A 4-Team Trade to Convince Pat Riley to Trade Jimmy Butler
Will the Miami Heat trade Jimmy Butler?
At face value, Heat president Pat Riley shot it down on Monday when talking with local reporters:
But what team executive will say "Yes" to that question? Riley may not intend to trade Butler, but he could be convinced as the offseason evolves.
Butler will be eligible for an extension this July that would take him through the 2026-27 season (limited by the Over-38 Rule)—and the Heat may not want to pay the ballpark of $55 million a season for a player starting show signs of age (35 before next season).
Tyler Herro and Butler haven't been healthy together the last two postseasons, and Miami may have peaked as is. New collective bargaining rules punish high-cost rosters, and the Heat may be ready for a semi-reset.
Adding All-Star Donovan Mitchell alongside Butler may appeal, but that would only commit further to the financial hell of first and second aprons. Perhaps Mitchell, with another talented forward in Kyle Kuzma (while cashing out Butler and Herro), is the answer.
The Cavaliers are still competing, but many in NBA circles believe that, barring a title, Mitchell will force his way out of Cleveland this offseason (recently explored at B/R).
Cleveland gave up a mint (to the Utah Jazz) to get Mitchell but may find the return less than desired. Stars often dictate where they play, especially near the end of their contracts. In return for Mitchell, Herro may be the best player available to the Cavaliers.
Meanwhile, the Philadelphia 76ers may strike out on free agents with their massive haul of cap space. A win-now trade for Butler may be the answer.
Finally, the rebuilding Washington Wizards didn't like the offers for Kuzma at the deadline. Do they gamble on a better return next February or take a reasonable bird-in-the-hand offer with young players and picks?
Here's a theoretical convincing Riley to trade Butler and Herro in a four-team blockbuster with the Cavaliers, 76ers and Wizards.
Full Trade Scenario
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Heat get:
- Donovan Mitchell (via Cavaliers)
- Kyle Kuzma (via Wizards)
- $13.4 million trade exception (Jimmy Butler)
- $2.5 million trade exception (Nikola Jović)
- $2.3 million trade exception (Tyler Herro)
Cavaliers get:
- Tyler Herro (via Heat)
- No. 15 pick (via Heat)
- 2026 Phoenix Suns second-round pick (via Wizards)
- 2028 LA Clippers first-round pick (via 76ers)
- 2030 first-round pick (via Heat)
- $6.4 million trade exception (Mitchell)
- $2.6 million trade exception (Ty Jerome)
Sixers get:
- Jimmy Butler (via Heat)
Wizards get:
- Paul Reed Jr. (via 76ers)
- Nikola Jović (via Heat)
- Ty Jerome (via Cavaliers)
- No. 16 pick (via 76ers)
- 2026 (TBD) first-round pick (via 76ers)
- $23.5 million trade exception (Kuzma)
Note: The deal would be agreed to before the draft but executed on July 6, after the 2024-25 moratorium. None of the four teams trigger a first- or second-apron hard cap in the deal.
The Heat's 2030 pick would have top-10 protection; otherwise conveyed in 2031.
The 2026 first-rounder going from Philadelphia to Washington will be the lowest of the Oklahoma City Thunder, Houston Rockets (provided it's not a top-four pick) and Clippers.
Kuzma has a 15 percent trade bonus worth $9.7 million (paid by the Wizards) split over three years, raising his cap figure for 2024-25 to $26.7 million.
Butler has a similar kicker, limited to next year's maximum (projected at $49.4 million). His bonus would be $1.1 million (paid by the Heat), raising his cap figure to the max.
The Wizards would use the Monte Morris, Mike Muscala and Daniel Gafford trade exceptions to take in Reed, Jerome and Jović, respectfully.
Why the Miami Heat Do It
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The Heat have muscled their way to two NBA Finals (2020 and 2023), but that may be as far as this version of the franchise gets.
Of all the NBA guards, Mitchell may be the closest to Heat legend and Hall-of-Famer Dwyane Wade. He will be 28 before next season (seven years younger than Butler). He has a strong relationship with Bam Adebayo and is said (by multiple NBA insiders) to have Miami high on his list of destinations.
Mitchell is expected to decline his $37.1 million player option for 2025-26 to explore free agency. As part of a trade, the Heat and the player would come to terms on his next contract—which isn't technically legal, but it's common practice behind the scenes.
The likely path would be a six-month wait for the extend-and-trade restriction to lift so Mitchell can opt out and extend for four additional seasons, starting at a max of about $44.4 million (higher if a new broadcast deal pushes the salary cap up).
Kuzma is a talented scorer who has shown he can play championship basketball with the Los Angeles Lakers (beating Miami in 2020). If lack of discipline (on offense and defense) was an issue in Washington, it wouldn't be with the stricter Heat culture.
Financially, Mitchell's salary is less than Butler's, and Kuzma's is less than Herro's. Assuming Caleb Martin opts out to leave in free agency, Miami can field a starting lineup with Terry Rozier, Jaime Jaquez Jr., Adebayo, Mitchell and Kuzma. The team would presumably re-sign Haywood Highsmith and Delon Wright, rounding out the bench with players such as Duncan Robinson, Kevin Love and Josh Richardson.
Miami might even have some of its mid-level exception to spend on a free agent (perhaps $5 million or more), all while staying under the NBA's projected luxury-tax threshold of $171.3 million.
Jović is included to even out the value across the trade, but the Heat can certainly do their best to negotiate him out of the deal. The first-round picks (No. 15 and the lightly-protected 2030) are the cost of getting a younger All-Star guard in Mitchell.
Why the Cleveland Cavaliers Do It
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It's just a hunch, but Cavaliers fans aren't thrilled with the entire scenario. The franchise gave up three future firsts, two swaps and a recently drafted player (Ochai Agbaji), plus a future All-Star in Lauri Markkanen and a solid player in Collin Sexton. That's a sunken cost that shouldn't dictate future decisions.
Perhaps the 48-win Cavs upset the 64-win Boston Celtics over the next two weeks. But assuming that doesn't come to pass, and Mitchell does push his way out with a short list of teams he's willing to negotiate a new deal with, Cleveland won't have a luxurious list of choices.
In a similar situation, the Toronto Raptors were willing to trade for Kawhi Leonard, heading into the last year of his deal, but after winning a title, he left for the Clippers in free agency. Few NBA franchises will give up true value for a short-term star without a long-term commitment.
Unfortunately for Cleveland, leverage is not on the team's side. The choice may be helping LeBron James win a title with the Lakers (for players like D'Angelo Russell and Rui Hachimura), Julius Randle and Bojan Bogdanović from the New York Knicks, or Cam Thomas and Cam Johnson from the Brooklyn Nets.
Randle is coming off a shoulder injury and plays the same position as Evan Mobley. Randle recently rejoined CAA Sports, an agency with strong ties to New York, and he may not be available this summer (New York may not chase Mitchell at all, given the team's current playoff run).
After polling several NBA scouts, all prefer Herro to Thomas. None were incredibly high on Johnson, based on age (28) and injury history—averaging roughly 47 games a season.
Herro would slot into Mitchell's position on the Cavaliers' rotation on a cost-controlled contract. He's not cheap, but Cleveland can field a competitive roster without entering the luxury tax. That includes keeping restricted free agent Isaac Okoro if both sides can agree to terms at a salary starting near $10-13 million.
Is Herro as good as Mitchell? No, but he's better than letting Mitchell walk after a year with nothing in return. And the Cavaliers add the No. 15 pick in June, along with compensation to make up for some of what was sent to Utah (two additional firsts and a second).
Why the Philadelphia 76ers Do It
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The Sixers can whittle their roster down to Joel Embiid and the rights to Tyrese Maxey, spend some $65 million on free agents, and then bring Maxey back on a maximum deal. The challenge may be finding that third star.
The Clippers haven't come to terms with Paul George on an extension and may not, which would open the door to Philadelphia giving the 34-year-old up to a four-year contract maxing out at $212 million.
However, George may not be available, and Butler has the better track record in terms of playoff production. Additionally, Embiid has expressed remorse that Butler didn't stick with the team after the 2018-19 season.
Hall of Fame writer David Aldridge of The Athletic recently linked Butler as "the alpha the 76es need to pair with [Embiid]."
This concept has picked up steam in NBA circles over the last month, with the Heat forward possibly becoming more than just a backup plan but a goal.
Regarding the cost, Reed and the No. 16 pick are likely casualties in whatever direction the team takes to free up cap space for a third star. The 2026 first is the lowest from three teams (Thunder, Rockets and Clippers), and the 2028 belongs to the Clippers (both from the James Harden trade).
It's a lot in name (three firsts), but none are crucial to Philadelphia's future, with the team aspiring to win now with Embiid.
And the Sixers would still have about $16.8 million in spending power post-trade, along with the $8 million room mid-level exception. The rest of the roster would be filled out by minimum players, which might be enough to bring back names such as Kyle Lowry, Nicolas Batum and Cam Payne.
Why the Washington Wizards Do It
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Will the Kuzma market appreciate with patience, or could an injury or down season tank his value further? The Wizards will know what offers look like for the 28-year-old around the draft.
Does a team offer more than what Washington can get in this deal? Does keeping him make much sense as the Wizards continue to rebuild?
The return includes two young forwards, Jović and Reed, who have playoff experience and plenty of room to grow with a more significant opportunity to play. The team can consider Jerome a cheap backup point guard, include him in an additional trade or cut him loose despite his guaranteed salary.
The bigger-picture goal is draft compensation, including No. 16 from Philadelphia and a future first in 2026. Two firsts and 2-3 prospects may be the best offer for this summer.
Additionally, the Wizards would get a trade exception for Kuzma's entire salary, which could help add talent or take on other teams' unwanted players for more draft considerations.
Kuzma is essential to the puzzle, as Miami wants to stay highly competitive if it moves forward without Butler and Herro. The Cavaliers have much to figure out this summer with Mitchell's potentially looming trade request. The Sixers need a high-level, attainable target for their cap space.
It may all hinge on the Wizards and what they're willing to take back for Kuzma.
Email Eric Pincus at eric.pincus@gmail.com and follow him on X/Twitter @EricPincus.
