MIAMI — Klay Thompson cleared waivers Sunday afternoon. The Miami Heat announced the signing that night. The Dallas Mavericks had bought out the final year of his contract three days earlier.
Miami did not release terms. However, sources told Dallas Sports Journal he signed a two-year, $11.5 million deal. The second year is under $5.9 million with a player option and a 15% trade kicker.
Thompson wore No. 31 in Dallas. In Miami, he goes back to No. 11, his number for 11 seasons in Golden State.
Thompson is 36. He has played 934 NBA games and averaged 18.6 points. Four championships came with Golden State, in 2015, 2017, 2018, and 2022. He made five All-Star teams between 2015 and 2019.
Pat Riley On The Klay Thompson Signing
Miami traded for Giannis Antetokounmpo in June. The Heat then split their midlevel exception between Thompson and Tim Hardaway Jr. Bam Adebayo is the center. Heat president Pat Riley has Thompson in a role at both ends of the court.
“Klay is one of the most iconic players to ever suit up in the NBA,” Riley said. “A four-time battle tested world champion who will fit perfectly into his role as an all-around player at both ends of the court.”
“We all talk about his shooting skill, but there is so much more he brings to the game,” Riley continued. “We are blessed that Klay chose the Heat in our quest to challenge for championships.”
Miami still has its 14th and 15th roster spots open. Heat camp opens Sept. 29.
Klay Thompson’s Two Seasons With The Dallas Mavericks
Over two seasons in Dallas, Thompson played 141 games and started 80. He averaged 12.9 points, 2.8 rebounds, and 1.7 assists on 40.3% shooting from the field and 38.7% from 3-point range.
Dallas got him from Golden State in a six-team sign-and-trade in the summer of 2024, on a three-year, $50 million contract. He started all 72 games he played in 2024-25 and averaged 14.0 points.
Thompson came off the bench 61 times last season and started eight. He averaged 11.7 points, 2.1 rebounds, and 1.4 assists in 21.7 minutes. The 39.3% from the field was a career low. So were the 38.3% from 3-point range and the 76.6% at the line.
Thompson has made 2,899 3-pointers, fourth on the NBA’s career list. Ray Allen retired with 2,973. Thompson needs 74 more to pass him. He holds the single-game record with 14 and has hit 10 or more nine times.
What The Buyout Leaves The Dallas Mavericks
Thompson had been owed $17.5 million for 2026-27. Michael Scotto of HoopsHype reported that roughly $9.8 million came off that number. Dallas did not disclose terms.
Mavericks president of basketball operations Masai Ujiri put out a statement Friday. General manager Mike Schmitz went on 1310 The Ticket minutes after the announcement.
Dallas went 26-56 last season and finished 12th in the Western Conference. The Mavericks have not made the playoffs since 2024. They shot 34.4% from 3-point range as a team. Their offensive rating of 110.3 ranked 27th of 30.
Cooper Flagg won Rookie of the Year on April 27 with 56 of 100 first-place votes. Mavericks coach Dusty May replaced Jason Kidd. Kidd and Dallas parted ways May 19 after five seasons.
Mavericks camp opens Sept. 22. Dallas is one of six teams starting early because of preseason games outside North America. The regular season begins Oct. 21 at Houston, with tip-off at 7:30 p.m. CT. Miami opens the same night at home against Minnesota.
