Jimmy Butler still signed a lucrative extension with the Heat. He’ll still be under contract through age 36 in 2026. But it’s a three-year extension, not the four-year extension initially reported, according to Bobby Marks of ESPN.
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Instead of replacing his $37,653,300 player option for 2022-23 with a higher max salary (projected to be $42 million) in the extension, Butler exercised his player option in conjunction with the new deal. The extension will begin in 2023. The extension will be worth between $135,240,854 and $146,396,030.
Your Miami HEAT announced today that they have re-signed forward Jimmy Butler to a contract extension. Per club policy, terms of the deal were not disclosed.
“Jimmy is the anchor and face of our franchise along with Bam and Kyle,” said HEAT President Pat Riley. “With Jimmy, we get an All-NBA player, an All-NBA Defensive player, tough as nails and a complete player across the board. He’s very deserving of this contract as he continually puts himself at the top of the league at his position. Having him in the HEAT organization has been a great, great coup for us.”
NBA Central: Jimmy Butler just agreed to a massive extension with the Miami Heat, per @Shams Charania 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 pic.twitter.com/6Oq756BRVb
All eyes remain trained on Kyle Lowry’s future as the NBA’s free-agency period readies to open at 6 p.m. ET on Monday. Word around the league, at this juncture, is clearly pointing toward the All-Star guard joining Jimmy Butler and the Miami Heat via a sign-and-trade with Toronto. The Heat are also expected to sign Butler to a lucrative contract extension, sources told B/R.
Miami has Butler locked in for next season before he has a $37,653,300 player option for 2022-23. This offseason, he will become eligible for a max contract extension projected to be worth about $182 million over four years (including replacing his player-option year with an approximately $41 million salary). That’d be a lot to pay Butler – who has heavy mileage – for his age-33-36 seasons. But Butler is also darned good and has quickly become nearly essential to the Heat.
Does Butler expect Miami to offer that max extension? “I think me and the Heat have an understanding,” Butler said. “I think we have a mutual respect for what each one of us can do for each other. But we’ll see whenever that time gets here. I know I have a job to do, and that’s to win us a championship along with my teammates. So, when the time comes, you’ll know. “I don’t do anything for money. I don’t. It’s all about how somebody values you.”
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.”
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September 28, 2021 | 5:08 am EDT Update
Though roughly 90% of NBA players are vaccinated as training camp approaches Tuesday, tension exists between those around the league mandated to be vaccinated and the nearly 40 unvaccinated players, league sources told ESPN.
One general manager told ESPN that the issue of tension between those who are mandated to be vaccinated and those who aren’t “‘just speaks to selfishness run amok. But the NBA is comprised of human beings and we are seeing the same thing in the public at large.”
In some instances, vaccinated staffers say they’re concerned about the health risks of being exposed to unvaccinated players. In others, staffers say they’re upset that players aren’t facing the same vaccine requirements as most team staff and referees. In still others, there’s animosity toward the league itself for not imposing such a mandate.
One vaccinated Western Conference strength and conditioning coach said they’re concerned about a potential breakthrough case that could affect family members. “For me, it’s a problem because my parents are very sick, and I’m in close contact with these guys and I would hate to bring this home and my parents pass away from it,” the coach told ESPN.
Health and safety protocols for vaccinated and unvaccinated players have not yet been finalized, league sources said. But it’s expected, as ESPN previously reported, that unvaccinated players will face more testing and be asked to sit in separate areas of team meetings, team meals, locker rooms, on the team plane and bus.
But a second league source also tied to training staffs noted that many peers “believe the league is prioritizing the athletes’ lives over their own. On the opposite side, some members don’t want to force anyone to vaccinate if they feel uncomfortable with it, but it should be a standard set across the board instead of the league one way and the players the other.”
NBA insiders say they’re not aware of any games being missed because of a reaction to the vaccine. Beal, though, did miss time. His case of COVID cost him a spot in the Olympics and the chance to compete for a gold medal.