Klay Thompson Buyout Watch: Mavs Playing Hardball as Lakers, Heat Circle

Klay Thompson's future in Dallas is the latest offseason chess match, and the Mavericks aren't tipping their hand. According to reporting from Jake Fischer, the front office has been 'very resistant' to agreeing to a buyout with the veteran sharpshooter, who's entering the final year of the three-year, $51 million deal he signed after leaving Golden State in 2024.

The reason for the stall is simple leverage. Dallas sees a market forming — the Lakers and Heat are both interested, with other teams reportedly lurking — and they'd rather squeeze value than hand Thompson away for free. It's the classic buyout dance: the team pretends it won't cut a player while the interest in that player only exists if he's actually cut.

The Lakers angle is the fun one. Thompson nearly signed with L.A. alongside LeBron James before joining the Mavericks to pair with Luka Doncic — and Doncic now plays for, you guessed it, the Lakers. The connective tissue is obvious. The problem is the Lakers are already jammed against their roster limits and would likely only offer Thompson a bench role rather than guaranteed minutes.

Miami reads as the more appealing destination if Thompson wants to actually play. The Heat could hand him a bigger role than a crowded L.A. rotation, which makes this partly a basketball decision and partly a lifestyle one about how badly he wants to be back in Los Angeles.

The Fantasy Fallout

Here's the sobering part for managers: Thompson posted just 11.7 points, 2.1 rebounds and 1.4 assists across 69 games in 2025-26 (actual), good for 17.8 fantasy points per game. That checks in at #245 overall and #111 at his position in our rankings — barely rosterable in standard leagues even before you factor in a possible role reduction.

If he lands in L.A., a bench spot behind a loaded rotation makes him a fantasy afterthought. Miami is the only outcome that could nudge his value up, and even that's a maybe. For now this is pure WATCH territory — don't burn a roster spot on a 34-year-old whose destination, minutes and shooting volume are all still unknown. Revisit only once the buyout is official and you can see the depth chart he's walking into.