Miami Heat forward Jimmy Butler has helped carry the team on playoff runs nearly every year since he landed with the franchise. Now, amid the team’s efforts to build a better team around him, Butler is reportedly looking to take advantage of rising NBA salaries.
While the 33-year-old is already one of the highest-paid players in basketball, the next wave of contract extensions is changing the landscape. Soon, the best players in the NBA will be making at least $55 million per season. Based on his performance in the last four seasons, Butler believes he deserves to be one of the next NBA players to sign a historic contract extension.
As Miami awaits for more clarity from the Portland Trail Blazers on trade talks for Damian Lillard, the Heat’s biggest star reportedly has his eyes on a new contract.
- Jimmy Butler contract: $45.183 million salary (2023-’24), $48.798 million salary (2024-’25), $52.413 million player option for 2025-’26 season
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According to Ira Winderman of the South Florida Sun Sentinel, Butler will be seeking a contract extension that surpasses the five-year, $304 million extension Jaylen Brown signed with the Boston Celtics this summer.
Miami doesn’t necessarily have to rush into contract negotiations with Butler. The six-time All-Star selection is under contract through the 2024-’25 season and free agency wouldn’t even be an option until July 2025.
- Jimmy Butler stats (2022-’23): 22.9 PPG, 5.9 RPG, 5.3 APG, 1.8 SPG, 53.9% FG, .277 WS/48
However, there’s likely another factor in play for Miami. If the Heat extend Butler and acquire Lillard, it would put two players on their roster making more than $110 million combined for the 2025-’26 and 2026-’27 seasons. Furthermore, Butler and Lillard would both be playing into their late-30s on two of the largest contracts in NBA history.
While it’s a massive financial cost for the organization, it would likely be viewed as the cost of doing business to compete for a championship. While Miami has reached the NBA Finals in two of its past four seasons, its last championship happened with LeBron James in 2013.
Ultimately, Pat Riley and Co. will likely determine that mortgaging the future to compete for championships for the next three years is worth it. While it will cost the Heat significantly long-term, the price will be worth it if Miami has another championship parade.