Klay Thompson’s move to the Miami Heat has been reflected in official records. After agreeing to a contract buyout with the Dallas Mavericks, Thompson cleared waivers and finalized his deal with Miami. Unlike earlier reports that described the move simply as a team change, the key point now confirmed is that the contract was finalized after the buyout and waiver procedures.
Key Changes
Thompson left the Dallas Mavericks and moved to the Miami Heat. The NBA’s official offseason transaction tracker records Thompson’s move to Miami as an officially announced free-agent signing, while the NBA’s official team information lists him as a Miami player who signed on August 23, 2026.
The move proceeded from a buyout agreement and waiver clearance to a contract with Miami.
A buyout is the process of ending the contractual relationship between a player and an existing team. In this case, the buyout agreement with Dallas was confirmed first. Thompson then cleared waivers and completed his contract with Miami. Accordingly, he did not move directly from Dallas to Miami; his new team was confirmed after two separate procedural steps.
Current Status
The contract with the Miami Heat was reported to be worth approximately $11.5 million over two years. Because the amount is described as “approximately” in the official reporting, it should not be treated as confirmation of the precise annual salary distribution or detailed financial terms.
The second season of the contract was reported to be a player option for Thompson. This means the player has the choice of whether to continue into the second season. However, the confirmed information does not include the specific salary allocation for each season or the amount resolved through the buyout.
| Item | Confirmed Details |
|---|---|
| Previous team | Dallas Mavericks |
| Transfer process | Buyout agreement followed by waiver clearance |
| New team | Miami Heat |
| Contract length | Two years |
| Contract value | Approximately $11.5 million |
| Second season | Thompson’s player option |
Impact
With this deal, Thompson’s official team changed from the Dallas Mavericks to the Miami Heat. The NBA’s official offseason transaction records reflect the change in both Dallas’s departures and Miami’s acquisitions. In addition to the team change itself, the sequence of buyout, waiver clearance, and free-agent signing clarifies the outline of the contract process.
The most notable contract term is the player option for the second season. A two-year contract alone is not enough to characterize the deal as long-term, and the player option must also be considered because it gives Thompson control over the second season. By contrast, interpretations that the deal guarantees the team’s performance or championship prospects, as well as judgments about the detailed salary distribution and tax effects, cannot be confirmed based solely on the available information.
Next Verification Point
For future checks of the contract status, the NBA’s official team information and offseason transaction tracker should be reviewed together. The current official team information lists Thompson as a Miami Heat player, and the offseason transaction records also reflect him as a Miami acquisition.
The total contract value was reported as approximately $11.5 million, and the second season was reported to be a player option. If detailed contract documents or official team or league information are updated later, additional terms such as the annual allocation may change and should be checked against the latest official records. The current conclusion is clear: Thompson agreed to a buyout with Dallas, cleared waivers, and then signed a two-year contract with Miami.