Cap sheet reset: Mavericks buy out Thompson as Heat wait on waivers

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. ESPN and the Associated Press reported that once he clears waivers, Miami is the destination he intends.

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.

The buyout is agreed. The waiver process is pending. A Heat signing is expected after that process — 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.

The player asked out of a rebuild timeline, and a contender with a new superstar core lined up a deal smaller than the $17.5 million Dallas still owed.

The Dallas Morning News added the roster-math detail: the buyout puts the Mavericks at 15 standard contracts heading into September training camp, 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 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.

He sits at 2,899 career three-pointers, fourth all-time behind Stephen Curry (4,248), James Harden (3,390), and Ray Allen (2,973), after passing Damian Lillard last season, according to ESPN, the AP, and the Morning News.

Ujiri's statement and the Dallas close

Mavericks president of basketball operations Masai Ujiri said in a statement carried by the AP, ESPN, and the Dallas Morning News: "Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization." The Morning News and ESPN also included the follow-on line wishing him nothing but the best.

General manager Mike Schmitz, appearing on Sportsradio 96.7 FM/1310 The Ticket after the announcement, told the Dallas Morning News he was "thankful" for what Thompson brought and declined to get into the "nitty-gritty" of whether Dallas wanted him to pick his next team.

The AP placed the buyout in franchise context: Thompson's Dallas years followed the Luka Doncic trade, Irving's ACL injury, the Anthony Davis flip, and Cooper Flagg's Rookie of the Year season, with Thompson coming off the bench for most of last season. His first 13 NBA seasons were with Golden State, where he won four titles and made five All-Star teams.

A $17.5 million final season is off the active books via buyout. The roster sits at the 15-contract ceiling for camp. The age profile skews younger. Any Heat signing still depends on waivers.

Sources

The Associated Press

ESPN

The Dallas Morning News

usatoday.com