We’ve known for days that this was coming, but we had to wait 48 hours for Klay Thompson to officially clear waivers before the process could take the next step.
That happened Sunday, Thompson cleared waivers from his buyout with Dallas and has quickly agreed to a two-year, $11.5 million contract with the Heat, according to multiple reports. The Heat have confirmed the signing.
Thompson clearing waivers was not in question, no team was picking up his $17.5 million contract for this season. In his buyout with Dallas, Thompson reportedly gave up $9.5 million.
He’s making that back and more in Miami with his new two-year deal, and Thompson gets to play for a team with championship aspirations, which is what he wanted.
Thompson likely will be a starter for Miami, a team that cannot have enough shooting around Giannis Antetokounmpo and Bam Adebayo. Last season, Thompson averaged a career-low 11.7 points a game (in reduced minutes, just more than 21 a night), but did shoot 38.3% from 3-point range (7.6 attempts per game). Thompson likely splits time with Pelle Larsson, but don’t be shocked if Larsson closes games because he is a better defender at this point in their careers.
After signing Thompson, Miami has two open roster spots and is about $4.7 million below the first apron, where the team is hard-capped (because of the Antetokounmpo trade). The Heat will likely fill one of those two roster spots with a minimum player and leave the other one open. Free agent center Nick Richards has been working out in Miami and could be the guy who gets signed.
Miami has completely remade its roster this offseason, adding Antetokounmpo and now Thompson, along with Tim Hardaway Jr. and Bobby Portis.
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