Jimmy Butler throws a fancy party amid a heat lockdown with comedian Andrew Schulz

Seems not Jimmy ButlerHe's sweating over his latest suspension with the Heat… because just hours after the basketball player's team slapped him with a two-game suspension, he was spotted hanging out with the famous comedian Andrew Schultz at a swanky party.

TMZ Sports has learned that Butler made his way to the Reserve Cup Draft & Dinner hosted by the Moncayo Ocean Club on Wednesday night … just hours after he was penalized by the Heat for skipping the team's flight to Milwaukee had missed the upcoming away game against the Bucks.

Butler didn't seem to care in the slightest about the trouble with his employer… as he smiled broadly while rubbing elbows with a number of celebs, including Schulz, Jerry Jeudy And Wayne Boich.

“He talked about sports and met the best padel players in the world,” we are told. “He loves the sport and the competitive fire that these athletes exude.”

The meeting was a prelude of sorts for the Reserve Cup Miami – scheduled to take place in South Florida from Thursday to Saturday. Butler is listed as an honorary chairman and co-captain at the festivities – even though he was scheduled to play Thursday night against Milwaukee and Saturday night against the Nets before being suspended.

We're told Schultz actually made a joke about how much hot water Butler gets at his job… and told the crowd, “If anyone asks, he wasn't here.”

“He practiced at the Heat facility,” he continued to the roar of the audience. “That was someone else you saw.”

All joking aside, Butler's relationship with the Heat appears to have finally come to an end… as Wednesday's suspension marked the second time this season that Miami has had to suspend him from games.