This has been speculation about this for weeks, but things went quiet after the deadline, and now appear to be getting serious again.
Bucks and Raymond Brothers, agent for Caron Butler, in discussions to buy out Butler's contract.— Gery Woelfel (@GeryWoelfel) February 25, 2014
Butler seems like a logical fit for the Heat, as he would provide them veteran depth on the wing and would cost them no more than the minimum. He also has a history with the Heat, as they drafted him 10th overall in 2002 and he played his first two years in the league there. Butler is averaging 11 points per game this season, to go along with 4.6 rebounds a night. Perhaps more importantly, he's shooting 36% from deep this season after shooting 39% last season.
HOWEVER, the Heat just used their one open roster spot to give DeAndre Liggins a 10 day contract, so here are the two ways that Butler could potentially end up in Miami:
1) Butler waits for Liggins' contract to run out, and signs with the Heat at the end of the 10 days.
2) The Heat waive Toney Douglas and use that new roster spot to sign Butler. This option seems unlikely, as Douglas would still count against the cap, and they would then be adding Butler's salary in addition to paying the remainder of Douglas'. While it isn't a great deal of money, keep in mind that it would put the Heat further in to the tax, which is where their real concern is.
Butler and Milwaukee must agree to a buyout by the March 1st deadline in order for Butler to be eligible for Miami's playoff roster. If, for some reason, these talks fall through between now and then, Butler will remain a Buck.