Mavericks reach buyout with Klay Thompson, player expected to join Miami Heat

Dallas announced on Friday that it has reached a buyout agreement with veteran guard Klay Thompson, turning the 36-year-old into an unrestricted free agent. The Mavericks said the decision was made with mutual respect for Thompson, who was entering the final year of a three-year, $50 million contract and was owed $17 million for the 2026-27 season.

According to league sources, Thompson is expected to clear waivers and then sign a two-year deal with the Miami Heat worth nearly $13 million, with a player option for the second year. The move follows a season in which Thompson’s production declined, averaging 11.7 points and shooting 38.3% from three-point range after previously starting all 72 games he played for Dallas.

Thompson, a former Golden State Warriors sharpshooter, posted 17.9 points per game during a walk-year with the Warriors before his scoring averages fell each season with the Mavericks. The buyout concludes his three-year stint with Dallas, which began after a sign-and-trade deal in 2024.