Report: Timberwolves' asking price for Butler remains too steep

The Minnesota Timberwolves' asking price for swingman Jimmy Butler remains too steep for interested teams, sources told ESPN's Adrian Wojnarowski and Zach Lowe. The sources added that they're skeptical of Minnesota's desire to make a deal.

Reports circulated Wednesday that Butler prefers the Miami Heat as a trade destination, sparking rumors of a possible three-way deal involving the Phoenix Suns. However, the Suns reportedly deemed the price tag "far too steep."

Timberwolves president and head coach Tom Thibodeau told reporters at the team's media day on Monday that he wouldn't be forced into a bad deal involving Butler, who requested a trade earlier this month. However, with the clock ticking before the regular season begins Oct. 17, the likelihood increases that Butler will hold out, further weakening Minnesota's leverage.

Butler is also reportedly skeptical of Thibodeau's desire to get a trade done. They were together with the Chicago Bulls for four seasons before reuniting with the Wolves last year.