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Klay Thompson Contract Buyout, Signs with Miami Hea

PUBLISHED Aug 23, 2026, 12:27 PM ET

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The Dallas Mavericks have finalized a contract buyout with veteran guard Klay Thompson, ending a two-year tenure that fell short of expectations . Thompson, 36, is expected to sign with the Miami Heat once he clears waivers . The four-time NBA champion was set to make $17.5 million this season but agreed to surrender roughly $9.8 million in the buyout to facilitate his departure . He is now poised to join a Heat roster that added superstar Giannis Antetokounmpo via trade last June . Thompson originally joined Dallas in a sign-and-trade deal from Golden State in 2024, but the team's direction shifted after Luka Doncic was traded to the Lakers in February 2025 . In Dallas, he averaged 12.9 points across 141 games . The Mavericks, who have embraced a rebuild around top draft pick Cooper Flagg, granted Thompson's request to pursue a championship opportunity . Miami views Thompson as a critical floor-spacing addition to complement Antetokounmpo and center Bam Adebayo. He is expected to sign a two-year contract worth approximately $13 million, utilizing the Heat's remaining mid-level exception .

By Daniel Hayes | JQJO News

Timeline of Events

· July 2024: Thompson joined Dallas via a sign-and-trade from Golden State .
· February 2025: Mavericks traded Luka Doncic to the Lakers .
· March 2025: Kyrie Irving tore his ACL, further derailing Dallas' season .
· May 2025: Mavericks won the NBA draft lottery despite missing playoffs .
· June 2025: Dallas drafted Duke star Cooper Flagg with the No. 1 pick .
· June 2026: Heat acquired Giannis Antetokounmpo from the Milwaukee Bucks .
· August 20, 2026: Mavericks announced an agreement on a contract buyout with Thompson .
· August 21, 2026: Reports confirmed Thompson is expected to sign with the Heat .
· August 23, 2026: Thompson is eligible to sign with Miami after clearing waivers .
· 2026-27 Season: Thompson is expected to be a key veteran role player for the Heat's title aspirations .

News Intelligence

Immediate US Impact: Major NBA roster shakeup in Dallas and Miami title contender.
· Long-term US Impact: Heat established as East favorite; Dallas commits to youth movement.
· Affected Groups: Heat and Mavericks fans, NBA Western and Eastern conferences.
· Reader Priority: Verify official team announcements and waiver clearance status.