Mavericks buy out Klay Thompson’s contract, NBA champion set to join Giannis Antetokounmpo in Miami: report

The next chapter of likely future Naismith Basketball Hall of Famer Klay Thompson’s career appears set to unfold in Miami, where he is expected to suit up for the Heat during the 2026-27 NBA season.

The five-time NBA All-Star will reportedly sign with the Heat after clearing waivers following a contract buyout with the Dallas Mavericks, according to ESPN. Thompson, a four-time NBA champion, could ink a two-year contract worth nearly $13 million, sources told ESPN on Friday.

The 36-year-old was scheduled to make $17.5 million in the final season of his contract with Dallas before the two sides agreed to part ways. The Mavs confirmed the roster move Friday.

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After a 13-season run with the Golden State Warriors, Thompson joined the Mavericks following the 2023-24 season via a sign-and-trade deal. He spent the next two seasons in Dallas, averaging 12.9 points across 141 regular-season appearances.

Thompson has long been regarded as one of the NBA’s premier 3-point shooters.

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His expected arrival in South Florida would give Miami another proven perimeter threat as the Heat continue building around Giannis Antetokounmpo and Bam Adebayo. Antetokounmpo, the 2019 and 2020 NBA MVP, was sent to the Heat as part of a blockbuster trade in June.

Mavericks president of basketball operations Masai Ujiri praised Thompson’s impact during his time with the Mavericks. “Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization,” Ujiri said in a statement.

“We have tremendous respect for Klay and all that he has accomplished throughout his career, and we wish him nothing but the best moving forward,” Ujiri added.

Thompson was sidelined for back-to-back seasons earlier in his career while recovering from an Achilles injury.

The Mavs struggled to a 26-56 record in 2025-26. Jason Kidd exited after five seasons, with the franchise describing the move as a mutual decision. The Mavericks hired Dusty May in June after he guided Michigan to the NCAA Division I men’s national championship in April.