Jimmy Butler to be traded to Warriors, agrees to extension

The Pistons are also involved in the trade and will receive Lindy Waters III from Golden State and Josh Richardson from Miami, Charania tweets.

Schröder is heading to Utah, which was first reported by Jake Fischer of The Stein Line.

It was originally slated to be a five-team deal with Anderson going to the Raptors, but that part fell through, sources tell Charania. He adds that Miami is currently holding onto Anderson, who has an $8.78M salary and two years left on his contract.

P.J. Tucker, whom the Jazz acquired over the weekend, is also headed to Miami, sources tell Charania. Tucker played for the Heat during the 2021-22 season.

Miami will have a full 15-man roster if Anderson isn’t moved elsewhere before the trade deadline, notes Anthony Chiang of The Miami Herald.

Charania reports that Butler has agreed to a two-year, $111M extension with the Warriors that will run through the 2026-27 season. As part of that deal, he will decline his $48.8M player option for next season.

An inability to work out an extension is the major reason that Butler was unhappy in Miami. He has been suspended three times over the past month and was away from the team as the front office tried to find an acceptable offer before Thursday’s deadline. Butler had requested a trade in hopes of going to a team that was willing to make a long-term commitment.

Under the extension, Butler will earn $54,126,450 next season and $56,832,773 in 2026-27, according to salary cap expert Yossi Gozlan. Gozlan notes that adding Butler ensures that the Warriors will continue to have a large payroll, and they’ll be deep in luxury tax territory if they re-sign restricted free agent Jonathan Kuminga. Butler has a $407,123 trade bonus that will increase his current salary to $49.2M, Gozlan adds.

However, Butler may need to waive that trade bonus to help Golden State fill out its roster and remain under the first apron, per Bobby Marks of ESPN. Without the bonus, the team is currently $1.8M below the apron with 11 players under contract. The Warriors will have to fill at least three of their four open roster spots within two weeks. Marks states that it’s possible, but the timing of each signing will be important.

The Heat had an opportunity to duck beneath the tax threshold, according to Gozlan, but that won’t happen if they hold onto Anderson. According to Marks, Miami is currently $7.8M above the tax line and $3.1M over the first apron.

Miami will receive the Warriors’ 2025 pick with top-10 protection, sources tell Zach Lowe (Twitter link). The same protection will be in effect for 2026 if the pick doesn’t convey this year.

The Pistons will receive a second-round pick from Golden State for taking on Waters’ $2.2M expiring contract, tweets Omari Sankofa II of The Detroit Free Press, who doesn’t offer any more specifics of the pick.

As part of the Tucker-Schröder swap, the Jazz will receive the more favorable 2031 second-round pick from the Heat or Pacers, according to Andy Larsen of The Salt Lake Tribune.

This week’s latest mega-deal seems to ensure that Kevin Durant will remain with the Suns past the deadline. The Warriors and Heat were reportedly the teams making the strongest effort to get Phoenix to part with Durant.