Jimmy Butler becomes eligible to sign a contract extension with the Miami Heat this offseason on July 7th. Butler is signed for 24-25 at $48.8 million and holds a $52.4 million player option for 25-26.
Butler could sign a one-year extension for 26-27 at $58.6 million, or he could sign a two-year, $112.9 million option that covers both 25-26 and 26-27, which would void his $52.4 million option for 25-26.
Butler signed a four-year, $184 million extension with the Heat during the 2021 offseason after Year 2 of his four-year, $142 million deal signed in 2019.
Butler will turn 35 before the start of the 24-25 season.