Mavericks buy out Klay Thompson — and he’s already got a new home

Klay Thompson’s tenure with the Mavericks has ended — and he’s expected to join an Eastern Conference contender.

Thompson and the Mavericks agreed to a buyout agreement, the team announced Friday, and one of the greatest 3-point shooters in NBA history is expected to sign with the Heat — who won the Giannis Antetokounmpo sweepstakes back in June — after clearing waivers, according to ESPN.

His stint in Dallas concluded after two seasons, and Thompson had one year remaining on his three-year, $50 million deal from back in 2024.

Dallas Mavericks guard Klay Thompson goes up for a shot between New York Knicks center Karl-Anthony Towns and New York Knicks guard Josh Hart during the second quarter at Madison Square Garden on Tuesday, March 25, 2025. Charles Wenzelberg / New York Post

“Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization,” Mavericks president of basketball operations Masai Ujiri said in a release. “We have tremendous respect for Klay and all that he has accomplished throughout his career, and we wish him nothing but the best moving forward.”

Thompson, a five-time All-Star four-time champion while playing alongside Stephen Curry with the Warriors, joined the Mavericks ahead of the 2024-25 campaign as part of a sign-and-trade.

He struggled while averaging just 11.7 points per game last year, shot 38.3% from behind the arc and mostly settled into a role as a Dallas reserve — only starting eight games.

It marked a stark difference — for both role and production — from when he averaged 21.9 points per game and shot 41.2% from 3 during the 2022-23 campaign with Golden State.

Klay Thompson of the Golden State Warriors drives past D’Angelo Russell of the Los Angeles Lakers during Game 5 of the Western Conference Semifinals on Wednesday, May 10, 2023, at Chase Center in San Francisco, California. Getty Images

But once he signs with the Heat, he’ll instantly join another contender serving as one of the Knicks’ most daunting obstacles in their quest to repeat and have a chance to carve out a sizable role again.

Miami landed Antetokounmpo from the Bucks in exchange for three first-round picks, a pick swap, a second-rounder, Tyler Herro, Kel’el Ware, Jaime Jaquez Jr. and Kasparas Jakucionis.

NBA insider Marc Stein reported in July that the Heat were interested in pairing Thompson with both Antetokounmpo and center Bam Adebayo.

And while he’s not the same star he once was with Golden State, Thompson has still made the fourth-most 3-pointers in NBA history — passing Damian Lillard during a January game and now sitting just 74 behind Ray Allen for the third-most in league history.