Miami Heat forward Jimmy Butler is reportedly turning down a contract extension with the franchise. Per Miami Herald, Anthony Chiang, the six-time NBA All-Star plans to opt out of his current contract and become a free agent in the summer of next year.
Chiang reported back in May that Butler would be seeking the $113 million max extension. The star forward is in the second year of his three-year, $146.3 million contract with the Heat, and will earn $48.7 million this season. Then he has a player option for next season worth $52.4 million.
Butler is eligible for a two-year, $113 million contract extension, and should Miami offer him the deal, he will have until June 30 next year to sign it. And if he re-signs with the franchise, he then would be eligible to sign a four-year max contract projected to be around $243 million. But if he decides not to re-sign and look for another team to join instead, he would also be able to negotiate a maximum three-year, $171 million contract.
Last week, Heat president Pat Riley shared his thoughts on Jimmy Butler’s future as well as the future of the team.
“He’s going to have the ability to opt and we’re going to have the ability to extend,” Riley said. “So I’m trying to get all that thinking out of our heads because it’s living in the present moment and playing basketball. So if there’s something that’s going to drag me down or him down because of that, then we’re not going to perform at a certain level. But I think he’s embraced exactly where he’s at, I think he understands where we’re at.”
Jimmy Butler’s agent blasts ‘disrespectful’ offseason rumors
During the offseason, Miami Heat president Pat Riley made a comment saying that Jimmy Butler’s contract extension would depend on his availability. His comment sparked rumors about the forward’s future with the franchise.
Butler’s agent Bernie Lee then addressed the rumors regarding him, Riley, and the Heat organization as a whole.
“The gift about sports is, to a large extent, things are absolute and there is no need to live in hypotheticals,” Lee said. “Jimmy went away this summer and prepared himself for the task at hand, I think we all see that. Speculating on what’s next is irrelevant and disrespectful to the moment and this group.”
Last season, Jimmy Butler averaged 20.8 points for the Heat—his lowest scoring total since his first season with the franchise in 2019-20. Over his five years with the team, he has averaged just 58 regular season games.
