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While the Miami Heat were reportedly close to completing a trade for Jimmy Butler, team president Pat Riley now says that deal is dead.

According to Ira Winderman of the Sun-Sentinel, Riley addressed the team regarding the deal but said he is "pulling the plug." The intention was to keep the players in the loop during the process.

Butler had asked for a trade before the start of training camp, but the Minnesota Timberwolves were unable to find a reasonable deal.

Miami seemed on the brink of a trade, with Adrian Wojnarowski of ESPN noting things "escalated close" to a deal before falling apart in early October. Wojnarowski added that Miami had still been pursuing a deal after the first attempt failed.

However, Shams Charania of The Athletic reported Wednesday that talks had become "dormant, which is consistent with Riley's thinking.

Butler has since rejoined the Timberwolves and scored 23 points in the team's 112-108 loss to the San Antonio Spurs on Wednesday.

Meanwhile, the Heat are off to an 0-1 start to the year as well but seem satisfied with the roster as currently constructed.