With Miami Heat president Pat Riley non-committal on a Jimmy Butler extension, rumors have started to leak out about a potential exodus of their franchise star.
Butler holds a $52.4 million player option for the 2025-26 season and can opt out to test free agency as one of the headliners next summer.
“The six-time All-Star is the most accomplished standout on that list not named James, and he likes Brooklyn, according to sources close to the player,” New York Post’s Brian Lewis wrote on August 31.
Butler is owed $48.8 million next season. He is extension-eligible this offseason and can sign a one-year, $58.6 million extension tucked into the final year of his current deal or a two-year, $112.9 million extension (voiding the player option), according to ESPN’s front office insider Bobby Marks.
But nearly a month since he was eligible to sign an extension on July 7, no agreement has been reached.
Jimmy Butler’s Uncertain Future in Miami
Riley’s statement in May regarding Butler’s extension put a cloud of uncertainty in the star forward’s future in Miami.
“We don’t have to do that for a year,” Riley told reporters about Butler’s extension while speaking to reporters during his exit interview on May 6. “And so, we have not discussed that internally right now, but we have to look at that, making that kind of commitment.”
After averaging 22.9 points, 5.9 rebounds and 5.3 assists to lead the Heat to the NBA Finals in the 2023-24 season, Butler’s dropped to 20.8 points, 5.3 rebounds and 5.0 assists last season as he was only limited to 60 games due to injuries and personal absence as he mourned the death of a family member. His season ended in their play-in tournament loss to his former team Philadelphia 76ers with a knee injury.
“We haven’t made a decision on it,” Riley added. “And we really haven’t really in earnest, discussed it. So we’ll just see what happens.”
Pat Riley Put Jimmy Butler on Notice
Riley wants Butler to change his approach to the regular season.
The Heat president repeatedly talked about players’ availability during his 43-minute presser, including blasting the NBA’s 65-game eligibility rule, which he believes sent the players and their agents a message that “it’s okay to miss 17 games” in the regular season.
Butler is notorious for laying low during the regular season and then switched to “Playoff Jimmy” mode in the postseason. He has never played more than 64 games since he moved to Miami in 2019.
While Riley said that topic had been discussed with Butler’s agent last year, he wanted Butler to shape up. While Butler is turning 35 on September 14, Riley still believes Butler has that 1A ability to lead the Heat to a championship.
Butler is represented by Bernie Lee, who also handles Nets star Ben Simmons‘ career. Butler and Simmons played together in Philadelphia for one season in 2018-19 following his dramatic exit from Minnesota.
The Nets will be a major player in the next free agency as the only NBA team projected to have more than $30 million in cap room.
Marks projects the Nets to have $70 million in cap room after they traded away franchise star Mikal Bridges to their intra-city rival New York Knicks for five first-round picks to go into full-scale rebuild.
It will become a quick rebuild if the Nets win the Cooper Flagg sweepstakes, and pry Butler out of Miami.
