The Dallas Mavericks and Klay Thompson have reached an agreement on a contract buyout, concluding a two-year period marked by the unexpected trade of Luka Doncic.
Thompson is set to join the Miami Heat after clearing waivers, as per a source familiar with the plans of the five-time All-Star. The source, speaking on condition of anonymity to The Associated Press on Friday, mentioned that Thompson could officially sign with the Heat as early as Sunday if no other team claims him.
The decision for the buyout comes after the Mavericks failed to make the playoffs during Thompson’s tenure, following a successful NBA Finals run led by Doncic back in 2024.
Initially acquired through a sign-and-trade with the Golden State Warriors, Thompson was brought in as one of the premier 3-point shooters in NBA history to complement Doncic and fellow guard Kyrie Irving. However, the trade that sent Doncic to the Los Angeles Lakers for Anthony Davis in 2025 and subsequent injuries to Irving and Davis derailed the Mavericks’ plans.
Despite the setbacks, the Mavericks managed to secure the top pick in the draft lottery, selecting standout rookie Cooper Flagg from Duke, who later won the Rookie of the Year award.
With Flagg’s addition to the team, Thompson found himself coming off the bench in most games for the first time since his rookie season with the Warriors.
Thompson’s buyout is part of a larger overhaul of the Mavericks roster, leaving only five players from the team’s lineup two years ago. The team also underwent changes in its front office, with Masai Ujiri taking over as president of basketball operations, Mike Schmitz as general manager, and Dusty May replacing Jason Kidd as head coach.
Thompson, a four-time NBA champion with the Warriors, spent the first 13 seasons of his career with Golden State, overcoming injuries to make significant contributions to the team’s success.
Known for his sharpshooting, Thompson averaged 12.9 points and a 39% 3-point shooting percentage during his time with the Mavericks. Throughout his career, he has maintained averages of 19.6 points per game and a 41% shooting accuracy from beyond the arc.
Thompson’s achievements include climbing to fourth place on the all-time career 3-pointers list in January, currently trailing only Stephen Curry, James Harden, and Ray Allen in this category.
Having missed the playoffs only twice during his tenure with the Warriors, Thompson encountered playoff absences in both seasons with Dallas, reflecting the team’s struggles during that period.
Ujiri expressed gratitude for Thompson’s contributions to the Mavericks, acknowledging his status as a top player and competitor in the league.
In other NBA news, DeMar DeRozan has reportedly agreed to a one-year deal with the Denver Nuggets, adding a veteran presence to the team’s backcourt. DeRozan, a six-time All-Star, will be joining his fifth team in his 18th season in pursuit of his first championship.