As he's increasingly the subject of trade rumors, Miami Heat star Jimmy Butler might want to stay put more than anything else, according to ESPN's Brian Windhorst.

Windhorst said Thursday on First Take he believes "Butler's preference would be to sign an extension in Miami." However, he added that most executives around the NBA think Butler is the big star most likely to get moved before the Feb. 6 trade deadline:

Butler set this all in motion when he made it clear in the offseason that he intends to decline his 2025 player option and hit free agency.

The Heat typically don't trade away star players, and their short-term focus is firmly on contending. Still, the organization can't totally ignore the potential benefits of trading Butler now when he's on an expiring contract.

ESPN's Shams Charania reported this week that Miami is "open" to moving the six-time All-Star for the right price. Butler's agent, meanwhile, indicated his client wouldn't mind landing with the Phoenix Suns, Golden State Warriors, Dallas Mavericks or Houston Rockets, per Charania.

Bernie Lee, who represents the veteran forward, responded to the rumors in a series of posts on X. Among other things, he called Charania's reporting "complete and utter made up bulls--t" and said it was "fabricated."

Charania responded Thursday on First Take (via Awful Announcing) by saying his story was "fully vetted" and that "I 1,000 percent stand by my reporting."

In addition, the Miami Herald's Anthony Chiang provided some important context Thursday when he reported that Butler "has never asked to be traded and the Heat is not aggressively shopping him."

Butler and Miami each have compelling reasons to carry this partnership further.

The 35-year-old has already seen what he can achieve in South Florida. Sure, the Heat haven't won a title, but reaching two NBA Finals is much better than a lot of franchises have fared over the past five years.

The Heat know they're likely to go backwards if they trade Butler or watch him sign elsewhere in free agency as well. They don't have a lot of salary cap flexibility to chase a star on the open market, and acquiring one—sans Butler—via trade leaves them in the same position they're in now. They'd be at least one more marquee talent away from seriously challenging for a championship.

As much Butler's future appears to be in flux, the saga could have a pretty anticlimactic conclusion this summer.