Mavericks reach buyout with Klay Thompson; player expected to sign with Miami Heat

Dallas and veteran guard Klay Thompson have reached a contract buyout, concluding his two-year tenure with the Mavericks. The five-time All-Star is expected to sign with the Miami Heat once he clears waivers, a move that could be finalized as early as Sunday if no other team claims him.

Thompson, who was acquired by Dallas in a sign-and-trade with Golden State, saw the Mavericks miss the playoffs in both of his seasons after the franchise traded Luka Dončić to the Los Angeles Lakers in 2025. The trade was followed by injuries to Kyrie Irving and the subsequent departure of Anthony Davis, leaving the team to rebuild around the No. 1 draft pick, rookie forward Cooper Flagg, who later earned Rookie of the Year honors.

During his two years in Dallas, Thompson averaged 12.9 points and shot 39 percent from three-point range, primarily coming off the bench after Flagg’s arrival. His career averages stand at 19.6 points and 41 percent from beyond the arc, and he recently moved into fourth place on the NBA’s all-time three-point list.

"Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization," Mavericks president of basketball operations Masai Ujiri said. "We have tremendous respect for Klay and all that he has accomplished throughout his career."

The buyout marks another step in a broader roster overhaul that has left only five players from the squad that opened the season two years ago, alongside a new front office and coaching staff.