Klay Thompson gave back roughly $9.8 million in his buyout agreement with the Dallas Mavericks and plans to join the Miami Heat once he clears waivers, according to Michael Scotto of HoopsHype.
The financial concession ends Thompson’s two-year stint in Dallas and positions the 36-year-old to join a Miami roster rebuilt around Giannis Antetokounmpo and Bam Adebayo.
Thompson appeared in 69 games for the Mavericks in 2025-26, including eight starts, and averaged 11.7 points in 21.7 minutes. He shot 38.3% from three-point range on 7.6 attempts per game, making 2.9 threes per contest despite shooting 39.3% overall.
The Mavericks finished 26-56, tied for the NBA’s third-worst record, and missed the playoffs. Thompson’s role declined from his first season in Dallas, when he started all 72 of his appearances and averaged 14.0 points while shooting 39.1% from three.
Three-point shooting remains the clearest element Thompson brings to Miami. Across 934 regular-season games and 13 NBA seasons, he has averaged 18.6 points and shot 40.9% from beyond the arc, while making 3.1 threes per game.
His move also comes after Miami reshaped its roster during the offseason around Antetokounmpo, who arrived from the Milwaukee Bucks in July. The Heat also retained Andrew Wiggins and added Tim Hardaway Jr., giving Erik Spoelstra multiple perimeter options around Antetokounmpo and Adebayo.
Miami went 43-39 in 2025-26 and entered the postseason through the Play-In Tournament before missing the playoffs after a first-round defeat. The Heat’s roster subsequently changed significantly, with Norman Powell leaving in free agency and Tyler Herro, Kel’el Ware, Jaime Jaquez Jr. and Kasparas Jakucionis departing in the Antetokounmpo trade.
Thompson’s willingness to surrender roughly $9.8 million in the buyout agreement is therefore a significant part of the transaction. Once he clears waivers and formally joins Miami, the Heat will add one of the NBA’s most accomplished high-volume three-point shooters to a team seeking more spacing around its new frontcourt centerpiece.
Thompson has made 2,916 regular-season three-pointers in his career and remains one of only a small group of active players with both elite career volume and a 40%-plus shooting percentage from deep. His 38.3% mark last season suggests that, despite his reduced role in Dallas, his perimeter shooting remains a potentially valuable fit next to Antetokounmpo’s interior pressure.
