The latest chapter of the saga involving Miami Heat star Jimmy Butler and a possible trade was the latest reporting from ESPN's Shams Charania about the team being open to a move and the forward's preferred destinations. It comes at an interesting time when the Heat just beat the Cleveland Cavaliers in their biggest victory of the season amidst a three-game winning streak.
“Every trade deadline period, there are players who emerge as key figures to watch — those who could shift the balance of power in the NBA,” Charania wrote. “This season, all eyes will be on Miami Heat six-time All-Star Jimmy Butler.”
“Butler, 35, is one of the NBA's elite competitors and is a perennial postseason performer,” Charania continued. “His teams have made the playoffs in 12 of his first 13 seasons, including the five previous seasons in Miami, where he has led the Heat to two NBA Finals berths and one additional Eastern Conference finals appearance…Butler has $49 million on his contract for this season — with a $52 million player option for 2025-26. The sides did not reach an extension last summer.”
Still, the expectation is that Butler, by the offseason, will opt out of his current deal and become a free agent, open to signing with another team or coming back to Miami on a new contract. If the team wants to be ahead of the curve and feel Butler would leave the Heat, they would probably have at least some assets in return.
According to the Charania report, Butler would be open to being traded to the Houston Rockets, the Dallas Mavericks, and the Golden State Warriors. Here is a ranking from best to worst of the teams preferred by Butler and the assets they have:
Rockets trade framework for Heat's Jimmy Butler
Miami Heat forward Jimmy Butler's (22) looks on before the game against the Cleveland Cavaliers during the first half at Kaseya Center.
Rhona Wise-Imagn Images
Out of the three teams, the Rockets have the most financial flexibility to work with, along with having young talent that could interest Miami if a trade were to happen. Houston is one of the teams that Butler would be open to going to, per Charania and other reports, as besides having a talented core and a 16-8 record, he is a native to the city in Texas.
“The Heat are open to listening to offers for Butler and making a deal if the proposal is right, league sources told ESPN,” Charania wrote. “And Butler's agent, Bernie Lee, has indicated in league circles that Butler is open to destinations such as two of the Texas teams (Houston Rockets and Dallas Mavericks) and the Golden State Warriors. Butler is a native of Houston, Texas.”
The players on the Rockets that the Heat could be interested in
In terms of the players that the Heat could receive in a trade, it's possible they would be interested in getting the 22-year-old power forward Jabari Smith Jr. and possibly the polarizing star in Dillion Brooks. Smith could be a piece that the team sees as part of the foundation for the future, and for Brooks, some may say he fits the “Heat Culture” with his stalwart defense.
The trade could also lead to Miami receiving veterans like Jeff Green or Steven Adams to bring more depth, but the team might have to send one of their players, like Heat's Nikola Jovic, who has fallen out of the rotation. Also, it would not be surprising to see Houston throw in a first-round pick, possibly in 2027 or beyond.
It's important to remember that Miami will have to be careful in the amount they receive, though Butler would account for almost $49 million as they are close to the dreaded second apron.
A trade with Houston does provide some financial flexibility, as said before, with talent, which is why they are at the top of the three teams that Butler prefers. Still, it will be a complex trade to form.
Warriors trade framework for Heat's Jimmy Butler
It seems as if the talks of the Warriors having an interest in Butler have been prevalent for a while, as they could believe he is the missing piece to capture another championship. As Charania would write in his reporting, the team is looking for a “playmaker” and a “scorer,” and Butler fits the bill, especially when it matters in the postseason.
“Sources said the Warriors are looking to add a star player — a playmaker, scorer — alongside Stephen Curry and Draymond Green,” Charania wrote. “Golden State pursued Utah Jazz star Lauri Markkanen and Paul George as a free agent last offseason, and is expected to remain aggressive this deadline. A telltale moment happened for the Warriors on Friday night, when Curry, Green and coach Steve Kerr spoke about this being fourth-year forward Jonathan Kuminga's time to take the mantle and Green accepted a bench role for Kuminga to start at power forward.”
A look at what the Warriors have to offer
While the Rockets have some flexibility, the Warriors are more limited in what they can give and receive, especially with Butler, as he will cost close to $49 million to the cap, as said before. Golden State is just outside of the first apron, so to stay under, they could bring in a third team to facilitate a trade like this, but what would Miami want in this situation?
Well, a key player for the Warriors that has been in flux that could interest the Heat is forward Jonathan Kuminga, who has been starting for his team as Draymond Green has been relegated to the bench. Bleacher Report had their very own mock trade involving the Toronto Raptors as the third team, where Miami gets a sizable haul headlined by Kuminga.
They would receive “Jonathan Kuminga, De'Anthony Melton, Andrew Wiggins, Golden State's 2025 first-round pick, 2026 first-round swap (via Golden State), Golden State's 2027 first-round pick, Atlanta's 2028 second-round pick, Golden State's 2030 first-round pick (protected Nos. 21 to 30).”
There would be a problem with this trade would be that the Warriors would need to send more for Butler since they'd be taking back $2M when they are $500k below the first apron, where they are hard capped. As spoken about, a trade would be tricky and filled with limitations.
There is no doubt that Miami is getting back quite a bit here, but they would still have to stomach losing their stop star since 2019.
Mavericks trade framework for Heat's Jimmy Butler
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Now, this is where it gets very tricky. There is virtually no room here for financial flexibility, as a straight trade for Heat's Butler to the Mavericks is tough. It's improbable that Dallas would trade either Luka Doncic and Kyrie Irving, who both are making 43 and 41 million, respectively, as pairing that along with Butler, who is close to 49 million, is a large sum to take in without giving up a handful of players.
However, Butler has them listed as a destination as they are no doubt under a team that is a “win-now title contender” after getting to the NBA Finals the season prior and signing Klay Thompson in the offseason.
“Above all, though, he is believed to prefer a win-now title contender in any trade,” Charania wrote. “Teams have also been informed that Butler intends to opt out of his deal in the offseason and become a free agent, sources said. The Heat have hovered around the play-in tournament over the last two seasons, and with Butler's contractual status, they have been open-minded to trade inquiries.”
One would think Miami could get players like P.J. Washington or Daniel Gafford in the trade if it were to be made or for younger players like Olivier-Maxence Prosper and Jaden Hardy, but with the Mavericks being hard-capped at the first apron, challenges arise.
Like with the Warriors, a third team would help make the trade more possible, but both teams, the Heat and Mavericks, have to wonder if it's worth it at that point.
Should the Heat trade Jimmy Butler?
At the end of the day, the real question should be if the Heat want to trade Butler. As mentioned before, it's probably better to get something for him than nothing if he signs with another team, but the relationship could be rekindled in a new contract.
Plus, the team is currently in the best stretch of the season on a three-game winning streak that started when the Heat beat the Los Angeles Lakers by 41 points, then knocked off the Phoenix Suns and Cavs in this past weekend's back-to-back. The Heat could be at a turning point of the season, and trading Butler would no doubt set the team back tremendously despite the sizable package they could receive.
At any rate, the Heat are 12-10, which puts them fifth in the Eastern Conference, as their next game is Thursday against the Toronto Raptors.