Five-time NBA All-Star and four-time champion Klay Thompson is expected to sign with the Miami Heat after clearing waivers, following a contract buyout with the Dallas Mavericks, according to multiple reports. The 36-year-old sharpshooter enters the late summer free agent market for a Miami roster featuring Giannis Antetokounmpo and Bam Adebayo.
The Buyout Agreement in Dallas
Thompson signed with Dallas in 2024, appearing in 141 games and averaging 12.9 points on 40.3/38.7/85.1 shooting splits. This past season, he averaged 11.7 points and 2.1 rebounds per contest.
With Dallas pivoting toward a youth movement led by reigning Rookie of the Year Cooper Flagg, the organization opted to reach a buyout before training camp to allow Thompson to sign with a contender. Mavericks president of basketball operations Masai Ujiri addressed the move in an official statement released by the team.
“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 the 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.”
Fit and Roster Impact in South Beach
Thompson moves to South Beach with clear intent. ESPN reported that Thompson plans to sign with the Miami Heat once he clears waivers, with multiple reports corroborating his preferred destination within minutes of the buyout announcement. Chris Haynes and Shams Charania both reported the impending transaction on social media.
Klay Thompson intends to sign with the Miami Heat upon clearing waivers, sources tell me. Giannis Antetokounmpo gets another marksmen.
— Chris Haynes (@ChrisBHaynes) August 21, 2026
Miami needed perimeter shooting after trading Tyler Herro to Milwaukee and letting Norman Powell depart in free agency to acquire Antetokounmpo. Thompson ranks fourth all-time in career three-pointers made. While his defensive impact has declined since recovering from major ACL and Achilles injuries, he has still shot 39.3% from beyond the arc on 8.8 attempts per game across his five post-injury seasons.
Eastern Conference Landscape and Rotation Outlook
The Heat faced hard cap restrictions while constructing a roster around Antetokounmpo and Adebayo. After an unsuccessful pursuit of LeBron James—who ultimately signed with the Philadelphia 76ers—Miami pivoted to secure veteran reinforcements.
Coach Erik Spoelstra will integrate Thompson into a wing rotation that includes Andrew Wiggins, Nikola Jovic, Tim Hardaway Jr., and Dru Smith. The addition gives the Heat an established perimeter threat as they attempt to climb back into the upper tier of the Eastern Conference.
Next Steps
Thompson will formally complete his move to the Miami Heat once he clears waivers.
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