Klay Thompson is still a Dallas Maverick, and the Miami Heat is still waiting for him to shake free. The wait could be a while.
After LeBron James signed with the rival Philadelphia 76ers, the Heat turned its attention to a new direction. The team looked deeply into the free agent market and tabbed DeMar DeRozan and Bradley Beal as potential targets. More recently, Miami shifted its focus to Thompson and the Mavs, hoping both sides come to an agreement on a contract buyout.
With Thompson, the 36-year-old sharpshooter who joined the Mavs as a free agent in 2024, entering the final season of a three-year deal, there is growing speculation that Thompson could seek a buyout and seek a contract with a team that could better utilize him at this stage of his career. The Heat appear prepared to give Thompson what he would want, but the path to landing the four-time NBA champion is tricky.
Miami Heat Wants Klay Thompson, But it May be Waiting a While
GettySACRAMENTO, CALIFORNIA – JANUARY 06: Klay Thompson #31 of the Dallas Mavericks stands on the court during their game against the Sacramento Kings at Golden 1 Center on January 06, 2026 in Sacramento, California. (Photo by Ezra Shaw/Getty Images)
According to Mike Curtis of the Dallas Morning News, the Mavs remain uninterested in buying out the final year of Thompson’s contract. It appears Thompson will remain in Dallas until the midseason trade deadline gets closer.
“It makes sense why (president Masai) Ujiri and Mavericks general manager Mike Schmitz wouldn’t want to orchestrate a buyout with Thompson since he has just one year on his three-year contract worth $17.5 million left,” Curtis wrote. “He provides consistent 3-point shooting and would likely be more valuable as a trade asset, especially at next year’s deadline.”
The Mavs may not want to let Thompson, who averaged roughly 12 points per game and shot 38 percent from the 3-point line last season, walk out the door for nothing, but they are open to a trade, according to The Athletic.
“At this point, it remains unclear if Klay Thompson — the Mavericks’ leading 3-point shooter in each of the past two seasons — will be back in Dallas for a third year,” the report said. “The Mavericks have explored his trade market but have yet to find a deal, multiple sources with rival teams told The Athletic on the condition of anonymity because they were not authorized to discuss any potential negotiations. Thompson is owed $17.5 million this season and is set to become an unrestricted free agent in the summer of 2027.”
The Heat, the team frequently mentioned as the top suitor for Thompson if he hits free agency, don’t prefer acquiring Thompson via trade. The Mavs, meanwhile, are hoping that trading Thompson yields some sort of draft capital.
“Miami has three future first-round picks (2028, 2029 and 2032) and their own 2027 second-round pick,” Curtis wrote. “I’d be surprised if the Heat parted ways with any of their picks in a trade for Thompson, especially since he’s on an expiring contract and could choose to leave as a free agent next summer. Never say never, but the right deal could net the Mavericks a pick, which would be much-needed since they have a depleted cabinet of future draft assets.”
The Clock Ticks for Miami
The Heat has to make a couple of additions to the roster to fill out the open spots. Thompson, a five-time All-Star, is the top priority because of his 3-point shooting ability, which would fit well alongside the newly-acquired Giannis Antetokounmpo.
With it appearing more and more likely that Thompson starts the upcoming season in Dallas, the Heat better have a backup plan prepared.
Beal and DeRozan remain unsigned. Both former All-Stars are expected to sign with a team angling for a title push next season.
Miami Heat Get Major Klay Thompson Free Agency Update After New Report