Klay Thompson cleared waivers on Sunday and signed with the Miami Heat, the team announced Sunday night. Thompson will join Miami on a two-year, $11.5 million contract, a league source told The Athletic. The source spoke on condition of anonymity because the team did not announce contract details. The second year is a player option, and the deal also includes a 15 percent trade fee. Thompson, 36, will join forces with Giannis Antetokounmpo on the revamped Heat. Thompson, a career 40.9 percent 3-point shooter, is expected to provide much-needed spacing for Antetokounmpo and Heat colleague Bam Adebayo. “Klay is one of the most iconic players the NBA has ever suited up,” Heat president Pat Riley said in a statement. “A battle-tested four-time world champion who will fit perfectly into his role as a versatile player on both ends of the floor. We all talk about his shooting ability, but there is so much more he brings to the game. We are blessed that Klay chose the Heat in our quest to contend for championships.” Thompson spent the last two seasons with the Dallas Mavericks. Last season, the future Hall of Famer moved to a bench role for the first time since his rookie season in 2011-12. The Mavericks agreed to a buyout with Thompson on Friday, ending a turbulent tenure in Dallas that saw the Mavericks trade Luka Dončić and Anthony Davis, hit the jackpot with Cooper Flagg and go 65-99 over the past two seasons. It’s far from what Thompson envisioned when he joined the Mavericks, who appeared to be on track to win the championship under Dončić. After winning four championships with the Golden State Warriors, Thompson initially saw the Mavericks as an opportunity to continue competing at a high level. Instead, he played just 21 games under Dončić before Dallas’ franchise trade in February 2025. In Miami, Thompson won’t have to worry about the direction of the franchise. The Heat have been built to compete with the defending champion New York Knicks, the new-look Philadelphia 76ers, Boston Celtics, Cleveland Cavaliers and Detroit Pistons. Miami also received Bobby Portis from the Milwaukee Bucks in the Antetokounmpo trade. Portis, who won a championship with the 2021 Bucks and became one of the NBA’s best sixth men during his six years in Milwaukee, adds depth and versatility in the frontcourt. Additionally, Miami signed shooting wing Tim Hardaway Jr., who shot a career-high 40.7 percent from 3-point range with the Denver Nuggets last season and finished third in Sixth Man of the Year voting. Thompson, a five-time All-Star, ranks fourth in NBA history in three-pointers made with 2,899. He only needs 75 three-pointers to pass Ray Allen for third place. Thompson averaged a career-low 11.7 points for the Mavericks last season, shooting 39.3 percent from the field and 38.3 percent on 3-pointers, both career lows. The Heat hope Thompson can turn back time and replicate some of the magic he helped create with Golden State, where he teamed with Stephen Curry to form the “Splash Brothers,” widely considered the greatest shooting backcourt of all time. Miami opens the regular season at home on October 1. 21 against the Minnesota Timberwolves. Five nights later, Thompson and the Heat will welcome the Mavericks.
