The Dallas Mavericks agreed to a buyout of Klay Thompson’s contract, clearing the way for the sharpshooter to join the Miami Heat. The 36-year-old will reportedly sign a two-year deal worth nearly $13 million, with a player option, after clearing waivers.
The move allows Thompson to become an unrestricted free agent, with ESPN reporting he is set to sign with the Miami Heat once he clears waivers. The five-time All-Star, who was owed $17.5 million for the 2026-27 season, will reportedly join the Heat on a two-year deal worth $13 million, including a player option, according to Shams Charania of ESPN.
Buyout Details and Financial Terms
The Mavericks’ decision to buy out Thompson’s contract came after a decline in his performance and role within the team. Thompson, who signed a three-year, $50 million deal with Dallas in 2024, was entering the final year of his contract. The buyout frees him to sign with any team, but his move to the Heat hinges on him not being claimed by another club during the waiver process.
The financial terms of the deal highlight the reduced value of Thompson’s market. While he was set to earn $17.5 million in the 2026-27 season, the Heat’s offer is significantly lower. The two-year contract, which includes a player option, reflects the team’s assessment of Thompson’s remaining impact. The Mavericks, meanwhile, avoided paying the full $17.5 million by buying out the final year of his deal, a move that aligns with their broader roster restructuring efforts.
Thompson’s Decline and the Mavericks’ Roster Shifts
Thompson’s time in Dallas was marked by a gradual decline in his effectiveness. After joining the Mavericks in a sign-and-trade with the Golden State Warriors, he struggled to maintain his All-Star form. In his second season, he averaged 11.7 points per game, shooting a career-low 38.3% from three-point range. The Mavericks’ decision to shift him to a bench role, following the trade of Luka Dončić, further diminished his impact. The team’s focus on rebuilding, including the selection of Cooper Flagg with the No. 1 overall pick, signaled a shift away from veteran players like Thompson.
The Mavericks’ president of basketball operations, Masai Ujiri, praised Thompson’s contributions in a statement, calling him one of the great players and competitors of his generation.
Ujiri added that the franchise has tremendous respect
for Thompson’s career achievements. However, the decision to buy out his contract underscores the challenges of integrating a high-salary veteran into a rebuilding team. Thompson’s reduced role and declining performance made the buyout a pragmatic move for Dallas.
Heat’s Pursuit of a Championship Contender
The Miami Heat’s interest in Thompson reflects their strategy to compete for a championship in the 2026-27 season. With Giannis Antetokounmpo now on the roster, the Heat are seeking additional depth and experience. Thompson’s three-point shooting and playoff experience make him a valuable addition, even as his overall production has declined. The Heat’s ability to absorb his salary and role aligns with their immediate goals, as they look to capitalize on Antetokounmpo’s arrival.
Thompson’s potential move to the Heat also highlights the evolving landscape of the NBA’s free agency. Teams are increasingly prioritizing short-term wins over long-term contracts, a trend that has affected veterans like Thompson. His decision to join the Heat, rather than return to the Warriors, signals a desire to win a championship before retiring.
The next critical step is Thompson clearing waivers. If unclaimed, he could sign with the Heat as early as August 24. The Mavericks, meanwhile, continue their rebuild under new leadership, with a focus on young talent and long-term growth. For Thompson, the move to the Heat represents one final chance to compete for a title, even as his role on the court has evolved.
