MIAMI (AP) — Klay Thompson has signed his deal with the Miami Heat, who waited patiently for weeks to see if they would get the chance to add the sharpshooter to their reworked roster.
Thompson — who is No. 4 on the NBA's all-time 3-pointers made list — cleared waivers Sunday afternoon and wasted little time finalizing a two-year deal worth about $11.5 million. The second season of the deal is at Thompson's option.
The deal makes sense in many ways for both sides. Thompson makes no secret about how much he loves the water and boating; the Heat play their home games at the edge of Biscayne Bay. He's of Bahamian heritage; the island nation is a short flight from Miami and is home to a sizable base of Heat fans. And, perhaps most importantly, the Heat knew they wanted to add shooting to surround the newly acquired Giannis Antetokounmpo and incumbent center 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 about to enter his 14th season (not counting two missed because of injury) fits that bill perfectly. He's a career 41% shooter from beyond the arc, and last season marked the 11th time that he's made more than 200 3-pointers in a season. For context, the Heat — in their history — have had a player makes 200 3s in a single year only seven times.
There's also the winning pedigree that Thompson brings. He paired with Stephen Curry to be part of Golden State's famed “Splash Brothers” duo that helped lead the Warriors to four NBA championships. He's a five-time All-Star, holds the league record with 14 made 3s in a game, has connected on at least 10 3s in a game nine times and will enter this season just 74 3s behind Ray Allen — a former Heat guard — for third place on the league's all-time list.
It's the latest big move for the Heat this summer. They acquired Antetokounmpo and Bobby Portis from Milwaukee in a deal that saw them send Tyler Herro, Jaime Jaquez Jr., Kel'el Ware and Kasparas Jakučionis to the Bucks. They also signed another big-time 3-point threat in Tim Hardaway Jr., who grew up in Miami while his father was playing for the Heat.
Thompson and the Dallas Mavericks agreed on a contract buyout that was executed Friday, the end of his two-year run there that didn't go anywhere close to what either side originally envisioned — especially after the shocking trade of Luka Doncic by the Mavs to the Los Angeles Lakers.
Thompson joined Dallas in a sign-and-trade with Golden State, giving the Mavericks one of the league’s all-time great 3-point shooters to complement Doncic and another high-scoring guard in Kyrie Irving.
But the high hopes for that threesome imploded after the Mavericks sent Doncic to the Lakers for Anthony Davis in a deal before the trade deadline in 2025. Irving tore the ACL in his left knee a month later and hasn’t played since. Davis was traded to the Washington Wizards just before the February trade deadline last season.
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