Klay Thompson’s team move is now official. According to NBA official records, the Dallas Mavericks waived Thompson on August 21, 2026, and Thompson reached a buyout agreement with the team that same day. After clearing waivers on August 23, he completed the process required to sign with a new team.
Parting Ways with Dallas Through a Buyout, Not a Trade
This move came through a buyout rather than a trade. NBA’s official transactions list Dallas as having waived guard Klay Thompson, while NBA.com and the Associated Press reported both the buyout and his subsequent clearance of waivers.
The key point is that Thompson was not traded directly from Dallas to Miami; he joined the Heat after going through a buyout and clearing waivers.
Miami Contract Terms: Two Years, Approximately $11.5 Million
Thompson signed a two-year contract worth approximately $11.5 million with the Miami Heat. The second season includes a player option. NBA’s official player information also lists the Miami Heat as his current team.
| Category | Confirmed details |
|---|---|
| Previous team | Dallas Mavericks |
| New team | Miami Heat |
| Contract length | Two years |
| Contract value | Approximately $11.5 million |
| Second season | Player option |
The Role the Heat Expect: Adding Shooting
The Miami Heat said they acquired Thompson to add shooting around Giannis Antetokounmpo and Bam Adebayo. Thompson averaged 11.7 points and 2.1 rebounds for Dallas during the 2025–26 season.
NBA.com described Thompson as fourth all-time in made three-pointers in NBA history, with a career three-point percentage of approximately 41%. The confirmed significance of the deal can therefore be summarized as an effort to broaden the team’s perimeter offensive options by adding a veteran shooter.
What to Keep in Mind
This contract does not determine what statistical results Thompson will produce in Miami. The facts currently confirmed are the buyout, his clearance of waivers, the two-year contract with a player option, and the purpose the Heat gave for signing him.