The Dallas Mavericks announced on Friday that they have agreed to a contract buyout with five-time All-Star Klay Thompson, ending his two-year tenure with the franchise. Thompson was entering the final year of his contract and was due to earn $17.5 million for the 2026-27 season.
Mavericks and Klay Thompson Agree to Contract Buyout
Following the buyout announcement on Bleacher Report, Thompson is expected to sign with the Miami Heat once he clears waivers, as reported by ESPN’s Shams Charania. Assuming another club does not claim him off waivers, he may be able to sign with Miami as early as Sunday. The proposed agreement with the Heat is a two-year deal worth $13 million, which includes a player option for the second season.
Mavericks president of basketball operations Masai Ujiri addressed the roster move in a statement released by the team. Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization,
Ujiri said. We have tremendous respect for Klay and all that he has accomplished throughout his career.
The Fallout From the Luka Dončić Trade and Roster Turnover
Thompson originally joined Dallas during the 2024 offseason via a sign-and-trade with the Golden State Warriors, bringing one of the league’s all-time great three-point shooters to complement Luka Dončić and guard Kyrie Irving. However, the high expectations for that trio were upended when the Mavericks traded Dončić to the Los Angeles Lakers for Anthony Davis before the 2025 trade deadline.
Shortly after, Irving suffered a torn ACL in his left knee and remained sidelined, while Davis was subsequently traded to the Washington Wizards prior to the February trade deadline. The franchise overhaul also included a new front office featuring Ujiri and general manager Mike Schmitz, along with head coach Dusty May replacing Jason Kidd.
Despite the turbulent roster changes, Thompson remained a durable presence, playing in 141 of a possible 164 games across his two seasons in Dallas and hitting 418 three-pointers. He averaged 12.9 points per shot and shot 39 percent from beyond the arc during his Mavericks tenure. After Dallas won the NBA draft lottery and selected Duke star freshman Cooper Flagg—who won Rookie of the Year—Thompson shifted into a bench role for most games, a tactical adjustment from the starting promise he received upon his initial arrival.
Joining the Miami Heat and Reflecting on an Illustrious Career
Thompson’s departure marks a significant lowering of his market value around the league following injuries and age. After missing two full seasons earlier in his career due to a torn ACL and a torn Achilles with Golden State—where he won four NBA titles alongside Stephen Curry and Draymond Green—his production dipped. Last season in 69 appearances, he averaged 11.7 points and shot career lows of 39.3 percent overall and 38.3 percent from three-point range.
Despite these declines, Thompson remains fourth on the NBA’s all-time career three-point list with 2,899 makes, having passed Damian Lillard in January. He trails only Stephen Curry, James Harden, and Ray Allen.
In Miami, Thompson is expected to join a roster that added Giannis Antetokounmpo over the summer. According to AOL, the 36-year-old veteran is pursuing another championship ring before concluding his career. The move also continues a busy offseason for the Mavericks, whose roster retooling leaves just five players remaining from opening day two years ago, according to reporting by chicagotribune.com and SFGate.
Related reading