Jimmy Butler Trade Rumors: Suns’ Mat Ishbia Would Give Heat Star New Contract

Just days after six-time All-Star Jimmy Butler indicated to the Miami Heat that he wants the team to trade him, Phoenix Suns majority owner Mat Ishbia reportedly informed NBA insiders that he would be willing to give Butler a new deal.

Jimmy Butler Trade Rumors: Suns Gov. Mat Ishbia Is Willing To Sign The Heat Star To A Ridiculous Contract

NBA insider Marc Stein reported Sunday that Phoenix is “widely regarded as the team most interested in trading for Butler,” and Suns governor Mat Ishbia “is believed to be as willing to sign the 35-year-old to a lucrative new contract as anyone you’ll find.”

Since Butler has a $52.4 million player option for the 2025-26 season, potential trade suitors are wondering what the 14-year veteran plans to do. Multiple sources reported in December that Butler intends to decline his option.

If he opts out of that deal, he would only be a short-term rental for his new team. If he opts into it, he will be an expensive asset for a 2025-26 Suns roster with Kevin Durant ($54.7 million) and Devin Booker ($53.14 million).

The Suns are the most aggressive team in trade talks to acquire Jimmy Butler, per @WindhorstESPN:

– The Heat don’t appear to have any interest in Bradley Beal.

– Butler landing in Phoenix will require Beal waiving his no-trade clause elsewhere in a complicated multi-team deal. pic.twitter.com/8YKZV7GCD0

— Evan Sidery (@esidery) January 5, 2025

The Bradley Beal ($53.66 million) experiment failed, so that’s why the three-time All-Star is getting shopped. Note that Phoenix would pretty much be swapping one high-priced player for another.

However, Butler’s salary doesn’t appear to be a problem for Ishbia. But even then, Stein also explained that the Suns are “well aware” the Heat are not interested in taking on Beal and a 2031 first-round pick for Butler.

This means a trade might not ever happen unless Phoenix finds “a third team willing to take on Beal’s contract (which owes him $110 million over the next two seasons) to have any shot at actually trading for Butler … in addition to Beal’s willingness to waive his no-trade clause.”

Heat Suspended Butler For Seven Games

Sources informed Stein of the Jimmy Butler news pertaining to Ishbia shortly after the Heat issued Butler a seven-game suspension for “multiple instances of conduct detrimental to the team.”

Miami’s next road games include matchups with the Sacramento Kings (Jan. 6), Golden State Warriors (Jan. 7), Utah Jazz (Jan. 9), Portland Trail Blazers (Jan. 11), Los Angeles Clippers (Jan. 13), and Los Angeles Lakers (Jan. 15).

Butler has been frustrated with the Heat primarily because Miami declined to give him a two-year, $113 million contract extension this past summer. That deal would have run through the 2026-27 season.

Following Miami’s 128-115 loss to the Indiana Pacers on Thursday, Butler told reporters he likely won’t get his “joy” back playing for the Heat and wants to “be back to somewhat dominant.”

Although Stein’s report might be accurate, NBA betting sites are not counting on the Suns trading for Butler. At the moment, sportsbooks show the Warriors (-200) as the betting favorite to land the Marquette product.

The Suns currently rank 15-18 in the Western Conference standings and 1.5 games out of the final spot in the play-in tournament. Phoenix is just 1-7 in its last eight games, and the team has lost four straight.