Klay Thompson forfeits nearly $10 million in Dallas exit for Miami

Klay Thompson and the Dallas Mavericks agreed to a contract buyout on Friday, ending a disappointing two-year run. He is now set to sign with the Miami Heat once he clears waivers, according to ESPN's Shams Charania. 

The four-time champion was owed $17.5 million for the 2026-27 season, the final year of the deal he signed via a 2024 sign-and-trade. Instead of playing out the contract, Thompson pushed for a buyout to chase a title. Dallas granted the request since their rebuilding phase around 19-year-old Cooper Flagg continues. 

 However, the exit came with a multi-million dollar sacrifice. To get out of Dallas, he agreed to walk away from roughly $9.8 million of the $17.5 million he was still owed, taking closer to $7.7 million in the buyout.

NBA insider Michael Scotto tweeted, “Klay Thompson gave back roughly $9.8 million in his buyout agreement with the Dallas Mavericks, league sources told @hoopshype . As widely reported, Thompson now plans to join the Miami Heat once he clears waivers.”

Thompson originally joined Dallas in 2024 to pair with Luka Doncic after the Slovenian star led the Mavericks to the NBA Finals. However, the shocking Doncic trade in February 2025 derailed those plans. Thompson eventually lost his starting spot under former coach Jason Kidd, finishing the season averaging 11.7 points on career-low shooting numbers across 69 games. 

Now, he plans to sign a two-year deal worth nearly $13 million with Miami, which includes a player option for the second season so he can continue chasing a title. Giving up that money was necessary to land on a championship contender.

Next season, he will play alongside Bam Adebayo and Giannis Antetokounmpo, who arrived in Miami via trade this past June. The two-time MVP gives the Heat their first true superstar center-forward pairing with Adebayo in years. 

Plus, Thompson's outside shooting gives Miami much-needed floor spacing. The Heat saved money from their mid-level exception for Thompson all offseason, making Miami his top choice as soon as Dallas agreed to the buyout.

At 36, he's no longer the two-way force like in his prime. Miami is mainly banking on his shooting gravity to open the floor for Antetokounmpo and Adebayo as the franchise looks to reestablish itself as a threat in the Eastern Conference.

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