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Pat Riley guaranteed Jimmy Butler he would do everything in his power to help the aging superstar win a championship. And, before the Miami Heat president opened up his checkbook in free agency, Riley made Butler an offer he couldn’t refuse.
Butler will ink a four-year contract extension with the Heat worth approximately $181.6 million. The deal will keep the five-time All-Star in South Beach through the 2015-26 season when he turns 36 years old. Miami hasn’t announced the move, but it is expected to be finalized when the new league year opens on Aug. 6 (via Shams Charania). Butler might never play in another jersey.
“He’s a competitor, he works hard, he’s in great shape,” Riley said of Butler in 2019, via Essentially Sports. “I think he loves it here [in Miami]. I think you can form a real bond sometimes with body language, with silence, with nods from my seat to the court without having to have long conversations with these guys, so I love Jimmy Butler.”
Jimmy Butler just agreed to a massive extension with the Miami Heat, per @ShamsCharania
2022-23 | $40.5M | 33 years old
2023-24 | $43.8M | 34 years old
2024-25 | $47.0M | 35 years old
2025-26 | $50.3M | 36 years old
In addition to the extension, Butler gets a new teammate to help on his quest for a title. The Heat executed a sign-and-trade for Kyle Lowry (via Yahoo! Sports) in a move that has been rumored to be on the horizon for at least four months.
Lowry gets a three-year deal worth $90 million. Goran Dragic will head to Toronto as part of the sign-and-trade. Miami also inked young sharpshooter Duncan Robinson to a five-year offer sheet at $90 million. Yes, Riley has gone all-in as previously promised.
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Heat Interested in DeMar DeRozan: Report
Long-time NBA reporter Marc Stein dropped a juicy nugget on the Heat pursuing DeMar DeRozan, Lowry’s former teammate on the Toronto Raptors. The 6-foot-6 scorer could start at shooting guard or come off the bench as a stretch forward, much like Jae Crowder did during the 2020 championship run. He averaged 21.6 points per game last season for the San Antonio Spurs.
Windhorst mentions that this better offer could be Chicago’s Lauri Markkanen.
The Heat would need to work out another sign-and-trade to acquire DeRozan and, per ESPN’s Brian Windhorst, there is already a better offer on the table. Miami’s original offer of Andre Iguodala wasn’t good enough. Remember, DeRozan is a four-time All-Star and the ninth overall pick from the 2009 draft. Tyler Herro remains untouchable.
Moe Harkless Signs $9 Million Deal in Sacramento
Meanwhile, Moe Harkless has signed a two-year deal with the Sacramento Kings worth $9 million (via ESPN’s Adrian Wojnarowski). Miami sent Harkless and Chris Silva to Sacramento at the trade deadline in exchange for Nemanja Bjelica. The 28-year-old forward played in only 11 games for the Heat.
Another former Heat player, Kelly Olynyk, will get a fresh start after inking a three-year, $37 million contract with the Detroit Pistons. Olynyk went to the Houston Rockets at the trade deadline in the failed test run for Victor Oladipo. He spent four seasons in South Beach and averaged 10.0 points in 265 games.
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Jimmy Butler Set to Sign Ridiculous New Contract: Report