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Klay Thompson Joins Heat After Mavericks Buyout

PUBLISHED Aug 21, 2026, 9:25 PM ET

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The Dallas Mavericks and Klay Thompson agreed to a contract buyout Friday, ending his two-season tenure with Dallas and making the veteran guard an unrestricted free agent. Thompson is expected to join the Miami Heat after clearing waivers, according to ESPN’s Shams Charania and other reports. The Mavericks confirmed the buyout but did not announce his next team. Thompson had $17.5 million remaining on the final year of his three-year, $50 million contract signed in 2024. ESPN reported he plans to sign a two-year deal worth nearly $13 million with Miami, including a player option for the second season. The 36-year-old five-time All-Star averaged 11.7 points and shot 38.3% from three-point range last season. Miami recently acquired Giannis Antetokounmpo and also has Bam Adebayo and Andrew Wiggins. Thompson’s move would add perimeter shooting and championship experience as Miami prepares for the 2026-27 season. The signing was subject to waiver procedures.

By Michael Grant | JQJO News

Timeline of Events

On July 6, 2024 Dallas acquired Thompson through six-team sign-trade.
On August 21, 2026 Dallas announced Thompson's buyout agreement officially.
On August 21, 2026 Thompson became an unrestricted free agent.
On August 21, 2026 ESPN reported Miami as Thompson's destination.
On August 22, 2026 Thompson remained subject to NBA waivers.
On August 22, 2026 Miami prepared for Thompson's expected signing.
Over coming days, Thompson should clear waivers and sign soon.
During September, Thompson should enter Miami's training camp rotation discussions.
During 2026-27, Miami will test Thompson's shooting alongside Antetokounmpo carefully.
Over coming months, Thompson's durability and efficiency will shape ceiling.
By postseason, Miami's spacing may determine Thompson's playoff role significantly.

News Intelligence

Immediate US impact: Miami gains elite shooting for its revamped championship-focused roster.
Possible long-term US impact: Thompson's performance could reshape Miami's Eastern Conference competitiveness.
Most affected groups: Miami fans, Mavericks fans, Heat players, NBA contenders, and Thompson.
Reader priority: Readers should prioritize official announcements, waiver confirmation, and independently sourced contract reporting.