On August 21, four-time NBA champion Klay Thompson agreed to sign with the Heat after reaching a contract buyout with the Dallas Mavericks.
Thompson becomes the final key piece in the Heat’s contending team build for the upcoming season.
Klay Thompson’s Contract Buyout with Dallas Mavs
The Mavericks’ numerous offseason moves put the team into a corner. Before Thompson was bought out, Dallas had 16 players under standard contracts, one over the NBA’s roster limit.
Combined with the sharpshooter’s desire to play for a contender, Thompson and the Mavs reached a win-win agreement. Dallas bought out the remainder of his $17.5 million contract for the 2026-2027 season. Thompson agreed to give back $9.8 million to the Dallas Mavericks, a standard practice in buyout agreements.
What Is Thompson’s New Deal with Miami?
After clearing waivers, Klay Thompson signed with the Miami Heat on a two-year, $11.5 million contract.
Thompson will be paid $5.6 million in the first year of his deal, per Spotrac. Thompson will then have a player option for the 2027-28 season worth just under $5.9 million.
There’s more good news for Heat fans besides Thompson heading to South Beach. His new deal allows Miami to fill out the rest of its roster and avoid being hard-capped at the first apron.
Heat President Pat Riley is certainly a big fan of the addition: “Klay is one of the most iconic players to ever suit up in the NBA…a four-time battle-tested World Champion who will fit perfectly into his role as an all-around player at both ends of the court,” Riley said.
Thompson introduced himself to Miami at his welcome presser on Tuesday, August 25 at 3:00 p.m. The full live stream can be found on the Miami Heat’s official YouTube account.
In the press conference he expressed his excitement about playing for the Heat. “It’s almost limitless what we could do, and I can’t wait to get the whole squad together to see what works well and define our roles,” said Thompson. “It’s really, really exciting and coming into this building gave me a whole new jolt of energy to be myself again.”
Thompson Fills Plenty of Holes for Miami Heat
In Miami, Klay Thompson brings a much-needed skill set. The five-time All-Star brings elite shooting and improved floor spacing, complementing Bam Adebayo and Giannis Antetokounmpo on the court. Thompson adds to the many additions made through trades and free agency this offseason.
Although Thompson is coming off of the worst season of his career, signing with the Heat surrounds him with a stronger team and culture than he had in Dallas. Last year, he averaged 11.7 points and shot 38.3% from beyond the arc. With Bam and Giannis handling the paint, Thompson gets to control the three-point narrative with his consistently-efficient shooting.
The former Splash Bro also bring a long history of successful playoff experience. Known as ‘Game 6 Klay,’ he’s won four championships with the Golden State Warriors. He also recently passed Damian Lillard for fourth on the all-time three-point makes list in January.
Additionally, Thompson reunites with former Warriors teammate Andrew Wiggins. The two played four seasons together and hoisted the NBA championship trophy for the Golden State Warriors in 2022. Wiggins recently signed a two-year extension with the Heat, meaning their reunion will extend beyond just this season.
Miami Heat Putting Finishing Touches on Roster
The Miami Heat need one more standard contract to meet the 14-contract minimum to finalize their roster. Fortunately for the Heat, Thompson’s contract leaves enough room to sign two more players on a veteran minimum and stay under the hard cap.
There is mutual interest with the Heat and 28-year-old Nick Richards, with Miami preferring a big man. The 6-foot-11 center finished last season with the Chicago Bulls after getting traded from the Phoenix Suns. He averaged 5.8 points and 5.1 rebounds per game in 48 games between both teams last season.
Other players rumored for a minimum, like Gabe Vincent and Keshad Johnson, could result in another Miami Heat reunion. Johnson spent the last two seasons in South Beach as a two-way guard and ultimately earned a standard deal. The electric, young forward represented the Heat in this year’s All-Star Dunk Contest and didn’t disappoint, bringing home the trophy.
Vincent spent four seasons with Miami and played a crucial part in numerous playoff appearances for the franchise. Vincent went undrafted in 2018 before signing a two-way contract with the Heat in 2020. He quickly became one of the Heat’s many undrafted development success stories, especially during Miami’s run to the NBA Finals in 2023. However, since leaving the Heat, he struggled on the floor for the Lakers and the Hawks.
Whoever the franchise chooses to finalize their roster, it’s abundantly clear that Miami isn’t looking to settle for just a playoff run. It’s looking to bring the Larry O’Brien trophy home once again.
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