DALLAS — The Klay Thompson era is over for the Dallas Mavericks, and a new one is beginning for the veteran sharpshooter.
Klay Thompson is expected to sign with the Miami Heat after reaching a buyout agreement with Dallas. He can join Miami once he clears waivers, ESPN’s Shams Charania reported Friday.
The Mavericks announced the buyout Friday without disclosing the financial terms. Thompson was owed $17.5 million for the coming season, the final year of his contract.
Thompson wanted to play for a contender and did not view the Mavericks, who won 26 games last season, as being in position to be one, sources told Dallas Sports Journal.
“I want to be in a situation where I can compete [for a title] and play a role on a team that can make a deep playoff run,” Thompson said during a Twitch stream with PlaqueBoyMax on Aug. 14.
Miami gives him that opportunity. The Heat have had a big summer, headlined by their trade for Giannis Antetokounmpo, and Thompson gives them another proven shooter to put around him.
Dallas Mavericks Could Not Find Klay Thompson Trade
Dallas explored the trade market before reaching the buyout. Sources told Dallas Sports Journal that a buyout had become the expected outcome because a sufficient trade market for Thompson never developed.
His $17.5 million salary complicated a deal. Miami would have needed to send matching salary back, and the Heat did not have contracts that made sense for Dallas to take on. With little traction elsewhere, Miami could wait for Thompson to become a free agent rather than surrender assets.
The result allows the Heat to add the four-time NBA champion without sending players or draft compensation to Dallas.
Klay Thompson’s Dallas Mavericks Tenure Ends After Two Seasons
Thompson’s Mavericks tenure ends after two seasons that did not go as originally planned.
When he came to Dallas in 2024, Thompson expected to play alongside Luka Dončić and compete for championships. Instead, Dallas traded Dončić to the Los Angeles Lakers during the 2024-25 season, and the Mavericks ended up in the lottery in both of Thompson’s seasons with the team.
In his first season with Dallas, Thompson averaged 14.0 points per game and made 39.1% of his 3-pointers. He averaged 11.7 points last season and shot 38.3% from deep.
Across his two seasons with the Mavericks, Thompson shot 38.7% from 3-point range.
The 36-year-old is not the same player he was while winning championships with the Golden State Warriors, but his shooting still gives Miami another rotation option around Antetokounmpo.
Klay Thompson Gets Another Chance At The Playoffs
Thompson never reached the playoffs during his two seasons in Dallas.
Miami gives the five-time All-Star a chance to return to the postseason for the first time since his Warriors tenure, this time as part of a Heat roster built around Antetokounmpo.
