The Dallas Mavericks and Klay Thompson have reached an agreement for a contract buyout, marking the end of a two-year period overshadowed by the surprising trade involving Luka Doncic. Thompson is set to join the Miami Heat after clearing waivers, as per a source familiar with the plans of the five-time All-Star. The buyout decision follows the Mavericks’ failure to make the playoffs during Thompson’s tenure, which followed Doncic leading the team to the NBA Finals in 2024.
Thompson came to Dallas through a sign-and-trade with the Golden State Warriors, providing the Mavericks with a renowned 3-point shooter to complement Doncic and another scoring threat in Kyrie Irving. However, this promising trio’s potential was disrupted after Doncic was traded to the Los Angeles Lakers for Anthony Davis in 2025, and Irving suffered a career-threatening injury. Davis was later traded to the Washington Wizards before the trade deadline last season.
Following the Doncic trade, the Mavericks faced setbacks but managed to secure the top pick in the draft, selecting standout rookie Cooper Flagg from Duke. Flagg’s arrival led to Thompson predominantly coming off the bench for the first time since his rookie season with Golden State.
Thompson’s buyout is part of a significant roster overhaul for Dallas, with only five players remaining from two years ago, alongside new leadership in president of basketball operations Masai Ujiri, general manager Mike Schmitz, and head coach Dusty May, who replaced Jason Kidd.
Thompson, a four-time NBA champion with the Warriors, spent 13 seasons with Golden State before his two-year stint with the Mavericks. Known for his sharpshooting, the five-time All-Star averaged 12.9 points and a 39% 3-point shooting percentage during his time in Dallas, with a career average of 19.6 points and 41% from beyond the arc. He currently ranks fourth in career 3-pointers made, trailing Curry, Harden, and Allen.
Acknowledging Thompson’s contributions, Ujiri expressed gratitude for his impact on the Mavericks organization, emphasizing his accomplishments and competitive spirit throughout his career.