The Miami Heat have reached an agreement to sign five-time NBA All-Star and four-time champion Klay Thompson following a contract buyout with the Dallas Mavericks, ESPN reported Friday.
Thompson, 36, is expected to finalize a two-year deal worth nearly $13 million, including a player option for the second season, after clearing waivers. The move comes after the Mavericks and Thompson mutually agreed to part ways, waiving his remaining $17.5 million salary for the 2024-25 season.
Mavericks president of basketball operations Masai Ujiri issued a statement Friday, 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.”
The Mavericks confirmed the roster move in a statement, marking the end of Thompson’s two-season tenure in Dallas. He was acquired via a sign-and-trade from the Golden State Warriors in 2024 and appeared in 141 regular-season games for the Mavericks, averaging 12.9 points, 2.8 rebounds, and 1.7 assists per game. His field-goal percentage last season was 40.3%, including 38.3% from three-point range.
Thompson’s Move to Miami: A Strategic Fit
Thompson’s arrival in South Florida addresses a key need for the Heat, who recently acquired two-time NBA MVP Giannis Antetokounmpo in a blockbuster trade. The Heat had traded Tyler Herro, a primary perimeter shooter, to facilitate the Antetokounmpo deal, leaving a void in their three-point shooting.
Thompson, a 13-season veteran with the Warriors, is widely regarded as one of the NBA’s premier long-range shooters. His addition bolsters Miami’s depth alongside Tim Hardaway Jr. (40.7% from three last season) and Andrew Wiggins (41.4% from three), providing head coach Erik Spoelstra with another proven perimeter threat.
The Heat have framed themselves as title contenders in the Eastern Conference, and Thompson’s championship pedigree—including four rings with Golden State—aligns with that ambition. His role is expected to be complementary, leveraging his experience to mentor younger players while contributing offensively.
Mavericks’ Rebuild Continues Under New Leadership
The Mavericks’ decision to buy out Thompson’s contract reflects a shift toward youth development, with the team prioritizing first-time NBA head coach Dusty May and rookie of the year Cooper Flagg. Thompson’s departure follows the team’s acquisition of Kyrie Irving, who is expected to return from injury next season.
In a social media post, the Mavericks’ account praised Thompson, writing: “One of the greatest to ever do it. Champion, leader and a true pro. Thanks for everything, Cap.”
Thompson’s buyout clears salary-cap space for Dallas, which remains in rebuild mode after drafting Flagg with the No. 1 pick in the 2024 NBA Draft. The team’s front office has emphasized a long-term vision centered on Flagg and Irving as cornerstones.