Klay Thompson’s new team has been officially confirmed as the Miami Heat. His departure from the Dallas Mavericks was more than a simple transfer rumor: after a buyout and the waiver process, it led to an actual contract. Looking at the contract terms, his current status, and why Miami added Thompson provides a quick understanding of the move’s key details.
Key Changes
The NBA’s official transactions record shows that the Dallas Mavericks waived guard Klay Thompson on August 21, 2026. Thompson subsequently cleared waivers and signed with the Miami Heat. The confirmed sequence is therefore “Dallas waiver → clearing waivers → joining Miami.”
Thompson’s move to Miami represents an official addition to the team after the buyout and completion of the waiver process.
A buyout is the process by which a player and an existing team resolve a contract. In this case, reports from NBA.com, NBC Sports, and CBS/AP confirmed that Thompson cleared waivers after his buyout with Dallas. The waiver date and the process that led to the completed contract are supported by official records and multiple reports, making them important points of confirmation for the move.
Current Status
The contract with Miami is for two years, and its value was reported to be approximately $11.5 million. Thompson has a player option for the second season. A player option means the player can choose whether to continue for that season, so describing it as a two-year contract does not necessarily mean that both seasons are definitively guaranteed to continue.
Because reports may differ in how they describe the total value, it is safer to treat the deal as being “worth approximately $11.5 million” rather than state a single figure as definitive. The player option should also be considered part of the contract terms.
Thompson’s official NBA player profile lists him as a guard for the Miami Heat wearing No. 31. He also attended the Miami Heat’s introductory press conference on August 25, 2026. Based on the official information currently available, Thompson has joined his new team in a Heat uniform.
Impact
Miami’s rationale for the signing has been described as strengthening its perimeter shooting. A CBS/AP report said Miami added Thompson in the context of improving its shooting around newly acquired Giannis Antetokounmpo and incumbent Bam Adebayo. This means Thompson’s arrival should be understood as part of Miami’s effort to strengthen the roster’s shooting capabilities, rather than being described as the direct result of signing one particular player.
An NBA.com report described Thompson as fourth all time in made three-pointers in the NBA. That long-range shooting history is the key record to note in this signing. However, the officially confirmed information does not establish his starting status, playing time, role within the team, or season statistics. How Miami ultimately uses him will need to be confirmed through future official roster announcements and game-related team information.
What to Check Next
There are three key points for readers to monitor going forward.
- Check whether Thompson’s team affiliation and jersey number continue to be listed on the official Miami Heat and NBA player pages.
- Watch for any additional official publication of the contract terms, including the player option for the second season.
- Check how Thompson’s specific role is described in official team announcements and game-related information.
The facts confirmed so far are Dallas’s August 21 waiver, Thompson’s clearance of waivers after the buyout, his two-year contract with Miami, the player option for the second season, and his registration as a Heat guard wearing No. 31. How Miami will use Thompson in actual games can only be assessed in more detail once separate official announcements and subsequent team information become available.