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Klay Thompson Buyout, to Sign with Miami Heat

PUBLISHED Aug 22, 2026, 3:51 PM ET

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Klay Thompson Buyout, to Sign with Miami Heat

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The Dallas Mavericks agreed to buy out Klay Thompson’s contract on August 21, ending his two-season tenure with the team and making him an unrestricted free agent. The Mavericks confirmed the agreement in an official announcement, with president of basketball operations Masai Ujiri thanking Thompson for his contributions. ESPN and other major outlets reported that Thompson intends to join the Miami Heat after clearing waivers. ESPN reported a planned two-year contract worth nearly $13 million, including a player option for the second season. Thompson, 36, averaged 11.7 points and shot 38.3% from three-point range in 69 games for Dallas during 2025-26. He averaged 12.9 points and 38.7% three-point shooting across 141 games with the Mavericks. Thompson previously spent 13 seasons with Golden State, winning four championships. Miami’s reported interest reflects its need for perimeter shooting alongside Giannis Antetokounmpo and Bam Adebayo. The Miami signing remained pending official confirmation during the final freshness search.

By James Porter | JQJO News

Timeline of Events

On July 6, 2024, Dallas acquired Thompson through historic six-team sign-and-trade.
On July 6, 2024, Thompson began his two-season Mavericks tenure officially.
On February 2, 2025, Dallas traded Luka Doncic to Los Angeles Lakers.
On March 2025, Kyrie Irving suffered a season-ending ACL injury.
On April 2025, Dallas missed playoffs during Thompson's first season there.
On April 2026, Dallas again missed playoffs after rebuilding around Flagg.
On August 19, 2026, Miami remained interested while Dallas considered Thompson's future.
On August 21, 2026, Dallas officially announced Thompson's contract buyout agreement.
On August 21, 2026, ESPN reported Thompson planned Miami after clearing waivers.
On August 22, 2026, multiple outlets reported Miami remained Thompson's expected destination.
On August 23, 2026, official Miami signing confirmation remained unavailable during research.
In coming days, Thompson should complete waivers before signing Miami contract.
During training camp, Miami will evaluate Thompson's role and defensive workload.
During 2026-27, Thompson's shooting could improve Miami's spacing significantly.
Over subsequent seasons, his performance will determine Miami's longer-term roster value.

News Intelligence

Immediate US impact: Miami gains veteran shooting; Dallas opens roster space for youth.
Possible long-term US impact: Move could reshape Eastern Conference depth and championship expectations.
Reader priority: Readers should prioritize official team announcements and established reporters over social-media speculation.
Most Affected: Miami fans, Dallas fans, players, coaches, front offices, NBA contenders.