Klay Thompson’s change of teams was completed within two days. According to the NBA’s official transaction records, the Dallas Mavericks waived Thompson on August 21, 2026, and the Miami Heat signed him on August 23.
The NBA reported that Thompson cleared waivers after reaching a buyout with Dallas. The key sequence of the move can therefore be summarized as “departure from Dallas → waivers → signing with Miami.”
It took two days from Dallas waiving Thompson to his signing with Miami.
Contract Size and Terms
Thompson’s contract with Miami was reported as a two-year deal worth approximately $11.5 million. The second season is reportedly a player option. NBA and NBC Sports reports cited similar figures for the total value, but because some early reports mentioned different amounts, it is appropriate to describe the deal here as worth approximately $11.5 million.
The amount Thompson gave up in the buyout varies by source, making it difficult to state an exact figure. What has been confirmed is that he reached a buyout with Dallas and then cleared waivers.
What It Means in Miami
The NBA’s official report described Thompson as the fourth-ranked player in NBA history in made three-pointers. It also noted that he is a five-time All-Star and a four-time NBA champion.
In Miami, he will play alongside Giannis Antetokounmpo, Bam Adebayo, and Andrew Wiggins. However, this signing alone does not provide enough basis to predict the team’s results or Thompson’s playing time, or to make a definitive judgment about its championship chances.
Confirmed Timeline
| Date | Confirmed detail |
|---|---|
| August 21, 2026 | The Dallas Mavericks waived Klay Thompson |
| August 23, 2026 | The Miami Heat signed Klay Thompson |
| August 24, 2026 | The NBA reported the signing and its terms |
This article was prepared based on the NBA’s official transaction records and reports from the NBA, the Associated Press, and NBC Sports. The sources were checked at 03:45 UTC on August 31, 2026.
Sources: [NBA Player Transactions](https://www.nba.com/players/transactions?TeamID=0), [NBA·Associated Press report](https://www.nba.com/news/klay-thompson-heat-2026-free-agency), [NBC Sports report](https://www.nbcsports.com/nba/news/klay-thompson-clears-waivers-reportedly-agrees-to-two-year-11-5-million-contract-with-miami-heat)