Klay Thompson’s decision to leave money behind did more than secure his exit from the Dallas Mavericks. The final structure of his new contract also provided the Miami Heat with additional room to finish constructing their roster.
Thompson officially joined Miami after clearing waivers Sunday, signing a two-year contract worth approximately $11.5 million. The second season is a player option.
That total is about $1.5 million below the nearly $13 million initially reported. More importantly for Miami, Thompson’s first-year salary will start at approximately $5.6 million instead of the projected $6.3 million.
The difference may appear small within an NBA payroll. For a team operating only a few million dollars below a hard cap, it is significant.
South Florida Sun Sentinel reporter Ira Winderman reported that Miami can now sign two additional players, reach the 15-player maximum for standard contracts and still remain slightly below its hard-cap threshold.
Thompson Leaves Millions Behind
Thompson’s discounted Heat contract follows an even larger financial concession.
The five-time All-Star surrendered approximately $9.8 million in his buyout with Dallas, according to HoopsHype’s Michael Scotto. Thompson had been owed about $17.5 million during the final season of his Mavericks contract, leaving Dallas responsible for approximately $7.7 million.
Add his $5.6 million Heat salary, and Thompson should earn roughly $13.3 million this season between the two teams. That is about $4.2 million less than he would have received by simply remaining in Dallas.
Thompson can recover some of that difference through his second-year option. He also can decline the option and return to free agency next summer if a successful season in Miami rebuilds his value.
The arrangement reflects how strongly Thompson wanted to select his next destination. It also benefits a Heat front office attempting to squeeze every available dollar out of its remaining flexibility.
Nick Richards Remains on Heat’s Radar
GettyNick Richards13 of the Chicago Bulls dunks the ball during the second half against the Milwaukee Bucks at the United Center on March 1, 2026 in Chicago, Illinois.
Miami became hard-capped at the first apron after acquiring Giannis Antetokounmpo from the Milwaukee Bucks. A $5.6 million starting salary for Thompson should leave the Heat approximately $5 million below that limit, creating room for two minimum contracts.
Thompson became the 13th player on Miami’s standard roster. The Heat can now add a 14th and 15th player without first making a corresponding salary move.
The frontcourt remains the clearest area of need.
Veteran center Nick Richards is a player of “considerable interest” to Miami, according to Miami Herald reporter Barry Jackson. Richards has worked out with Heat players at Kaseya Center while wearing team gear, although he reportedly is considering several options.
The 6-foot-11 Richards averaged 5.8 points and 5.1 rebounds in 48 games split between Phoenix and Chicago last season. He has averaged 7.1 points, 5.8 rebounds and 0.8 blocks across six NBA seasons.
Richards would give Miami another traditional center behind Adebayo and allow the Heat to avoid overextending Bobby Portis in matchups requiring additional size.
Thompson fills a different need. The 36-year-old guard averaged 11.7 points last season while shooting 38.3% from 3-point range. He ranks fourth in league history with 2,899 made 3-pointers.
The final $11.5 million agreement gives Thompson a chance to contend and rebuild his market. It gives Miami something nearly as valuable this late in August: enough breathing room to keep building.
Klay Thompson’s Bigger Sacrifice Opens Door for 2 More Heat Moves