Klay Thompson Signs with Miami Heat After Mavericks Buyout
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Veteran guard Klay Thompson has signed a two-year, $11.5 million contract with the Miami Heat following a contract buyout with the Dallas Mavericks. The agreement includes a player option for the second year. Thompson finalized the buyout on August 22, 2026, receiving $7.7 million over a staggered payment schedule while forfeiting approximately $9.8 million from his original $17.5 million salary for the 2026-27 season. After clearing waivers, he chose Miami to join a newly constructed roster featuring Giannis Antetokounmpo and Bam Adebayo. Last season with Dallas, Thompson appeared in 69 games, averaging 11.7 points while shooting 38.3 percent from three-point range and setting a franchise reserve record with 202 made three-pointers. A four-time NBA champion with the Golden State Warriors, Thompson enters the upcoming season with 2,899 career three-pointers, placing him fourth all-time and trailing Ray Allen by 74 makes for second place.
Veteran guard Klay Thompson has signed a two-year, $11.5 million contract with the Miami Heat following a contract buyout with the Dallas Mavericks. The agreement includes a player option for the second year. Thompson finalized the buyout on August 22, 2026, receiving $7.7 million over a staggered payment schedule while forfeiting approximately $9.8 million from his original $17.5 million salary for the 2026-27 season. After clearing waivers, he chose Miami to join a newly constructed roster featuring Giannis Antetokounmpo and Bam Adebayo. Last season with Dallas, Thompson appeared in 69 games, averaging 11.7 points while shooting 38.3 percent from three-point range and setting a franchise reserve record with 202 made three-pointers. A four-time NBA champion with the Golden State Warriors, Thompson enters the upcoming season with 2,899 career three-pointers, placing him fourth all-time and trailing Ray Allen by 74 makes for second place.
More context
Timeline
- On July 6, 2024, Klay Thompson joined the Dallas Mavericks via sign and trade.
- On June 23, 2026, Miami Heat acquired Giannis Antetokounmpo from Milwaukee Bucks.
- On August 22, 2026, Dallas Mavericks officially announced Klay Thompson buyout agreement.
- On August 24, 2026, Klay Thompson signed with Miami Heat officially.
- On September 1, 2026, Klay Thompson prepares for upcoming NBA season opener.
- On October 24, 2026, Klay Thompson will debut for Miami Heat games.
- On December 15, 2026, Klay Thompson becomes eligible for trade under rules.
- On April 11, 2027, Regular season concludes for Klay Thompson in Miami.
- On June 20, 2027, Klay Thompson could win fifth championship ring.
- On June 30, 2027, Klay Thompson evaluates player option for next season.
Why it matters
Immediate US impact: Miami Heat championship odds improve significantly following veteran shooter acquisition. Possible long-term US impact: Eastern Conference power balance shifts toward Miami with elite roster construction. Most affected groups: Miami Heat fans, basketball analysts, and opposing Eastern Conference teams. Reader priority: Monitor official team announcements and verified sports journalism reporting networks.
Coverage notes
Left: Veteran embraces fresh opportunity pursuing championship glory in South Florida. Center: Team acquires veteran shooter to complement star player roster additions. Right: Financial buyout reflects market adjustments for aging NBA superstar players.
Primary report
Miami Heat announced Klay Thompson signing on August 24 2026.
Sources
- Miami New Times
- ESPN
- The Athletic
- Yahoo Sports
- Bleacher Report
- CBS Sports
- NBC Sports
- Fox Sports
- The Associated Press
- Reuters
- Sports Illustrated
- USA Today
- The Miami Herald
- The Dallas Morning News
- San Francisco Chronicle
- HoopsHype
- RealGM
- SB Nation
- The Ringer
- Yahoo Sports NBA
- Athlon Sports
- ProBasketballTalk
- ClutchPoints
- Fadeaway World
- Yardbarker
- Basketball Reference Blog
- Washington Post
- Los Angeles Times
- Daily Mail
- New York Post
- nba.com
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