Klay Thompson is expected to join the Miami Heat on a two-year, $13MM contract following his release from the Dallas Mavericks, according to Barry Jackson of The Miami Herald. The 36-year-old veteran guard, who captured four championships with the Golden State Warriors, was waived by the Mavericks on Friday via a buyout agreement.
Roster Dynamics and Miami Target Nick Richards
Thompson will occupy Miami’s 13th standard roster spot, leaving the team room for one more player under a standard contract, according to Jackson. Free agent center Nick Richards has emerged as a player of considerable interest for that 14th roster spot.
Richards is currently evaluating offers from multiple teams, per Jackson, and it remains unclear if rival clubs have tabled larger guaranteed salary figures than the Heat. As Jackson confirmed on Wednesday, Richards has been working out in Miami alongside Heat players. Team evaluators monitored those sessions closely after Jackson reported the franchise was still assessing the 28-year-old big man.
Pro Tip: NBA front offices often utilize late-summer workouts to test free agent conditioning before committing standard or two-way roster slots ahead of training camp.
Frontcourt Options and Deadline Strategy
The Heat are targeting a frontcourt reinforcement—specifically a center or power formward—with their 14th spot, according to Jackson. Two unidentified centers remain on the franchise’s radar alongside Richards.
Jackson suggests Miami might hold off on filling the slot until later this month. August 29 at 4:00 pm CT marks the deadline for teams to waive players and allow them to clear waivers by August 31, which is the final date clubs can utilize the stretch provision on a player contract.
Keshad Johnson and Guard Depth Considerations
Free agent forward Keshad Johnson is a candidate to return to Miami on either a standard deal or a two-way contract, according to Jackson. Johnson has spent the past two years with the Heat organization after going undrafted in 2024 and has continued working out with the team.
Gabe Vincent also remains on the Heat’s radar, per Jackson. However, based on the reported financial terms of Thompson’s contract, the Heat lack enough room below their first-apron hard cap to add a 15th man until after the regular season tips off. Sourcing indicates that adding a backcourt player is currently a secondary priority.
Did you know? The Heat let the $5.6MM traded player exception created in the Haywood Highsmith trade with Brooklyn expire on August 18, notes Ira Winderman of The South Florida Sun Sentinel. Winderman observes that Miami has allowed 10 of its past 12 traded player exceptions to expire without utilization.
Frequently Asked Questions
Why was Klay Thompson waived by the Mavericks?
Klay Thompson was waived by Dallas on Friday following a buyout agreement after playing a single season with the franchise.
What is the financial value of Klay Thompson’s expected contract with the Heat?
Klay Thompson is expected to sign a two-year deal worth approximately $13MM with Miami, according to Barry Jackson of The Miami Herald.
Who are the Heat targeting for their open roster spots?
Miami is targeting a big man—such as center Nick Richards or two unidentified targets—for their 14th roster spot, while Keshad Johnson remains a candidate for a standard or two-way contract.
Can the Heat sign a 15th player immediately?
No. Based on the financial structure of Klay Thompson’s deal and the first-apron hard cap, the Heat cannot add a 15th player until after the regular season begins.
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