard the veteran guard would approve a deal to the Heat, Nuggets, or Los Angeles (presumably either the Lakers or Clippers). Beal may also ultimately decide there are a few other destinations that would work for him, Gambadoro adds. Given his massive contract and declining production, any club Beal approves would seek significant sweeteners and would probably want him to remove his no-trade clause going forward. Miami has zero interest in him, per multiple reports.
• There has been some chatter about the idea of the Pistons taking on Beal in a trade that sends Butler to the Suns (and Tobias Harris and Tim Hardaway Jr. to Miami), given Jaden Ivey‘s leg injury, Detroit’s cap room, and various connections – familial and otherwise – between the Pistons’ and Suns’ front offices. Gambadoro tweets that it doesn’t make much sense to him that the Pistons would want Beal unless they were heavily incentivized to take him, but says he needs to do more digging on that subject.
• Even if Beal were to waive his no-trade clause for Detroit (hardly a lock), I share Gambadoro’s skepticism about the appeal for the Pistons. While it’s true Detroit could use a short-term Ivey replacement, Beal’s maximum-salary contract is worth nearly $111MM across two more seasons beyond this one, and Phoenix probably doesn’t have enough tradable draft assets to sufficiently sweeten the pot for both the Heat and Pistons.
• In a SiriusXM NBA Radio appearance (Streamable audio link), Ira Winderman of The South Florida Sun Sentinel confirms that there are three- and four-team scenarios involving Butler and Beal being explored. Winderman also wonders if the Suns’ decision to remove Beal from their starting lineup is at least in part about nudging him to be more open about waiving his no-trade clause.