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While Klay Thompson is giving back $9.8 million out of his $17.4 million salary with the Mavericks for the upcoming season, he is also giving himself a chance to earn $11.5 million with his move to the Heat. According to Sam Amick and Darnell Mayberry of The Athletic, Thompson is currently near a contract agreement with the Miami Heat that could keep him in Miami for the next two seasons. “Klay Thompson cleared waivers Sunday and agreed to sign a two-year, $11.5 million contract with the Miami Heat, a league source told The Athletic.” “The source spoke anonymously because the deal had not yet been announced. The second year is a player option, and the deal also includes a 15% trade kicker,” Amick and Mayberry wrote in their latest report shortly before the Heat confirmed this news. This means Klay Thompson would earn $5.6 million in 2026-27 and $5.88 million in 2027-28 (player option). We just made a splash, bro! Welcome to the 305, @KlayThompson 🔥 pic.twitter.com/zCRNvzFdh0 — Miami HEAT (@MiamiHEAT) August 24, 2026 Thompson is coming off arguably the worst season of his NBA journey, where he averaged career-lows of 11.7 points, 2.1 rebounds, and 1.4 assists while shooting 39.3% from the field and 38.3% from behind the three-point line. This was the first season of his career in which he shot below 40.0% from the field. But this was also the first time since his rookie season that he accepted a role coming off the bench. He initially joined the Mavericks in October 2024 with the expectation that he would compete for a championship alongside Luka Doncic. But after only 21 games with Doncic, the Slovenian star was traded to the Lakers in February 2025. Now, Thompson seems to have once again made it clear that competing for a championship is his highest priority, and hence he navigated his way out of the rebuilding Mavericks to join forces with Giannis Antetokounmpo and Bam Adebayo in Miami. Pat Riley, the Heat’s president, has also indicated that Thompson is the perfect type of veteran the Heat needed to elevate to championship contention. “Heat president Pat Riley has long believed the teams with championship aspirations need older veterans around their core, players with the savviness, mettle and experience to thrive during harrowing postseason moments.” “Thompson certainly fits that bill; his key role on four championship teams, combined with his still-exceptional distance shooting (he’s fourth all-time in three-pointers converted), made him the Heat’s first choice to fill out its perimeter rotation and help spread the floor around Giannis Antetokounmpo and Bam Adebayo,” wrote Barry Jackson of the Miami Herald. “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 is expected to wear the No. 11 jersey with the Heat, which was last worn by Jaime Jaquez Jr. And while the 36-year-old is coming off arguably the worst season of his career, the Heat are hoping he finds his old self to boost his and Miami’s championship hopes. Hence, he is expected to immediately break into the starting five. The Heat now have two spots left open in their roster after Thompson’s addition. They are expected to use the 14th spot on a power rotation player like Nick Richards and leave the 15th spot open for flexibility through the season. It will be fascinating to see how Thompson contributes to the Heat’s 2026-27 championship ambitions.