Klay Thompson expected to join Miami Heat after buyout

Klay Thompson was expected to sign with the Miami Heat after clearing waivers following his contract buyout from the Dallas Mavericks, sources informed ESPN's Shams Charania on Friday.

Thompson, 36, was due to make $17.5 million in the final season of his contract with the Mavericks, who announced his buyout on Friday afternoon. The buyout process was initiated when Thompson informed the Mavericks, who finished last season with a 26-56 record, that he wanted to play for a contender. The Heat identified Thompson as their top target after executing a major trade for Giannis Antetokounmpo.

In his two seasons with the Mavericks, Thompson averaged 12.9 points per game and shot 38.7% from beyond the arc. He surpassed Damian Lillard the previous season to rank fourth in career 3-pointers made, with a total of 2,899. His addition addresses Miami's need for perimeter shooting as the team aims to build a contender around Antetokounmpo and Bam Adebayo.

"Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization," said Mavericks president of basketball operations Masai Ujiri in a 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."

Thompson spent the first 13 seasons of his career with the Golden State Warriors before joining the Mavericks in a sign-and-trade deal during the summer of 2024. He earned five All-Star selections and won four championships during his tenure with Golden State, which was marred by Achilles and knee injuries that kept him out of action for consecutive seasons. Thompson aims to surpass Hall of Famer Ray Allen's career total of 2,973 3-pointers, needing 75 additional shots to do so, but he has a considerable distance to cover behind James Harden and his former long-time teammate Stephen Curry.