Jimmy Butler rejected the largest-possible extension the capped-out Timberwolves could offer him this summer – a four-year deal worth $100,514,631 ($25,128,658 average annual salary).
After all, his projected max in free agency this summer is about $190 million over five years (about $38 million annually) if he re-signs or about $141 million over four years (about $35 million annually) if he leaves.
But Minnesota’s extension offer wasn’t technically the largest possible this summer. Theoretically, the Timberwolves could have cleared cap space to renegotiate his salary upward then offered a richer extension based on his new salary.
And apparently that’s what Butler wanted – and didn’t get – before requesting a trade.
Jon Krawczynski of The Athletic:
Butler was hoping for a renegotiation and extension of his contract this summer, one that would have raised his salary for 2018-19 to $30 million and added another four years and $145 million on to that.
The Timberwolves could have trimmed their roster to only their starters – Butler, Andrew Wiggins, Jeff Teague, Taj Gibson and Karl-Anthony Towns. That would have meant using sweeteners to unload Gorgui Dieng‘s negative value contract, dumping recent first-round picks Justin Patton, Tyus Jones and Josh Okogie and not using the mid-level exception on Anthony Tolliver. Only players who signed for the minimum could have still wound up on the roster.
Minnesota still wouldn’t have had enough cap space to renegotiate Butler’s salary up to $30 million.
Perhaps, Butler wanted the Timberwolves to take more drastic measures like trading Wiggins for little to no returning salary. But they clearly weren’t going to do that, and they’d long gone down the opposite road of adding salary. They weren’t coming close to clearing the $10 million of cap space necessary to raise Butler’s salary that much.
This is all raises questions about timing. Nearly every report on Butler’s wishes has gone out of its way to say contract concerns – not problems with Wiggins and Towns – were the primary driver of the trade request. But if that were the case, why now? Butler had to know for months he wasn’t getting his desired extension.