Jimmy Butler extension: Heat star could secure $113M deal / News - Basketnews.com

Jimmy Butler is expected to seek a two-year, $113 million contract extension in the offseason.

Credit: Winslow Townson-USA TODAY Sports - Scanpix Credit Winslow Townson-USA TODAY Sports - Scanpix

Miami Heat star Jimmy Butler, who will turn 35 on September 14, is eyeing a lucrative contract extension worth about $113 million from the team this offseason, as reported by Anthony Chiang of The Miami Herald.

Jimmy Butler

MIN:34.13PTS:20.74 (62.75%)REB:5.28As:4.97ST:1.36BL:0.28TO:1.69GM:61ProfileNBA2023/2024

Butler's current deal -- a three-year, $146.4 million agreement -- inked in the 2021 offseason, includes a guaranteed salary of $48.8 million for the upcoming season, with a player option of $52.4 million for the 2025-26 season.

In seeking an extension, Butler aims to replace the 2025-26 option and begin the 2026-27 season.

The two-year max extension would see him earn $54.3 million in 2025-26 (a nearly $2 million increase from his current option) and $58.6 million for the 2026-27 season, when he would be 37 years old. These figures may vary depending on the NBA's salary cap.

However, due to the over-38 rule, Butler is restricted to a maximum two-year extension, preventing him from signing a contract that extends beyond the next three years, including the one season of guaranteed money left on his current deal.

The decision on whether the Heat will offer Butler this extension will be made in the upcoming months, with the window to sign him opening on July 7.

During his tenure with the Heat, Butler has been selected for the NBA All-Star team twice (2019-20 and 2021-22).

In the recently concluded regular season, Butler maintained averages of 20.8 points, 5.3 rebounds, and 5.0 assists over 60 games.

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