The Pelicans are the latest team to get involved in Jimmy Butler trade talks, Jake Fischer and Marc Stein reveal in a Substack column (subscriber only).
League sources tell Fischer and Stein that New Orleans contacted the Heat this week about Butler, although terms of the offer weren’t divulged. The authors’ sources say Brandon Ingram‘s $36MM expiring contract would be the basis of the deal.
The Pelicans have been exploring the trade market for Ingram after being unable to work out an extension with him last summer. Sources tell The Stein Line that New Orleans has been attempting to use Ingram’s contract to facilitate a Butler trade, but eventually decided to make its own offer.
Even though Ingram hasn’t played since December 7 due to injury, getting a player with his pedigree would intrigue the Heat as they prepare to make a playoff run. However, the authors aren’t sure what Butler’s reaction might be to joining a 12-36 New Orleans team whose season has been derailed by injuries to numerous rotation players.
Butler makes roughly $12.8MM more than Ingram this season, so the Pelicans would have to add multiple players to match salaries. Fischer and Stein note that they’re currently almost $1.5MM over the tax line and are expected to maneuver underneath it to avoid paying the tax in a lost season. That means one or more additional teams may have to get involved to allow them to acquire Butler and still duck the tax.
The Suns remain Butler’s preferred destination, according to the authors, but that possibility looks increasingly remote as no teams want to take on Bradley Beal‘s contract and Beal appears unlikely to waive his no-trade clause. That leaves the Pelicans with the Warriors, Bucks and Grizzlies as teams that have been publicly linked to Butler. They all have the resources to complete a deal, but Fischer and Stein note that none of them have gone all-in with their efforts to acquire the disgruntled forward.
Stein reported earlier this week that the Raptors have expressed interest in Ingram, marking the first movement on that front in several months. The Pelicans also had preliminary discussions with the Hawks about Ingram, but sources told Stein that they “have not gained significant traction.”