Klay Thompson and the Dallas Mavericks have agreed to a contract buyout. Thompson will become a free agent once he clears waivers and will sign with the Miami Heat on a two-year, $13 million deal.

Thompson joined the Mavericks during the 2024 offseason on a three-year, $50 million sign-and-trade with the Golden State Warriors. With the Mavericks' trade of Luka Doncic to the Los Angeles Lakers to 2025 and subsequent injuries to Kyrie Irving and Anthony Davis, the team quickly went from a Finals contender to a rebuilding one around Thompson.

Thompson was on a $17.46 million contract for the 2026-27 season.