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Klay Thompson to Join Miami Heat Following Buyout With Mavericks

PUBLISHED Aug 21, 2026, 9:53 PM ET

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Klay Thompson to Join Miami Heat Following Buyout With Mavericks

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Four time NBA champion Klay Thompson is expected to sign a new contract worth nearly thirteen million dollars with the Miami Heat after finalizing a contract buyout with the Dallas Mavericks. The agreement concludes a difficult stint in Dallas where the veteran sharpshooter averaged eleven points per game during a challenging campaign. Thompson sought a departure to join a contending roster following massive organizational shifts in Texas including the draft of rookie Cooper Flagg. Miami emerged as the clear frontrunner utilizing remaining salary exception funds to secure the elite perimeter shooter. The Heat front office views Thompson as a crucial floor spacer who will complement center Bam Adebayo and recently acquired superstar Giannis Antetokounmpo. Thompson must clear league waivers before the transaction becomes official over the upcoming weekend. The move significantly alters the Eastern Conference competitive landscape providing Miami with vital veteran championship pedigree as training camps approach this autumn.

By Emily Rhodes | JQJO News

Timeline of Events

On February 8, 2011, Golden State drafted Klay Thompson eleventh.
On July 6, 2024, Klay Thompson joined the Dallas Mavericks.
On February 6, 2025, Dallas traded Luka Doncic to Lakers.
On April 13, 2026, Dallas concluded a difficult regular season.
On August 21, 2026, Dallas announced a contract buyout agreement.
On August 21, 2026, Shams Charania reported impending Miami signing.
On August 22, 2026, media outlets confirmed terms of contract.
On August 23, 2026, Thompson will officially clear league waivers.
On August 24, 2026, Miami will announce his new contract.
On October 1, 2026, Thompson will join team training sessions.

News Intelligence

Immediate US impact: Miami immediately gains championship experience and elite perimeter shooting depth.
Possible long-term US impact: Eastern Conference title contenders face heightened competition throughout upcoming playoffs.
Most affected groups: Dallas Mavericks fans and Miami Heat basketball operations executive teams.
Prioritize: Prioritize official franchise announcements and verified insider transaction reporting updates.