JImmy Butler is in the final year of a contract paying him $49 million this season, and he has a player option for next season for $52 million. In 2021, with one guaranteed year left on his deal, Butler extended his contract with the Heat in a similar situation.

Per the report, the All-Star forward plans to decline his 2025-26 player option and become a free agent in July.

Butler is averaging 18 points, 5.7 rebounds and 4.7 assists while shooting a career-high 55.3% from the field. He has led the Miami Heat to two NBA Finals and one additional Eastern Conference Finals.