Klay Thompson expected to sign with Heat after agreeing to buyout with Mavericks, per report

by | Aug 22, 2026 | Sports

Klay Thompson expected to sign with Heat after agreeing to buyout with Mavericks, per report

The Dallas Mavericks announced a buyout agreement with Klay Thompson on Friday, opening the door for the veteran wing to enter the free agent market. ESPN subsequently reported that Thompson is expected to join the Miami Heat on a two-year contract worth $13 million, which includes a player option for the second year contingent on him clearing waivers.

Thompson, 36, spent two seasons with Dallas after signing in 2024, appearing in 141 games and averaging 12.9 points while shooting 40.3% from the field, 38.7% from three-point range, and 85.1% from the free throw line. The Mavericks determined that parting ways made sense as the franchise shifts toward a youth-oriented approach headlined by reigning Rookie of the Year Cooper Flagg. Team leadership elected to complete the buyout ahead of training camp to allow Thompson the chance to pursue a championship contender.

Mavericks president of basketball operations Masai Ujiri praised Thompson’s contributions, stating the organization remained grateful for his tenure. Thompson’s move to Miami addresses a significant need for the Heat, who recently acquired Giannis Antetokounmpo but lost shooting depth when trading Tyler Herro to Milwaukee and allowing Norman Powell to depart in free agency. Miami initially pursued LeBron James but adjusted course after James opted to join the Philadelphia 76ers.

Thompson will complement Andrew Wiggins, Nikola Jovic, Tim Hardaway Jr., and Dru Smith in Miami’s wing rotation under coach Erik Spoelstra. While his shooting efficiency has declined from his peak following recovery from ACL and Achilles injuries, Thompson has maintained a 39.3% three-point shooting rate on 8.8 attempts per game over the past five seasons. The Heat view his shooting acumen as essential given roster constraints imposed by their salary cap situation.

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