Klay Thompson’s deal with the Miami Heat comes after weeks of patiently waiting on the part of the Heat to see if they will be able to sign the sharp-shooting star to their revamped team.
Having been No. 4 on the all-time list of players who have made 3-pointers in NBA history, Klay Thompson has waived his clearance to sign a two-year deal with the Miami Heat for $13 million.
We just made a splash, bro! Welcome to the 305, @KlayThompson 🔥 pic.twitter.com/zCRNvzFdh0
— Miami HEAT (@MiamiHEAT) August 24, 2026
As first reported by ESPN’s Shams Charania, Thompson’s contract, which includes a player option in the second year, was finalized by Sunday afternoon.
Perfect Fit
There are several reasons why the deal was sensible for both parties. Thompson is no secret when it comes to loving water sports, and the Heat play their home games on the edge of Biscayne Bay.
Thompson is of Bahamian descent, while the islands are only a short flight away from Miami and are home to many Heat supporters. Most important of all, the Heat were looking to improve their team’s shooting ability in order to complement their new acquisitions of Giannis Antetokounmpo and Bam Adebayo.
“Klay is one of the most iconic players to ever suit up in the NBA,” Heat President Pat Riley said. “A four-time battle tested World Champion who will fit perfectly into his role as an all-around player at both ends of the court.
We all talk about his shooting skill, but there is so much more he brings to the game. We are blessed that Klay chose the Heat in our quest to challenge for championships.”
Thompson, a 36-year-old player who will play in his 14th season in total (excluding the two seasons he lost due to injuries), definitely does. The veteran is a 41 percent shooter from beyond the arc and last season was the 11th occasion when he scored more than 200 triples. By the way, in the entire Heat history, there were only seven occasions when some Heat player reached 200 three-pointers in a season.
Then there is the experience of winning which Thompson brings along. He teamed up with Stephen Curry and became a part of Golden State’s famous “Splash Brothers” tandem that helped Warriors win four NBA titles.
He is also a five-time All-Star, has the record for most three-pointers in a single game in the league’s history with 14, scored at least 10 three-pointers in a game nine times, and needs only 74 three-pointers to surpass Ray Allen – a former Heat guard – and get to the third place in the league’s all-time list.
It is the latest move of many that Heat has made this summer. They traded Antetokounmpo and Bobby Portis for Tyler Herro, Jaime Jaquez Jr., Kel’el Ware, and Kasparas Jakučionis to the Milwaukee Bucks. They also signed another dangerous three-point shooter, Tim Hardaway Jr., who has grown up in Miami when his father played for the Heat.
Thompson and the Dallas Mavericks have agreed on a buyout of his contract that came into effect on Friday. This marks the end of his two-year stint with the Mavericks which certainly failed to deliver what both sides expected from each other – especially taking into account the surprising trade of Luka Doncic to Los Angeles Lakers.
The Dallas Exit
Thompson was brought to the Mavericks in the sign-and-trade deal with Golden State, adding to their team one of the best shooters in the history of the three-point shot and an additional high scorer in addition to Doncic and Kyrie Irving.
But this dream combination fell apart after Mavericks sent Doncic to Los Angeles Lakers for Anthony Davis in the deal made before the 2025 trade deadline. Irving tore his ACL in his left knee a month later and has not played ever since. Anthony Davis himself was traded to the Washington Wizards before February trade deadline in 2024 season.
