Why the Heat would do it
For the Heat, trading Jimmy Butler for a return like this could be a positive move.
Getting an undrafted player in Reaves would align with the Miami Heat culture, and he could be a perfect piece to surround Bam Adebayo and provide something that Miami desperately needs: scoring.
Although Reaves may not seem like the centerpiece that fans would want in return for a superstar in Butler, if Reaves is given the opportunity to score, he can do it at an elite level. For example, when the Lakers went into Boston this season on February 1st with both Anthony Davis and LeBron James sitting out, Reaves led the way for the Lakers, scoring 32 points, handing the Celtics one of their only four home losses during the regular season.
Adding Rui Hachimura and Jarred Vanderbilt to the roster would be a significant boost, particularly in addressing one of Miami's long-standing challenges—the lack of quality length. With the potential departure of Caleb Martin and Haywood Highsmith in free agency, acquiring two quality forwards who can deliver from the bench would be a significant win for Miami.
Most importantly, if Miami accepted this trade, it would significantly strengthen its trade assets. With the inclusion of both a 2029 and 2031 unprotected first-round pick and a pick swap from the Lakers, Miami would have the potential to trade five first-round picks, including the 15th pick in this year's draft, both Miami's own 2029 and the Lakers 2029 first, plus both Miami's and the Lakers 2031 first. This would position Miami to make a compelling offer to any team if a superstar such as Donovan Mitchell, Trae Young, or Dejounte Murray were to become available.