The Dallas Mavericks and guard Klay Thompson agreed Friday to a contract buyout, ending a two-year Dallas tenure that never produced a playoff series and clearing the last year of a deal that still owed him $17.5 million for 2026-27.
The team announced the move Friday afternoon, according to the Associated Press, ESPN, and the Dallas Morning News. Thompson has not cleared waivers and has not signed elsewhere. What the preferred wires do say is the destination he intends once that process finishes: Miami.
The money and the waiver clock
ESPN reported that Thompson was due $17.5 million in the final season of his three-year contract. USA TODAY Sports and the Dallas Morning News matched that figure. ESPN's Shams Charania, citing sources, wrote that Thompson plans to sign a two-year, nearly $13 million deal with the Miami Heat after clearing waivers, with a player option on the second year.
The Associated Press, citing a person familiar with Thompson's plans who spoke on condition of anonymity because he has not said so publicly, reported that he intends to sign with the Heat once he clears waivers and that, if unclaimed, he may be able to sign as early as Sunday.
Until then, the accurate status is buyout agreed, waiver process pending, Heat signing expected — not completed.
Why Dallas opened the door
ESPN reported that the buyout was initiated after Thompson told the Mavericks — a 26-56 team last season — that he wanted to play for a contender. The same ESPN account said the Heat made Thompson a top target after trading for Giannis Antetokounmpo.
That framing matters for readers tracking roster construction: Dallas is not cutting a declining asset in a vacuum; the player asked out of a rebuild timeline, and a contender with a new superstar core lined up a deal structure that is smaller than the $17.5 million Dallas still owed.
The Dallas Morning News added the local roster-math detail: the buyout puts the Mavericks at 15 standard contracts heading into September training camp, which is the league maximum teams may carry into the regular season. After Thompson's departure, the Morning News wrote, Kyrie Irving (34) and Caleb Martin (31) are the only remaining Mavericks who are 30 or older.
What two Dallas seasons actually produced
Across two seasons in Dallas, Thompson appeared in 141 games with 80 starts and averaged 12.9 points on 40.3% shooting from the field and 38.7% from three, the Dallas Morning News reported. The Associated Press put the same two-year scoring average at 12.9 points and about 39% from three, against career marks of 19.6 points per game and 41% from beyond the arc.
