NBA trade rumors: Heat's Pat Riley says he's 'pulling the plug' on Jimmy Butler deal

Heat president of basketball operations Pat Riley addressed the Jimmy Butler trade rumors with his team Thursday and told the players he was “pulling the plug” on trade negotiations with the disgruntled Timberwolves star. 

Riley told the players who had been mentioned in trade talks that he was standing by them and his intention was to keep the team in the loop during the process, according to a team spokesman who confirmed the conversation to the Sun Sentinel.

The Heat and Timberwolves were on the verge of completing a trade before changes proposed by Minnesota led to a breakdown in talks earlier this month, according to The New York Times

There also were reports the Timberwolves’ asking price was too high for the four-time All-Star and Miami wouldn’t budge.

Butler has two years remaining on the five-year, $92 million deal he signed with the Bulls in 2015. He was traded to the Timberwolves before last season. However, Butler can opt out after this season.

Butler averaged 22.2 points, 5.3 rebounds and 4.9 assists last season for Minnesota, which made the playoffs for the first time since 2004.