There were reports of friction between Butler, Towns and Wiggins, but sources say that is not the main reason Butler has decided to move on. Butler was hoping for a renegotiation and extension of his contract this summer, one that would have raised his salary for 2018-19 to $30 million and added another four years and $145 million on to that. But the Timberwolves would have had to cut an enormous amount of salary to pull that off and deemed it unreasonable if they wanted to stay competitive in the near term.
With that off the table, the Wolves offered a four-year, $110 million extension, which was the highest they could go under the rules of the collective bargaining agreement. Butler could get a new five-year deal worth $188 million from the Wolves next summer, so he turned that offer down.
Darren Wolfson: #Twolves All-Star Jimmy Butler has officially turned down the Wolves' 4-year, $110M range extension offer, per owner Glen Taylor. Full interview posting soon, which includes stuff on KAT extension talks, Thibs, filling out the roster, and #LosLynx.
Nick Friedell: Thibs on where things stand between T'Wolves and Butler for potential extension: "We know how important Jimmy is to the team. But we don't talk about contract negotiations or anything like that so just get ready for the season."
Albert Nahmad: Jimmy Butler’s $20.4M cap hit for 2018-19 contains both a $1.1M signing bonus allocation and a $604K trade bonus allocation. An extension offer would start at 120% of his $18.7M base salary, and kick in for 2019-20: $22.4M, $24.2M, $26.0M, $27.8M. Total: 4 new years, $100.5M.
Marc Stein: The Timberwolves began free agency by informing star guard Jimmy Butler that they intend to offer him a maximum contract extension valued in the four-year, $110 million range as soon as he's eligible to sign the deal on July 9, league sources say
If Butler signs an extension, it likely will be next summer, when he can become a free agent and sign to stay with the Wolves for considerably more than any other team can pay him. If … “Every day we work at it,” Thibodeau said Thursday. “We know how important he is and we feel he’s one of the best players in the league. So how you manage that on a daily basis is important. I think our communication with him is important.”
Thibodeau made it clear Monday the Wolves’ culture change starts with Butler. He can sign this summer an extension to stay in Minnesota through 2023 before he can opt out of his current contract in summer 2019. “At an appropriate time, we’ll talk to him,” Thibodeau said. “What he did for our organization, we certainly know how important he is and so every day our communication with him is critical. It’s important for him to feel good about everything that we’re doing here.”
In a provision intended to help teams keep their best players, the NBA’s current labor agreement allows the Wolves this summer to negotiate a contract extension with Butler before he can opt out of his contract and become a free agent in summer 2019.
“Jimmy brings a personality and a skill set that is different from some of our other players,” Taylor said. “At least at this point, they don’t have the experience that he has. We found that very helpful to our team this year. He’s a very important part of our future. I’m not sure what they’re thinking and our thinking is. That’s something that will develop as we get into the summer and start talking to Jimmy and his agent.”
April 18, 2021 | 8:41 pm EDT Update
April 18, 2021 | 8:02 pm EDT Update
Duane Rankin: Monty Williams said they haven’t talked about resting guys as of yet. Talked about Chris Paul is someone you think about when talking about resting guys, but said the 35-year old (16-year NBA veteran) doesn’t want to miss games. Williams said Phoenix is relatively young. #Suns