Klay Thompson expected to sign with Miami Heat after Mavericks buyout

Klay Thompson expected to sign with Miami Heat after Mavericks buyout

Klay Thompson is expected to sign with the Miami Heat after reaching a buyout agreement with the Dallas Mavericks on Friday, according to ESPN's Shams Charania.

The move follows a period of uncertainty regarding the future of the 36-year-old veteran guard. Thompson and the Mavericks navigated a buyout of his $17.5 million expiring salary after the four-time NBA champion expressed a desire to play for a contender, which according to reports, directly interests Miami.

The Heat may utilize a traded player exception (TPE) to facilitate the signing. Brett Siegel of ClutchPoints reported that Miami has $8.9 million of a TPE remaining, a figure that may match the amount Thompson surrendered in his buyout with Dallas, though the official buyout amount remains pending.

Thompson spent two seasons in Dallas after arriving via a sign-and-trade deal from the Golden State Warriors in July 2024. He had one season remaining on a three-year, $50 million contract. During his tenure with the Mavericks, he appeared in 141 games, averaging 12.9 points and shooting 38.7% from three-point range.

His most recent campaign saw a shift in utility. After starting 72 games in his first season with the franchise, Thompson moved to a bench role last year. In 69 games during the 2025-26 season, he averaged 11.7 points, 2.1 rebounds, and 1.4 assists in 21.7 minutes per game. He shot a career-low 38.3% from beyond the arc during that period.

Masai Ujiri, president of basketball operations for the Mavericks, issued a statement regarding the departure:

"Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization. We have tremendous respect for Klay and all that he has accomplished throughout his career, and we wish him nothing but the best moving forward."

Masai Ujiri, president of basketball operations, via thescore.com

The addition of Thompson provides Miami with a veteran sharpshooter to pair with Bam Adebayo and the newly acquired Giannis Antetokounmpo. Miami struggled with outside shooting last season, finishing 15th in the league with 13.7 three-pointers per contest.

Thompson brings a historic shooting pedigree to South Beach. A career 40.9% shooter from deep, he ranks fourth on the NBA's all-time list with 2,899 triples. The Los Angeles native began his career with the Golden State Warriors, who selected him with the 11th overall pick in 2011. During his 11 seasons with the Warriors, the five-time All-Star was a key component of four championship teams.

While some observers view Thompson and Andrew Wiggins as players who have declined following down seasons, others suggest that surrounding them with high-quality talent could revitalize their impact. In Miami, the interior presence of Antetokounmpo and Adebayo is expected to create more open opportunities for Thompson outside the arc.

Thompson is expected to finalize the move to the Heat once he clears waivers.