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Report: Jimmy Butler expected to agree to max extension with Heat

Miami will keep the All-Star guard around for four years once his contract expires after this upcoming season.

Jimmy Butler of the Miami Heat drives to the basket during the first half against the Milwaukee Bucks in Game Four of the Eastern Conference first-round playoff series at American Airlines Arena on May 29, 2021 in Miami, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.(Photo by Eric Espada/Getty Images

The Miami Heat are expected to sign SG Jimmy Butler to a four-year contract extension this offseason, per Shams Charania of The Athletic. The contract could be in the neighborhood of $184 million, per cap experts.

Butler has a player option for 2022-23 after the final year of his current deal expires after the 2021-22 season. This new extension will eat up the player option and then three years after that. Butler will make around $36 million next season.

The Heat are coming off a disappointing season after reaching the NBA Finals in the bubble during the 2020 NBA playoffs. Miami got in as the 6-seed in the East but were swept out by the eventual champion Milwaukee Bucks in the first round.

Injuries piled up for the Heat, but chemistry seemed to be an issue and Tyler Herro regressed a lot from his rookie season. Kendrick Nunn and Duncan Robinson are restricted free agents, though both should be retained. Kyle Lowry is being added on a sign-and-trade with the Toronto Raptors. So Lowry will join Butler and Bam Adebayo to create some semblance of a Big 3 in Miami.