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’s max contract is expected to be in the four years and in excess of $184 million, per cap experts. https://t.co/pCghWjYVJW— Shams Charania (@ShamsCharania) August 2, 2021
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.