The Miami Heat remain at the front of the line for Klay Thompson. The problem is that the line may not be moving.
Miami continues to lead the group of teams hoping the Dallas Mavericks will buy out Thompson’s expiring contract, NBA insider Marc Stein reported Sunday night. Dallas, however, has maintained since June that it would prefer to trade the four-time NBA champion rather than pay him to play elsewhere.
“The Stein Line has learned that there has indeed been direct contact this offseason between new Mavericks president Masai Ujiri and Thompson,” Stein wrote. “But Dallas has maintained since mid-June that it prefers to trade Thompson if possible rather than buy him out.”
Two sources briefed on the process told Stein that Thompson’s future remained unclear as of Sunday.
That uncertainty has become the central issue in Miami’s patient offseason strategy.
Heat Waiting After Missing Out on Bradley Beal
Getty Miami Heat’s pursuit of Klay Thompson already cost them Bradley Beal, who decided to return to the Los Angeles Clippers.
The Heat passed on using their remaining financial resources while waiting to see whether Thompson would become available. That patience cost them one alternative when Bradley Beal agreed to return to the Los Angeles Clippers on a two-year, $13.2 million contract.
Miami had spoken with Beal’s representatives earlier in free agency, but Thompson remained the preferred option. Beal’s decision leaves the Heat with one fewer accomplished scorer to consider as they fill out the roster around Giannis Antetokounmpo and Bam Adebayo.
Thompson’s shooting remains an obvious fit. Miami needs perimeter gravity around two stars who do much of their damage inside the arc. Although Thompson endured the least productive season of his career, he still made 202 3-pointers while primarily coming off the bench.
He averaged 11.7 points and shot 38.3% from beyond the arc. Those numbers represent a decline from his Golden State prime, but defenses still track him differently from an ordinary veteran shooter.
The Heat have preserved the remaining portion of their midlevel exception for a potential run at Thompson if he reaches free agency. Their other roster openings would likely be filled with veteran-minimum contracts if that money remains reserved for him.
Mavericks Face Klay Thompson Roster Decision
Dallas has 16 players on standard contracts, one more than the regular-season maximum. The Mavericks must reduce that number to 15 by Oct. 19, giving Ujiri a deadline but not necessarily forcing him to move Thompson.
The 36-year-old will earn $17.46 million in the final season of the three-year, $50 million contract he signed in 2024. His expiring salary has value in a trade, particularly for a team seeking shooting without accepting a long-term commitment.
A trade to Miami would be more complicated than a post-buyout signing. The Heat would have to send out matching salary, with Nikola Jovic’s $16.2 million contract representing the cleanest financial fit. Miami would understandably hesitate to surrender a 23-year-old forward on a multiyear deal for one season of Thompson.
A buyout would allow the Heat to sign Thompson without sacrificing a rotation player or draft capital. It would also give Thompson the freedom to choose a contender.
“I want to compete for a championship, not necessarily win one, but just like have the chance to go and try and get another one,” Thompson said during a Twitch stream with PlaqueBoyMax. “I want to play a role on a team that can make a deep playoff run. Whether it’s this season or next season. That’s really my only goal.”
That ambition aligns with Miami’s pitch. The Heat can offer a defined shooting role, championship expectations and a roster built to benefit from his best remaining skill.
What they cannot control is Dallas.
Miami is first in line. It is still waiting for the Mavericks to open the door.
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