The 5-Team NBA Trade to Finally Solve Miami Heat's Jimmy Butler Problem

The Phoenix Suns swung a trade with the Utah Jazz on Tuesday in what many in NBA circles believe is a precursor for a full-scale run at a Jimmy Butler trade with the Miami Heat.

Butler and the Heat are heading for a divorce, but moving a $48.8 million player is not easy, especially when multiple sources say he wants to go to the Suns and only the Suns.

The following is a complex, five-team blockbuster that solves everyone's problems but relies specifically on Bradley Beal's no-trade clause.

Bradley, addressing you directly: The Milwaukee Bucks will value you in ways the Suns clearly do not. You get the chance to play with Giannis Antetokounmpo and Damian Lillard. Give this one a thumbs up!

Full Trade Details

Issac Baldizon/NBAE via Getty Images

MIAMI, FL - DECEMBER 7: Bradley Beal #3 of the Phoenix Suns and Jimmy Butler #22 of the Miami Heat look on during the game between the against the Phoenix Suns against the Miami Heat on December 7, 2024 at Kaseya Center in Miami, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2024 NBAE (Photo by Issac Baldizon/NBAE via Getty Images)

Heat get:

• Khris Middleton (from Bucks)
• Bobby Portis (from Bucks)
• 2025 first-rounder (from Oklahoma City Thunder)
• $4 million trade exception (Jimmy Butler)

Suns get:

• Jimmy Butler (from Heat)

Bucks get:

• Bradley Beal (from Suns)
• $2.7 million trade exception (MarJon Beauchamp)

Washington Wizards get:

• Pat Connaughton (from Bucks)
• MarJon Beauchamp (from Bucks)
• 2026 first-rounder (from Suns)
• $5.3 million trade exception (Johnny Davis)

Thunder get:

• Johnny Davis (from Wizards)
• 2028 first-rounder (from Suns)

Notes: The Heat get the second-highest (most favorable) 2025 first-rounder from the Thunder from one of the Houston Rockets, Los Angeles Clippers, Suns or Miami's own (initially sent to the Clippers in the 2019 multi-team trade that brought Butler to the Heat).

Due to Portis' 15 percent trade bonus, the value of Miami's trade exception would depend on the exact day of the transaction. The Suns also get a small trade exception ($1-1.4 million) for Beal, depending on Butler's trade bonus.

The Wizards previously had a first-round swap with the Phoenix Suns in 2026 from the initial 2023 Beal trade. This trade essentially extinguishes the swap and gives Washington the lowest (least favorable) first of the Orlando Magic, Memphis Grizzlies and Suns in 2026.

Washington would waive Patrick Baldwin Jr. before the trade. It would use the Daniel Gafford trade exception to take on Connaughton and Beauchamp. Oklahoma City would use the room mid-level exception to absorb Davis' salary.

The Thunder (via Phoenix) get the lower 2028 first-rounder from the Wizards and whichever is lowest of the Brooklyn Nets, Philadelphia 76ers (with multiple protections) and Suns.

Why the Miami Heat Do It

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MILWAUKEE, WI - DECEMBER 5: Bobby Portis #9 and Khris Middleton #22 of the Milwaukee Bucks high five during the game against the New York Knicks during the In-Season Tournament Quarterfinals on December 5, 2023 at Fiserv Forum in Milwaukee, Wisconsin. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2023 NBAE (Photo by Jeff Haynes/NBAE via Getty Images)

In: Khris Middleton, Bobby Portis, 2025 first-rounder (from OKC Thunder), $4 million trade exception (Jimmy Butler)

Out: Jimmy Butler

The greatest threat to Miami is Butler picking up his $52.4 million player option for next season. The Heat are not a fan of disruption, and getting Butler off their books is vital. Here, they'd get two championship veterans in Middleton and Portis.

The 33-year-old Middleton is injury-prone, but he figures to be cheaper than Butler next season. He has a $34.0 million player option, but he could instead opt out to re-sign on a multi-year deal at a lower annual price.

Portis, who also has a player option ($13.4 million), will probably opt out to seek more money. But with so few teams expected to have cap room this offseason, he might not get much more elsewhere.

The Heat would also get a 2025 first-round pick back in this deal and save about $8.8 million in luxury taxes. Most importantly, they'd get closure on the Butler era, which was largely successful (including two NBA Finals appearances) before falling off the rails this season.

Why the Phoenix Suns Do It

Megan Briggs/Getty Images

MIAMI, FLORIDA - JANUARY 19: Jimmy Butler #22 of the Miami Heat walks off the court after defeating the San Antonio Spurs at Kaseya Center on January 19, 2025 in Miami, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Megan Briggs/Getty Images)

In: Jimmy Butler

Out: Bradley Beal, 2026 first-round pick (worst of PHX, WAS, ORL and MEM), 2028 first-round pick (worst of BKN, NYK, WAS and PHX)

The Suns have taken a rebellious approach to the NBA's restrictive new rules for high spenders. The Beal trade hasn't panned out as hoped, so Phoenix has now shifted to pursuing Butler, according to multiple NBA sources.

If that's the goal, the question shifts from "why" to "how."

Butler's motivation to get to Phoenix is clear if the Suns are willing to give him the extension he desires, and the intel suggests they are. The veteran has a 15 percent trade bonus but cannot earn more than the league max of $49.2 million. If it's not removed in the trade as a courtesy to the Heat for sending him to his desired destination, Miami must pay Butler just over $407,000.

Because of his age (35), Butler can wait until the offseason to decline his $52.4 million player option and re-sign for three years and $175.4 million ($123 million in additional salary). If he chooses to extend with the team soon after the trade, the most he can add is $58.5 million (voiding his option, extending for two years and $111 million).

The caveat is that Beal can scuttle any trade, as he's one of only two NBA players with official no-trade clauses. LeBron James of the Los Angeles Lakers is the other.

Why the Milwaukee Bucks Do It

Paras Griffin/Getty Images

ATLANTA, GEORGIA - JANUARY 14: Bradley Beal #3 of the Phoenix Suns warms up before the game against the Atlanta Hawks at State Farm Arena on January 14, 2025 in Atlanta, Georgia. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Paras Griffin/Getty Images)

In: Bradley Beal

Out: Khris Middleton, Bobby Portis, Pat Connaughton, MarJon Beauchamp, $2.7 million trade exception

Milwaukee would inherit Beal's no-trade clause, but many around the league believe the Bucks are the answer to the "Who will take Beal?" question.

They won a championship in 2020-21, but they're eager to keep Giannis Antetokounmpo happy. After a terrible start to the season, Milwaukee went on to win the NBA Cup and has since climbed to fourth in the Eastern Conference.

Unfortunately, Middleton and Connaughton are not as productive as they were during that championship run. Beal may be more expensive and has one extra year on his contract (a $57.1 million player option in 2026-27), but he can take on a more reliable offensive role alongside Damian Lillard and Antetokounmpo.

Portis is the more considerable loss, but many sources expect the forward to opt out and leave Milwaukee after this season, even if it's for the non-taxpayer mid-level exception (about $14.1 million).

After the trade, Milwaukee can sign two veterans at the minimum to get back to 14 players (a 15th can be signed in March). The Bucks would get under the NBA's second apron so they could legally aggregate contracts to acquire Beal, shedding about $18.5 million in luxury-tax penalties.

Why the Washington Wizards Do It

Stacy Revere/Getty Images

MILWAUKEE, WISCONSIN - JANUARY 14: Pat Connaughton #24 of the Milwaukee Bucks reacts to an officials call during a game against the Sacramento Kings at Fiserv Forum on January 14, 2025 in Milwaukee, Wisconsin. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Stacy Revere/Getty Images)

In: Pat Connaughton, MarJon Beauchamp, 2026 first-round pick (worst of WAS, MEM, ORL or PHX)

Out: Johnny Davis

The Wizards currently aren't focused on winning. They're focused on player development and pick acquisition.

Here, they stay under the luxury tax while adding Connaughton, who's a virtual lock to pick up his $9.4 million player option for 2025-26. Washington made a similar move early last season, taking Richaun Holmes from the Sacramento Kings.

Davis was drafted by the previous regime, before Michael Winger took over as team president. He isn't part of the Wizards' future, as both he and Patrick Baldwin Jr. had their rookie-scale options declined in late October.

The Bucks similarly declined Beauchamp's option. The Wizards could see if he fits their culture, let his contract expire and move on, or they could waive him outright after the trade.

Washington and Oklahoma City may feel strongly about which pick they get from the Suns (2026 or 2028), but the Thunder may get first dibs, as they'd keep the Wizards from hitting the luxury tax by taking Davis.

Why the Oklahoma City Thunder Do It

Stephen Gosling/NBAE via Getty Images

WASHINGTON, DC - JANUARY 16 : Johnny Davis #1 of the Washington Wizards warms up before the game against the Phoenix Suns on January 16, 2025 at Capital One Arena in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory Copyright Notice: Copyright 2024 NBAE (Photo by Stephen Gosling/NBAE via Getty Images)

In: Johnny Davis, 2028 first-round pick (worst of BKN, PHI, WAS and PHX)

Out: 2025 first-round pick

After signing Alex Caruso to a four-year, $81.1 million extension, the Thunder won't have the long-term budget or minutes to properly develop all the players whom they draft in 2025. Davis wouldn't put them into the luxury tax and could get a new start in Oklahoma City, or the Thunder could let him go either immediately or after the season.

With 2-3 picks in the 2025 draft (depending on protections), the Thunder are considering trading some of those for future picks. The one from Miami is currently projected to be in the 12-16 range, but it could be lower if the Heat and Suns improve after the deal.

Butler may be talented, but Miami would be adding depth in this deal and consistently tends to overachieve. Instead, the Thunder would get a 2028 first-rounder from teams (lowest of the Wizards, Nets, 76ers or Suns) in precarious long-term positions.

If anything, the Thunder gets another pick that they can then turn around and trade for more picks later on, which seems to be their modus operandi.

One final reminder: This concept falls apart if Beal refuses to participate. So Bradley, please, let's get this done.

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