Free-agent swingman Evan Turner and Portland Trail Blazers guard CJ McCollum are among the active NBA players also signed to the brand. Heat legend Dwyane Wade signed a lifetime deal with Li-Ning in 2018.
The 2019-20 season wasn't a career year for Butler by the numbers. He averaged 19.9 points, 6.7 rebounds and 6.0 assists, and his 24.4 percent clip on three-pointers was his second-lowest ever.
As the Heat unexpectedly advanced to the NBA Finals, though, Butler saw his already large profile skyrocket.
With Bam Adebayo limited by injuries and Goran Dragic out for most of the Finals, the 31-year-old did his best to single-handedly keep Miami competitive. He averaged 26.2 points, 9.8 assists and 8.3 rebounds over the six-game series.
Butler also subtly burnished his commercial profile while inside the NBA's Walt Disney World Resort bubble.
He operated a "Big Face Coffee" stand out of his hotel room and began wearing shirts to tout his upstart coffee house. DePaula reported he was "closing in on a unique long-term partnership" with Lululemon, which produced the shirts.
Between his newest deal with Li-Ning and the four-year, $140.8 million extension he signed with the Heat at the start of last year, Butler is set financially. All that's left is to lift the Larry O'Brien NBA Championship Trophy.