In the big picture, it is a disappointment and a surprise to find that the Heat are willing to listen on trades for star wing Jimmy Butler, as reported by ESPN's Shams Charania on Tuesday. Butler had a hard time finding the right fit for his personality and hard-nosed approach to the game-he went from Chicago to Minnesota and on to Philadelphia, remember-but landing with fellow hard-nosed NBAers Pat Riley and Erik Spoelstra in Miami just seemed natural.
Butler led the Heat to the NBA Finals twice-in 2020 and in 2023-but could not bring home the championship in either trip. Now, with Butler at age 35 and heading toward the final season of his contract (he has a player option for $52 million next year), and with the Heat looking like a team destined for another .500-ish finish, it could well be time to move on.
Complicating matters is the notion that Butler would like a contract extension, preferably a max deal. Miami does not want to give him that, and really does not want to give him any deal at all beyond 2025.
Nor does anyone else, for that matter. Butler has missed 102 games since coming to Miami, more than a quarter of the total the Heat have played. Most likely, Butler will have to opt in for 2025-26 and be an unrestricted free agent in 2026.
Another complication: Any exec in the league will remind you that the Heat tend to overvalue their players, and they will push for a first-round pick and/or a young player for Butler. But that's very unlikely given where Butler is in his career.
Charania pegged three teams that would interest Butler in a trade: Dallas, Houston and Golden State. We asked a few NBA executives for their thoughts on what a trade to those places might look like, and the chances that Butler could entertain other destinations.
Jimmy Butler trade 1
Mavericks get: Jimmy Butler
Heat get: PJ Washington, Daniel Gafford, Maxi Kleber, Naji Marshall
Notes: Dallas pays Kyrie Irving $41 million, and Luka Doncic $43 million, and No. 3 on the list is Klay Thompson at$15.8 million. That makes it very difficult to match salaries in a trade with butler.
Eastern Conference executive: "This is really the only way a trade to the Mavericks works for Jimmy Butler, and this would definitely make a fun Mavs team a lot more fun, win or lose. It's a good trade from the financial side and, talent-wise, it probably works out about right. But Dallas can't afford to send four players to Miami."
Jimmy Butler trade 2
Rockets: Jimmy Butler
Heat get: Dillon Brooks, Aaron Holiday, Steven Adams, 2026 second-round pick
Notes: The Rockets have emerged from their rebuilding phase and are now ready to do some winning. They've gotten better each of the last four seasons, and finished 41-41 last year. Now, at 16-8, maybe they're ready to make a go-for-it kind of move, and getting Butler could be just that. It helps that Butler is a Houston native.
Western Conference exec: "It would be hard to make a deal work with Houston. I am sure Miami would want a (first-round) pick, but they are not getting a pick for Butler at this point. Maybe a second-rounder. The Heat would have to basically take back whatever the Rockets would be willing to give them. If you're Houston, then, yeah, you get a chance to make a win-now deal, go for it for the next two years, speed up the timeline. But they really like the young guys on that team, and putting Jimmy Butler into the middle of that might be a disaster for chemistry."
Jimmy Butler trade 3
Warriors: Jimmy Butler, Haywood Highsmith, Thomas Bryant
Heat get: Andrew Wiggins, De'Anthony Melton, Kevon Looney, Kyle Anderson, 2026 second-round pick (from Atlanta)
Notes: The Warriors' depth has been impressive, but the team is well aware that you don't win in the playoffs with depth. That's why the Warriors have been active in trade talks, hoping to get a veteran star to help Stephen Curry put a strong finish on his career.
Eastern Conference exec: "It's very difficult to make a trade like this work, financially. But this is the kind of deal Miami must say yes to if they can get it. Andrew Wiggins is 29, he'd be very good in Miami with Bam (Adebayo). For the Warriors, this is an all-in kind of thing with Butler. It might be a disaster. But if it works, it makes you a contender."
Warriors wing Andrew Wiggins Stephen Lew-Imagn Images Stephen Lew-Imagn Images
Jimmy Butler trade 4
Nets get: Jimmy Butler
Heat get: Ben Simmons, Dariq Whitehead, Cam Thomas
Notes: This might well be the most realistic deal for Butler that anyone's going to get. The Nets have always been iffy on Thomas, who's averaging 24.7 points, but packaging him with Simmons' contract would give Brooklyn the chance to capitalize on a better-than-expected start and compete for the playoffs this season. The Nets had Cooper Flagg dreams entering the year, but this team, and its coach, is too good for to land near the top of the 2025 draft. So they might as well try to win now.
Eastern Conference exec: "The Nets do not know themselves if they want to be buyers or sellers yet. But if you like this group, adding Butler is probably not a giant risk, you've only got him for a year-and-a-half, and you could possibly trade him again next year. It's a good gamble for the Nets, if Jimmy would be all-in on going there-and I am not sure you could say he would be."
Jimmy Butler trade 5
Lakers get: Jimmy Butler, Alec Burks
Heat get: LeBron James, Bronny James
Notes: Hey, why not?
Western Conference exec: "The only way to get Butler to the Lakers is to trade about half the Lakers roster, and they don't have the stomach for that. Either side. But if the Lakers really want to trade LeBron, if that is something they want to do, Miami would be one of the spots they'd have to consider. I think the Lakers would want something more than just Jimmy but it's hard to make that work."
Brett Davis-Imagn Images Brett Davis-Imagn Images
Jimmy Butler trade 6
Nuggets get: Jimmy Butler, Thomas Bryant
Heat get: Michael Porter Jr., Zeke Nnaji, Dario Saric
Notes: Denver has gotten 19.0 points and 7.1 rebounds out of Porter Jr. this year, which could well mean now is the ideal time to move him. Nikola Jokic is doing far too much work in the first two months of the year-he needs help.
Eastern Conference exec: "Denver is not out pushing for a big change or anything like that but they might be heading in that direction. They're getting this incredible season from (Jokic) and really, they're wasting it. Get Jimmy to Denver and it is one of those ‘everybody wins' kind of things. If you're Miami, you get a good player back with Porter, if you're Jimmy, you get another chance at being a contender, the Nuggets, you would hope, you get that extra jolt you have been missing. It's a great fit for everyone, I'd think."
Related: LeBron James Trades: 3 'Earthquake' Deals for the Lakers Star
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This story was originally published December 11, 2024, 10:17 AM.