While the exact buyout figure was initially uncertain, Michael Scotto of HoopsHype reported the financial specifics of the agreement. “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,” Scotto posted on X.

Thompson entered the final year of his contract with the Mavericks, set to earn $17.5 million. He is expected to sign a two-year, $13 million deal with the Miami Heat, where he will team up with Giannis Antetokounmpo, making a return to the Golden State Warriors impossible.

Thompson’s production With Mavericks

Thompson was a reliable shooter for the Mavericks during his two seasons with the squad, averaging 12.9 points while shooting 38.7% from three-point range. The veteran is expected to fully capitalize on the floor spacing created by Antetokounmpo and Bam Adebayo in Miami.

Organizational turnover prompting departure

Major organizational shifts followed Thompson‘s arrival in Dallas. Luka Doncic was traded in exchange for Anthony Davis, who was subsequently traded to the Washington Wizards.

Nico Harrison was dismissed, leading the Mavericks to hire Mike Schmitz as general manager and Masai Ujiri as team president. Beyond seeking an opportunity with a title contender, Thompson likely sought a more stable environment given the roster and front-office movement.

Head coach Jason Kidd was also dismissed following the NBA season, with Dusty May taking over as head coach. The franchise’s desire to move on from Thompson aligns with its goal to get younger and rebuild around Cooper Flagg.

According to Brett Siegel of ClutchPoints, a return to the Bay Area is impossible under current league regulations. “A reunion between Klay and the Warriors could only happen if he were to become a free agent, and that’s not by way of buyout. We’re talking next offseason, next summer, where the Warriors aren’t a first apron team or a second apron team. If he gets bought out of his contract now, the Warriors cannot sign him due to the CBA rules,” Siegel stated.

A comeback is now completely ruled out after Thompson reached a buyout agreement with the Mavericks. His arrival with the Heat is imminent and could be announced sooner than expected, when he joins Giannis Antetokounmpo and Bam Adebayo.

Thompson open to Golden State return

In a viral video from Thompson‘s signature signing event at last month’s Fanatics Fest NYC, a fan asked the star guard about a potential return to the Bay Area.

Thompson’s response was notably direct. “Shoot, I don’t know,” Thompson said while signing a picture. “I got one more year in my deal. It would be nice to end it in Golden State.”

A reunion fans still hope for

A Klay Thompson return to Golden State and a reunion with Stephen Curry and Draymond Green for one final season remains the dream scenario every Warriors fan hopes to see one day.

Thompson left the Warriors in 2024 after signing a three-year, $50 million contract with the Mavericks. He enters the final year of his current contract during the upcoming 2026-27 NBA season.

The four-time NBA champion averaged 11.7 points, 2.1 rebounds, and 1.4 assists in 21.7 minutes last NBA season, shooting 38.3 percent from three-point range across 69 games.

According to Shams Charania of ESPN, Thompson is close to finalizing his move to South Beach. “Klay Thompson is expected to sign with the Miami Heat after he clears waivers upon a contract buyout with the Dallas Mavericks,” Charania reported. The potential arrival would create a formidable starting lineup for Miami.

Miami Heat predicted starting five:

• PG: Davion Mitchell
• SG: Klay Thompson
• SF: Andrew Wiggins
• PF: Giannis Antetokounmpo
• C: Bam Adebayo

Potential deal details between Thompson, Mavericks, and Heat

Details about the buyout have emerged, showing how Thompson could reach an agreement with the Miami Heat and confirming that a deal appears increasingly likely ahead of schedule within the franchise’s framework.

According to Shams Charania, Thompson and the Mavericks navigated a buyout from his $17.5 million expiring salary after the four-time NBA champion made it clear to Dallas that he wanted to play for a contender, a detail that directly interests Miami.

According to Brett Siegel of ClutchPoints, the Heat have $8.9 million of their traded player exception (TPE) remaining to offer him, making it plausible that this matches the exact amount he surrendered in his buyout with Dallas. However, the official buyout amount is still pending.

Heat positioned as championship contenders

All signs indicate the Heat built a roster designed to be top contenders for an NBA championship. Although many fans consider several players to be washed following down seasons—as is the case with Thompson and Andrew Wiggins—their proven track record suggests that quality surrounding talent might be what they needed.

The four-time NBA champion averaged 11.7 points, 2.1 rebounds, and 1.4 assists in 21.7 minutes last season, shooting 38.3% from three-point range across 69 games. While those numbers fall below his prime years, the presence of Giannis Antetokounmpo and Bam Adebayo inside the paint will generate far more open opportunities for him outside the arc.

Thompson has yet to approach the team to request a buyout, but NBA insider Marc Stein revealed that there has been communication between the two parties regarding his future in Dallas.

“There has indeed been direct contact this offseason between new Mavericks president Masai Ujiri and Thompson, but Dallas has maintained since mid-June that it prefers to trade Thompson if possible rather than buy him out,” Stein wrote Sunday night.

Heat express desperate interest in Klay

Stein established on a DLLS Mavs livestream that Miami Heat is “desperate” to add the sharpshooter, signaling the franchise may be willing to offer an intriguing option for Thompson.

“All we know is, Miami is desperate for Klay Thompson, but they want to sign him as a free agent. They would not be the only team interested,” Stein said. Among those other interested suitors, the Los Angeles Lakers could enter the mix following previous rumors regarding their interest.

Heat hold out for potential contract buyout

The situation creates a clear disconnect between both sides. The Mavericks want to receive compensation in exchange for Thompson, whereas Miami‘s preferred option would require the Mavericks to buy out the final year of his contract.

Miami has already shown reluctance to sacrifice NBA young talent in a prospective deal. Previous reports indicated the Heat were unwilling to include Nikola Jovic in trade negotiations for Thompson, complicating a direct agreement with Dallas.

A contract buyout would allow the Heat to sign Thompson without surrendering Jovic or other rotation players, but Stein’s latest statements suggest the Mavericks are not yet ready to take that route. Thompson has also made his priorities clear as he approaches the final stage of his career, recently stating that his main goal is to play for a team capable of making a deep playoff run and competing for another championship.

According to Bleacher Report’s Jake Fischer, the Dallas Mavericks have been hesitant to buy out Klay Thompson due to the strong interest from the Lakers and Heat.

The Mavericks want to make things difficult for the Heat or Lakers while leveraging the situation to their advantage. The team knows that releasing him through a buyout would allow him to immediately join and strengthen a direct rival, whereas a potential trade could yield assets that help its own roster.

Does a trade benefit the Mavericks?

Thompson’s departure does not mean Dallas would completely solve its roster logjam, as specific positions remain overcrowded where those minutes could be utilized elsewhere. According to The Stein Line’s Marc Stein, Thompson could be the odd man out amid the team’s congestion, which suggests the best course of action might be letting him become a free agent in the NBA.

“Even if Thompson ultimately moves on this offseason, either via trade or buyout, that’s quite a logjam for first-year coach Dusty May, who also has five big men to find minutes for: (Daniel) Gafford, Derek Lively II, Moussa Cisse, recently acquired Santi Aldama, and first-round pick Morez Johnson Jr.”

It remains to be seen what the franchise plans over the coming weeks, as the front office could look to bolster other areas of need or depth. However, Thompson remains the key piece driving its decision-making and the potential return it can extract from him.

Lakers as the most intriguing destination

Thompson, who nearly joined Los Angeles before signing with Dallas in 2024, would be receptive to returning to the city, according to The Athletic’s Christian Clark. The 36-year-old spent part of his childhood in the Los Angeles area and maintains a home nearby.

Yet, Thompson’s departure would not solve everything for the Mavericks. The Stein Line’s Marc Stein noted that with the trade for Zaccharie Risacher and the three-year, $52.2 million contract extension for Naji Marshall, Thompson could be the odd man out amid the team’s congestion.

“(Cooper) Flagg. Risacher. Marshall. (PJ) Washington. Max Christie (who also became extension-eligible this summer). Thompson. Tarik Biberovic. Caleb Martin. Those are the eight swingmen currently on Dallas’ roster,” wrote Stein on his Substack.

“Even if Thompson ultimately moves on this offseason, either via trade or buyout, that’s quite a logjam for first-year coach Dusty May, who also has five big men to find minutes for: (Daniel) Gafford, Derek Lively II, Moussa Cisse, recently acquired Santi Aldama, and first-round pick Morez Johnson Jr.”

Klay still a key piece

Thompson, who is also being linked to the Miami Heat, is clearly not the same player following major injuries, but he remains a serviceable guard off the bench who can catch fire at any given moment.

However, with the Mavericks last season, the four-time champion and five-time All-Star averaged career-lows of 11.7 points, 39.3% shooting, 2.1 rebounds, 1.4 assists, and 21.7 minutes. It is possible, however, that he could get more opportunities under May than he did under Jason Kidd, who coached Thompson for two seasons.

The Lakers’ interest

Thompson’s numbers shift when analyzing the games he played alongside Luka Doncic in Dallas. In the 21 NBA games he actually played alongside Doncic before the trade, Thompson averaged 14.9 points on 40.6 percent shooting from three—a sample size that has fueled belief the fit could still work in Los Angeles.

That could be one of the main reasons the Lakers remain so interested, as the franchise knows the space Doncic can create for an elite shooter like Thompson to capitalize on.

“That’s exactly why, if you’re me, you would be open to that is because of the man. I have all the respect in the world for him, and I know what he did for the Mavericks and what he’s done for basketball,” Jones said to Calvin Watkins of the Dallas Morning News.

“You want to associate with the highest quality of [a person] who loves the game and then also at the same time wants to do something about it. Mark leads the way in that.”

Will Jones sell the Cowboys anytime soon? That remains uncertain. The only clear thing is that Mark Cuban, with his extensive experience in the sports world, could be the perfect candidate to take over.

Mark Cuban’s era with the Mavericks

Mark Cuban’s transformative era as owner of the Dallas Mavericks began in January 2000, when he purchased the majority stake in the struggling franchise for $285 million. Under his passionate leadership and player-first investment, the Mavericks emerged as a perennial contender, highlighted by winning two Western Conference titles (2006 and 2011) and the franchise’s sole NBA Championship in 2011.

In late December 2023, Cuban sold his controlling majority stake to the Adelson and Dumont families at a valuation of approximately $3.5 billion. Today, he serves as a minority owner (retaining around 27% equity) while maintaining oversight of the team’s basketball operations.

The Dallas Cowboys’ valuation

According to Forbes, the Dallas Cowboys are valued at a record-setting $13 billion, solidifying their position as the most valuable sports franchise in the world for the 19th consecutive year. This valuation represents a 29% increase from their previous $10.1 billion mark, making them the first team in sports history to cross the $13 billion threshold.

Driven by an estimated $1.234 billion in annual revenue and an operating income of $629 million, Jerry Jones’ franchise continues to lead global sports business by a wide margin.

According to Jake Weinbach, the Cavaliers are interested following reports that Washington is available on the market. “Cavaliers would be a team worth monitoring for PJ Washington with the Mavericks forward reportedly available on the trade market. Cleveland’s interest level may depend on how the rest of free agency plays out, but Washington’s two-way skill set would be a desirable fit,” Weinbach stated.

Washington could serve as a strong target for the Cavaliers after missing out on LeBron James. However, potential roster shifts could unfold across the league, with rumors also pointing to a possible departure for Klay Thompson amid interest from the Miami Heat.

Washington could be out of Dallas’ future plans

The Dallas Mavericks intend to go all-in on the Cooper Flagg era and seem to want to move on from a couple of veteran contracts from the previous group to focus on a new, renewed roster.

The team has also loaded up with players who accomplish similar things, adding Morez Johnson Jr., Zaccharie Risacher, and Santi Aldama while recently extending Naji Marshall.

The franchise wanting to get off that money and open up minutes could help the Cavaliers get a player that checks their boxes at a good price. Last season, Washington put up 14.2 points, 7.0 rebounds, and 1.8 assists on 45.0/32.5/68.7 shooting splits.

He was a little bit better from three than the season before at 38.1% on a similar output. Now seven years into his NBA career, he has remained fairly consistent. He can rebound, is active on defense, and spaces the floor a little bit at forward.

According to HoopsHype’s Michael Scotto, the Dallas Mavericks and Milwaukee Bucks have joined a growing list of teams exploring a potential sign-and-trade for Mathurin. “While the Los Angeles Clippers remain interested in re-signing restricted free agent Bennedict Mathurin, the New Orleans Pelicans, Chicago Bulls, Milwaukee Bucks, and Dallas Mavericks have expressed sign-and-trade interest in the 24-year-old swingman, league sources told HoopsHype,” Scotto reported. “With that said, there’s work to be done by each team if they’re going to add Mathurin.”

Mathurin’s restricted free agency has become one of the more closely watched situations of the offseason as the Clippers remain unable to finalize additional major roster moves while the league reviews the circumstances surrounding Leonard’s expected trade to the Toronto Raptors. The investigation, which was recently reported could extend into 2027, has left Los Angeles in a holding pattern.

The Wizards as interested suitors

Scotto noted that New Orleans remains a viable contender after attempting to acquire Mathurin via trade before last season’s deadline, when he was still playing for the Indiana Pacers. The Pelicans possess the $15.04 million non-taxpayer mid-level exception, allowing them to avoid the luxury tax while sitting $8.22 million below that threshold.

Scotto reported that the organization has explored trading Jordan Hawkins, including discussions with the Memphis Grizzlies involving AJ Johnson, in order to generate greater flexibility. Chicago also remains in the mix after pursuing Mathurin before last season’s trade deadline. Scotto reported the Bulls’ new front office and coaching staff remain high on the former lottery pick, although a sign-and-trade appears to be the club’s only realistic path given its available cap mechanisms.

Stiff competition for the Clippers

The Bucks have also been in contact with Mathurin as they continue restructuring their roster. Milwaukee possesses the full non-taxpayer mid-level exception and still holds a $25.46 million trade exception generated in the Giannis Antetokounmpo deal. However, the Bucks also face roster spot constraints and must trim the squad from 17 players down to the 15-player regular-season limit.

Dallas presents another intriguing possibility. Scotto reported that any serious pursuit would likely require the Mavericks to move or buy out Klay Thompson, who is entering the final season of his $17.46 million contract. Without Thompson, Max Christie would become Dallas’ only traditional shooting guard currently under contract.

Despite the growing list of interested teams, the Clippers continue to prioritize bringing Mathurin back. The 24-year-old is coming off a career-best NBA season in which he averaged 17.6 points per game and remains viewed as an important piece of Los Angeles’ long-term plans.

According to ESPN’s Shams Charania, Thompson has emerged as the franchise’s top priority. “The Miami Heat’s number one priority right now is to acquire shooting. And they found their No. 1 target for that…Klay Thompson. The problem is Klay Thompson has one year left on his Mavs contract so they’re exploring whether they can trade for him, whether this could end up in a buyout, we’ll see over the next several weeks,” Charania reported.

Thompson is entering the final season of his three-year, $50 million contract with the Mavericks. While Miami would prefer to acquire Thompson following a potential buyout, interest from other championship contenders could force the Heat to pursue a trade if Dallas makes the veteran guard available.

Klay Thompson as a key piece

Miami’s interest extends well beyond Thompson’s general profile. The Heat is searching for perimeter shooting upgrades after missing out on signing LeBron James, and Thompson’s long-range capability directly aligns with that objective.

A four-time NBA champion, Thompson has established himself as one of the premier perimeter shooters in league history. He holds a career 40.9% mark from three-point territory while averaging 7.6 attempts per game. Last season with Dallas, he connected on 38.3% of his three-point attempts while maintaining that same high volume.

Thompson’s elite shooting would complement Antetokounmpo’s ability to collapse defenses in the paint alongside Bam Adebayo’s playmaking out of the frontcourt. Both stars regularly generate open perimeter opportunities—an area where Thompson has excelled throughout his career.

At this stage of his career, Thompson is no longer expected to carry the heavy load he managed during Golden State’s championship runs. Instead, Miami views him as a veteran floor-spacer capable of maximizing the open looks generated by Antetokounmpo and Adebayo.

Shams Charania of ESPN reported that Irving, after missing the entirety of the 2025-26 season following a torn ACL sustained on March 3, 2025, is now fully healthy and set to be fully part of the team’s plans for next season. “He’s fully recovered, 100% from that ACL tear. He’s been fully entrenched with the Mavericks plans this offseason,” Charania said on The Stephen A. Smith Show.

Irving and the Mavericks were cautious with his recovery throughout last season, and understandably so. The Mavs were in the first year of a post-Luka Doncic rebuild, and rushing Irving back made little sense given how far the squad was from contending for a playoff spot.

Irving as a key piece for the Mavericks

At 34 years old, history has not been kind to smaller guards suffering severe knee injuries. However, modern medicine has advanced tremendously compared to just five years ago, fueling hope that the Mavericks star can make a full recovery, especially after taking his time in rehabilitation.

Irving will serve as the most veteran player on a young Mavs squad that is betting everything on Cooper Flagg as its foundational pillar. He will bring the point guard presence that Dallas severely lacked last season when forced to rotate several players at the position.

It will be compelling to see how Irving fits into the Mavericks‘ plans. He has two years remaining on his contract, featuring a player option for the 2027-28 season, and at 34 years old, he does not entirely fit the team’s long-term timeline or aspirations.

Notably, Irving was reportedly one of the stars LeBron James wanted to team up with, though the Cleveland Cavaliers apparently failed to pull off an adequate trade. During the 2024-25 NBA season, Irving averaged 24.7 points, 4.8 rebounds, and 4.6 assists per game while shooting 47% from the field, 40% from three-point range, and 92% from the free-throw line.