"He's going to have the ability to opt and we're going to have the ability to extend," Heat president Pat Riley said last week to a small group of reporters when asked about Butler's contract status. "So I'm trying to get all that thinking out of our heads because it's living in the present moment and playing basketball. So if there's something that's going to change, it will change when it changes." This emphasizes the uncertainty surrounding Butler's future and the importance of focusing on the current season.
Butler, who turned 35 in September, has already helped lead the Heat to three Eastern Conference finals appearances and two NBA Finals appearances since joining the team during the 2019 offseason. His contributions have solidified his legacy as one of the greatest players in franchise history.
If Butler opts out and becomes a free agent next offseason, he will be eligible to sign a four-year max contract projected to be worth about $243 million with the Heat or a max three-year contract worth $171 million elsewhere. This highlights the significant potential financial implications of his upcoming decisions.
This two-year max extension would include salaries of $54.3 million for the 2025-26 season (nearly a $2 million increase from the player option in Butler's current contract for that season) and $58.6 million for the 2026-2027 season when Butler will be 37 years old. Those numbers could fluctuate based on where the NBA's salary cap is set for those seasons.
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