When free agency officially begins on August 6 and players can sign their contracts with teams, Miami Heat All-NBA player Jimmy Butler will be eligible for a four-year contract extension. The Heat’s window to sign Butler to an extension closes on Oct. 18 if the team adds three more seasons to his contract and closes on June 30 if the extension is for four seasons, according to Bobby Marks (via Miami Herald).
Two seasons ago, Butler signed a four-year deal with the Miami Heat. And Butler has two guaranteed years left on his deal.
— $36 million this season
— $37.7 million next season
If Butler were to agree to a max extension, that would not have any implications for the Miami Heat for the coming season. He would remain at his $36 million.
But the extension would begin in 2022-23 and replace his final season with the following...
— $40.5 million (2022-23 at age 33)
— $43.8 million (2023-24 at age 34)
— $47 million (2024-25 at age 35)
— $50.3 million (2025-26 at age 36)
The implications are as follows:
#1 — Any major signing this off-season will lock the Heat in with those core players moving forward, so it better be good enough. Hint: Kyle Lowry. A three-year and $90 million deal with Lowry would lock the Heat in multiple $30+ million players, two in their mid-thirties.
Could this extension dictate what the Heat are willing to do?
#2 — Jimmy Butler would only be moved WITH assets. That’s hard to type and sad to say, but he will age and his game doesn’t seem to be one that will age well (shooting has declined). He very well could see himself become something like Russell Westbrook, John Wall and guys like that — massive contracts that if needed to be moved, assets are attached. Not good. He may very well finish with the Miami Heat, good or bad.
Is Jimmy Butler here for good?
#3 — There’s a lot of money tied up for a long time. With the max contract for Bam Adebayo and a max extension for Jimmy Butler, there will be a lot less room to add help. Not too far down the road, the Heat will be offering the second contract to Tyler Herro if they intend to keep him. Butler’s max extension only becomes a success if Bam Adebayo and Tyler Herro make leaps in their games moving forward. Bam seems to be on that path. Now it’s also on Tyler.
Will everyone else make Butler’s contract worth it?
Let us know what you think! Should the Heat be willing to pay Jimmy in a way they wouldn’t pay Dwyane Wade? Did Pat learn his lesson? Or should the Heat be more frugal with their long-term flexibility?
Give us your thoughts!