MIAMI — Klay Thompson’s short-lived Dallas Mavericks chapter is over, and the four-time NBA champion appears headed straight into another championship chase.
The Dallas Mavericks have reached a contract buyout agreement with Thompson, officially ending the veteran sharpshooter’s two-season stint in Dallas. Multiple reports say the 36-year-old is expected to sign with the Miami Heat once he clears waivers, potentially adding one of the greatest shooters in NBA history to a roster already headlined by Giannis Antetokounmpo and Bam Adebayo.
ESPN’s Shams Charania reported that Thompson plans to sign a two-year contract worth nearly $13 million, with a player option for the second season, after completing the waiver process. CBS Sports also reported the same expected agreement.
The move could prove especially important for Miami because Thompson provides exactly what the Heat’s revamped frontcourt needs: elite floor spacing and a proven three-point threat.
Mavericks and Thompson officially part ways
Dallas confirmed the separation on Friday, August 21, U.S. time, with Mavericks president of basketball operations Masai Ujiri praising Thompson’s career and his contributions to the franchise.
Thompson originally joined Dallas in July 2024 following his decorated run with the Golden State Warriors. His Mavericks tenure ultimately lasted 141 regular-season games, during which he averaged 12.9 points per game while shooting 38.7% from three-point range.
Dallas finished last season with a 26-56 record, far from the contender Thompson initially joined in 2024. His arrival had originally been viewed as another major weapon alongside Luka Doncic, but the Mavericks’ roster and direction changed dramatically afterward.
Now Thompson appears ready to pursue another title — this time in South Florida.
Why Klay Thompson makes sense for Miami
Miami’s interest becomes much easier to understand when looking at how the Heat rebuilt their roster this offseason.
The franchise completed a blockbuster deal for Giannis Antetokounmpo in July, acquiring the two-time NBA MVP from the Milwaukee Bucks along with Bobby Portis. Miami sent a package including Tyler Herro, Jaime Jaquez Jr., Kel’el Ware, Kasparas Jakučionis and significant draft capital to Milwaukee.
That gave the Heat an imposing core built around Antetokounmpo and Adebayo — but it also increased Miami’s need for dependable perimeter shooting.
NBA.com specifically identified shooting as an area Miami needed to strengthen after acquiring Antetokounmpo. Because Antetokounmpo and Adebayo are most dangerous attacking inside the arc, surrounding them with players capable of stretching defenses beyond the three-point line could be crucial.
That is where Thompson could become particularly valuable.
Even late in his career, defenders cannot comfortably abandon a shooter with his résumé.
Thompson owns a 40.9% career three-point percentage and has made 2,899 three-pointers, placing him among the most prolific long-range shooters in NBA history.
His scoring numbers may no longer resemble his peak years with Golden State, but Miami would not necessarily need him to be the primary scorer.
The Heat could simply need him to make defenses pay for collapsing on Giannis.
A championship résumé Miami hopes still has something left
Thompson became one of the defining players of Golden State’s dynasty alongside Stephen Curry and Draymond Green.
He helped the Warriors win four NBA championships and earned five All-Star selections, becoming famous for his quick release, explosive scoring runs and ability to punish defenses without dominating the basketball.
Now, at 36, his role is different.
But Miami may be betting that championship experience, shooting gravity and a reduced offensive burden can still make Thompson an important piece on a team attempting to contend immediately.
The potential combination is intriguing: Antetokounmpo attacking the rim, Adebayo operating as a versatile inside-out big man and Thompson forcing defenders to stay attached beyond the arc.
It could create considerably more space for Miami’s stars.
Dallas closes another chapter
For the Mavericks, Thompson’s departure represents another major change following a turbulent period for the franchise.
He joined Dallas expecting to compete alongside a championship-level core, but two years later, both the roster and the team’s competitive situation look dramatically different.
Ujiri nevertheless struck a respectful tone as Dallas announced Thompson’s exit, calling him one of the outstanding competitors of his generation and wishing him success in the next stage of his career.
For Thompson, that next stage now appears almost certain to begin in Miami.
There is still one technical hurdle: he must clear waivers before his reported Heat contract can become official.
Barring an unexpected development during that process, one of the NBA’s greatest shooters will soon be headed to South Beach — and Miami may have found precisely the type of weapon needed to make its new superstar partnership even more difficult to defend.
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