The Miami Heat are reportedly taking themselves out of the Jimmy Butler trade sweepstakes for the time being. 

According to Ira Winderman of the Sun-Sentinel, team president Pat Riley recently addressed Heat players at practice and explained that he is "pulling the plug" on trade talks with Minnesota. Winderman notes that Riley did not say anything about standing by his young players, but was merely keeping them aware of the process.

Of all the teams that were interested in acquiring the 29-year old All-Star, reports suggest the Heat were closest to striking a deal with the Minnesota Timberwolves. Miami was reportedly on the brink of a trade with Minnesota prior to the start of the season and had been pushing the Wolves to accept a revised trade offer for Butler. However, proposed changes from Minnesota created a "breakdown” in negotiations, according to Marc Stein of The New York Times. Since then, trade talks have become "dormant," according to The Athletic's Shams Charania.

The Timberwolves kicked off the 2018-19 regular season on Wednesday night with a 112-108 loss to the Spurs in San Antonio. Butler finished with 23 points, seven rebounds and three assists in the loss. The Wolves will host the Cleveland Cavaliers in their home-opener tonight.

Meanwhile, the Heat are back at .500 after losing to the Magic on Wednesday and defeating the Washington Wizards at the buzzer last night.