The pathway for the Heat’s first major move since the trade for Giannis Antetokounmpo was cleared on Friday as guard Klay Thompson negotiated a buyout from the Dallas Mavericks.

After Thompson clears the 48-hour waiver period, he is expected to join the Heat in free agency, multiple NBA sources have confirmed to the South Florida Sun Sentinel.

Although Thompson technically could be claimed off waivers by another team at his full $17.4 million salary for 2026-27, no such move is either expected or likely even possible.

Thompson then is expected to sign for most of what remains of the Heat’s mid-level exception, with the first $6 million of that $16 million exception having gone to Denver Nuggets free-agent guard Tim Hardaway Jr.

Although the Heat currently possess quality 3-point shooting in the former of returning players Andrew Wiggins and Davion Mitchell and newcomers Hardaway and Bobby Portis, Thompson’s dynamic 3-point career output should provide the type of spacing to prove maneuvering room on offense for Antetokounmpo and Bam Adebayo.

Thompson likely would round out a Heat starting lineup of Antetokounmpo, Adebayo, Wiggins and Mitchell.

That, in turn, should leave the Heat with quality depth in the former of Hardaway, Portis, Pelle Larsson and Dru Smith, among others.

The Heat have 12 players under standard contract, and Thompson would become the 13th. The Heat will be required to add one additional player under standard contract, but then are expected to leave their 15th and final standard roster spot vacant due to their position against the hard salary cap created by the machinations needed to acquire Antetokounmpo.

The Mavericks announced at midday the buyout of Thompson, who turned 37 in February. Thompson appeared in 141 games (80 starts) in his two seasons with Dallas and averaged 12.9 points on .403 shooting from the field and .387 on 3-pointers.

“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 the 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.”

On Jan. 15, 2026, Thompson passed Damian Lillard for fourth place on the NBA’s all-time 3-pointer list. Thompson currently sits at 2,899 3-pointers, one of only five players to hit at least 2,800 3s in his career.

Thompson made at least 200 3-pointers in both of his seasons in Dallas, bringing his total number of seasons with 200-plus made 3s to 11. He is one of two players in NBA history to notch 10 or more seasons with 200 3-pointers made.

Thompson was acquired by Dallas from Golden State as part of a six-team trade on July 6, 2024. At the time, the thought was he would close out his career complementing Luka Doncic, just as he complemented Stephen Curry during their Golden State Warriors championship era.

Instead, once the Mavericks dealt Doncic to the Lakers, Dallas moved to a rebuilding approach, now aligned with the timeline of 2025 No. 1 overall draft pick Cooper Flagg.

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