Klay Thompson Joins Miami Heat on Two-Year Contract

Klay Thompson clears waivers and signs a two-year contract with the Miami Heat, joining forces with Giannis Antetokounmpo for the upcoming season.

Klay Thompson cleared waivers on Sunday and has officially signed with the Miami Heat, as announced by the team later that evening. Thompson, now at 36, joins Miami on a two-year deal worth $11.5 million, with the second year being a player option and an additional 15 percent trade kicker included.

As Thompson enters his 14th season, he will team up with Giannis Antetokounmpo on a restructured Heat squad. Known for his sharpshooting, Thompson boasts a career 40.9 percent from beyond the arc and is expected to enhance floor spacing for Antetokounmpo and fellow big man Bam Adebayo.

“Klay is one of the most iconic players to ever suit up in the NBA,” said Heat president Pat Riley in a statement. “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 has spent the last two seasons with the Dallas Mavericks, during which he transitioned to a bench role for the first time since his rookie year in 2011-12. The Mavericks ended their turbulent relationship with Thompson as they completed a buyout agreement last Friday.

Thompson’s time in Dallas didn’t follow the trajectory he anticipated. Initially joining a franchise that seemed primed for a championship run alongside superstar Luka Dončić, Thompson played only a handful of games alongside him before significant roster changes at the trade deadline altered the team’s direction.

In contrast, his new home in Miami promises stability. The Heat have been constructed to contend in a competitive Eastern Conference, with strong rivals including the defending champion New York Knicks, Philadelphia 76ers, Boston Celtics, Cleveland Cavaliers, and Detroit Pistons.

Subsequent to the trade for Antetokounmpo, Miami has also acquired Bobby Portis from the Milwaukee Bucks, adding depth and versatility to their frontcourt. Additionally, Tim Hardaway Jr. has signed with Miami, having achieved a career-high 40.7 percent shooting from three-point range last season with the Denver Nuggets, where he was a finalist for the Sixth Man of the Year award.

Thompson, a five-time All-Star, is currently ranked fourth in NBA history with 2,899 made three-pointers, just 75 shy of surpassing Ray Allen for third place. Last season with the Mavericks, he averaged a career-low 11.7 points with shooting percentages that also represented personal lows, both from the field and from three-point distance.

The Heat are hopeful that Thompson can recapture some of the past success he had with the Golden State Warriors, partnering with Stephen Curry to form the “Splash Brothers,” often hailed as the greatest shooting backcourt ever.

Miami will kick off their regular season at home against the Minnesota Timberwolves on October 21, followed by a matchup against the Mavericks within the first week.