The Dallas Mavericks reached a buyout agreement with veteran guard Klay Thompson on August 21, 2026, freeing him to sign with another NBA team [1, 2, 3]. Thompson, 36, was slated to earn $17.5 million in the final year of his contract with Dallas before the buyout [2, 3].
Thompson played two seasons and 141 games with the Mavericks after joining in a 2024 sign-and-trade deal with Golden State. He averaged 12.9 points per game, shooting approximately 40.3 percent from the field, 38.7 percent from three-point range, and 85.1 percent from the free throw line during his Dallas tenure [1, 2, 3].
The Mavericks have shifted focus to younger talent, led by rookie Cooper Flagg, which reduced their need for Thompson’s roster spot. Dallas finished the 2025-26 season with a 26-56 record and replaced head coach Jason Kidd with Dusty May in June [3].
Miami Heat, seeking perimeter shooting depth after trading Tyler Herro and losing Norman Powell in free agency, are expected to sign Thompson soon after he clears waivers [1, 2, 3]. The Heat recently acquired Giannis Antetokounmpo and are building around him and Bam Adebayo [1, 2, 3]. Reports suggest Thompson will sign a two-year deal worth nearly $13 million with Miami [3].
Thompson is a five-time NBA All-Star and four-time NBA champion, mostly with the Golden State Warriors before his stint in Dallas [2, 3]. He ranks fourth all-time in three-pointers made with 2,899, recently surpassing Damian Lillard [2]. His career includes overcoming serious Achilles and knee injuries early on [2, 3].
Mavericks president of basketball operations Masai Ujiri praised Thompson, saying, "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" [1].
Thompson’s signing with Miami marks the next chapter in his career as he joins a roster reshaped around new stars. The contract agreement is expected to be finalized shortly after the waiver period.
