Klay Thompson Buyout Gives Dallas Mavericks Substantial Salary Savings

DALLAS — Roughly $9.8 million came off Klay Thompson‘s final salary with the Dallas Mavericks in the buyout the two sides reached Friday. Michael Scotto of HoopsHype reported the figure Saturday, citing league sources.

Thompson had been owed $17.5 million for 2026-27, the last year of a three-year, $50 million contract. Dallas announced the agreement Friday afternoon without releasing financial terms.

Once he clears waivers, Thompson is expected to sign a two-year deal with the Miami Heat worth nearly $13 million, ESPN’s Shams Charania reported Friday. The second year carries a player option.

Waivers take 48 hours to run. Any team could claim Thompson at the full $17.5 million, though the South Florida Sun Sentinel reported such a claim is neither expected nor likely possible. Sunday is his first day eligible to sign.

Dallas Looked For A Trade First

Dallas spent the offseason looking for a trade. A sufficient market never developed, sources told Dallas Sports Journal. A trade would also have carried Thompson’s Bird rights to his new team.

Mavericks general manager Mike Schmitz went on 1310 The Ticket on Friday and declined to walk through the internal conversations that preceded the agreement.

“I don’t want to get into too much of the nitty-gritty with internal conversations and all that,” Schmitz said. “More than anything, just like I said, thankful for everything Klay has given to the team, the organization, the city, and wish him the best moving forward in the rest of the season.”

Mavericks president of basketball operations Masai Ujiri released a separate statement Friday thanking Thompson for his two seasons in Dallas.

What The Miami Heat Have Left To Spend

The June trade for Giannis Antetokounmpo left Miami hard capped at the first apron this season. The Heat spent $6.5 million of the midlevel exception on Tim Hardaway Jr. in July. Roughly $8.9 million of it remains. Twelve players were on standard contracts in Miami before Friday, and Thompson would be the 13th.

Bam Adebayo made 206 3-pointers over the past two seasons. Golden State hosts Miami on Nov. 5 at Chase Center.

Klay Thompson’s Two Seasons With The Dallas Mavericks

Thompson appeared in 141 games as a Maverick and started 80 of them. He averaged 12.9 points, shooting 40.3% from the field and 38.7% from 3-point range. He came off the bench in 61 of his 69 appearances last season and averaged 21.7 minutes.

Golden State drafted Thompson 11th overall in 2011. He has averaged 18.7 points, 3.5 rebounds, and 2.3 assists in 911 regular-season games. He is a four-time NBA champion and a five-time All-Star.

Dallas went 26-56 last season. The Mavericks missed the playoffs in each of Thompson’s two years with the team.

Mavericks training camp opens Sept. 22. Dallas is one of six teams starting early because of preseason games outside North America. The regular season begins Oct. 21 at Houston, with tip-off at 7:30 p.m. CT.