Jimmy Butler may prefer a trade to the Phoenix Suns, but that hasn’t stopped the Miami Heat from talking to other teams.
The Memphis Grizzlies are “lurking” in trade talks and have been in contact with the Heat, sources told ESPN.
Here’s more from ESPN’s Brian Windhorst and Tim Bomtemps:
The Grizzlies are lurking in Butler trade talks, sources said, and have been in contact with the Heat during the process. Rival league executives believe Memphis is trying to combine a talent influx with offloading some future salary so it can facilitate a contract extension for Jaren Jackson Jr. as early as this summer.
Butler, meanwhile, has made it known that he could opt out of his contract this summer and seek free agency. Sources have theorized that if the Grizzlies can acquire him for a playoff run and also free cap space this summer, that's where their interests might lie.
Would the Grizzlies trade for Jimmy Butler anyway?
Butler, who has a player option for $52.4 million next season, has reportedly informed the Grizzlies that he does not want them to trade for him. So it’s interesting that the Grizzlies are still lingering in these discussions. Presumably, that threat hasn’t been enough to turn Memphis away altogether.
The Grizzlies are currently in third place in the Western Conference. They are built around a core of Ja Morant and Jaren Jackson Jr., with promising rookies Zach Edey and Jaylen Wells making important contributions.
But they are considered a tier below West favorites and former conference champions like the Oklahoma City Thunder, Denver Nuggets and healthy Dallas Mavericks. Making an aggressive move like one for Butler could help the Grizzlies climb into the top tier in the West.
The Grizzlies have several contracts that can be used in a trade, including those of Marcus Smart, Brandon Clarke, Luke Kennard and John Konchar. They also own all of their own first-round draft picks and two more in 2026 (from either Phoenix, Washington or Orlando) and 2030 (from Phoenix or Washington).
According to the report, the Heat have received offers for Butler from other teams. Still, those offers haven’t included what Miami is looking for: players who can help now, young talent, draft capital and salary that expires by the summer of 2026.
Would the Grizzlies consider trading Smart, Clarke, Kennard and draft picks for what could be half a season of Butler?
Such a construction would preserve significant cap in the summer of 2026 when players such as Kevin Durant, Luka Doncic, De’Aaron Fox and Trae Young could be unrestricted free agents.
That deal would satisfy most of Miami’s wishlist. Based on this reporting, that hasn’t been offered. The Heat have until Feb. 6 to find an offer that meets their criteria, or they can let this situation continue beyond the trade deadline.