The Dallas Mavericks tried to find a trade for Klay Thompson this offseason, but interest was limited given the 36-year-old’s current production and his $17.5 million contract. Thompson, for his part, wanted to play for a contender.
That all came together Friday. The Mavericks announced a buyout deal with Thompson, and minutes later ESPN’s Shams Charania reported that the four-time NBA champion will sign with the Miami Heat.
This is a win for Thompson and the Heat, while the Mavericks will have to eat some salary as they transition the roster to one built for the future around Cooper Flagg.
Miami had its eye on Thompson throughout the offseason, seeing the veteran as the kind of floor-spacing wing who would be an ideal fit around Giannis Antetokounmpo and Bam Adebayo, especially after losing Tyler Herro (to the Bucks in the Antetokounmpo trade) and Norman Powell (to Chicago in free agency). Miami and Dallas talked Thompson trade, but after going all in on Antetokounmpo, the Heat had little left to deal for Thompson, or at least nothing that interested the Mavericks.
The Heat have kept about $8 million of their mid-level exception open so they could make an offer to Thompson if and when he was bought out, although he could take the veteran minimum of $3.9 million as well, giving the Heat flexibility to add another player. While the terms of the buyout with Dallas were not announced, Thompson is unquestionably taking a buyout discount equal to what Miami will pay him, so that his salary remains unchanged.
After signing Thompson, the Heat have two open roster spots. Miami is hard-capped at the first apron (because of the Antetokounmpo trade) and was $10.6 million below that line prior to signing Thompson. They have left whatever remains.
Dallas gets to turn the page.
“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 statement announcing the buyout. “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.”
Dallas now has 15 guaranteed contracts on the roster, a full boat heading into training camp.
Last season in Dallas, Thompson averaged 11.7 points per game while shooting 38.3% from beyond the arc. He remains a dangerous shooter and plays a high IQ game, but he is not the athlete or defender he was a decade ago at his peak. While the four-time NBA champion and future Hall of Famer can still reach those highs for a stretch, he is much more inconsistent and prone to errors than he once was.
That’s all good with the Heat, who need the shooting and depth and land the guy they had their eye on all summer.
