Klay Thompson trade rumors continue to swirl around the Dallas Mavericks. They are still exploring a trade involving Thompson, but no deal has materialized. The Miami Heat, Golden State Warriors, and Los Angeles Lakers are potential landing spots for him, according to ClutchPoints NBA Insider Brett Siegel.

Thompson is on an expiring contract worth $17.5 million and will become an unrestricted free agent in 2027. He averaged 11.7 points per game while shooting 39.3% from the field, 2.1 rebounds per game, 1.4 assists per game, 0.5 steals per game, and 0.3 blocks per game.

Klay Thompson Trade Rumors: Why The Heat’s Thompson Pursuit Hinges On One Untouchable Asset

Klay Thompson trade rumors
Nov 24, 2025; Miami, Florida, USA; Dallas Mavericks guard Klay Thompson (31) and Miami Heat center Bam Adebayo (13) battle for a loose ball during the second half at Kaseya Center. Mandatory Credit: Jim Rassol-Imagn Images

According to Siegel, the Heat are reportedly the most motivated team pursuing a trade for Thompson from the Mavericks. He is looking to join a championship contender, but negotiations have reportedly hit a roadblock as they remain unwilling to include Nikola Jović in a potential deal.

The Heat are also hard-capped at the first apron and have roughly $10.4 million in flexibility available. They also need to add more shooting around Giannis Antetokounmpo and Bam Adebayo to compete with the upper-tier teams in the Eastern Conference. 

Miami’s hypothetical starting lineup could include Klay, Davion Mitchell, Andrew Wiggins, Antetokounmpo, and Adebayo. Thompson would likely slot in as Miami’s starting shooting guard. They have also shown a willingness to add experienced veterans who can contribute immediately.

Klay Thompson Trade Rumors: Why The Warriors Are Ready To Bring Klay Home

Klay Thompson trade rumors
Dec 25, 2025; San Francisco, California, USA; Golden State Warriors guard Stephen Curry (30) defends against Dallas Mavericks guard Klay Thompson (31) during the third quarter at Chase Center. Mandatory Credit: Darren Yamashita-Imagn Images

According to Siegel, Golden State also has interest in bringing Thompson back if he reaches free agency. A reunion with Stephen Curry and Draymond Green under head coach Steve Kerr cannot be ruled out.

Thompson was also named to two All-NBA Third Teams and one All-Defensive Team, and he ranks third in NBA history in three-pointers made. During his 11 seasons with Golden State, he averaged 19.6 points per game while shooting 45% from the field, 41% from three-point range and 86% from the free-throw line.

Klay Thompson Trade Rumors: Why His Father’s Recruitment And Kobe Legacy Could Force A Shocking LA Return

Klay Thompson trade rumors
Nov 28, 2025; Los Angeles, California, USA; Los Angeles Lakers guard Luka Doncic (77) is defended by Dallas Mavericks guard Klay Thompson (31) as he drives to the basket in the first half at Crypto.com Arena. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images

Thompson would welcome a return to Los Angeles, as he owns a home there and grew up in the area. The Lakers, however, are hard-capped at the first apron and only have $8.1 million available.

The shooting fit next to Luka Doncic is obvious, and a minimum-salary deal would make the move even more appealing for Los Angeles. He picked Dallas over the Lakers in 2024 mainly because he wanted to play with Doncic. 

Mychal Thompson is his father, and he is trying to recruit him to LA. He used to play for the Lakers and was a broadcaster as well, calling their games. Klay grew up supporting them, and his basketball idol was Kobe Bryant.

End Of My Klay Thompson Trade Rumors Rant 

Klay Thompson trade rumors
Apr 3, 2026; Dallas, Texas, USA; Dallas Mavericks guard Klay Thompson (31) brings the ball up court during the game between the Mavericks and the Magic at American Airlines Center. Mandatory Credit: Jerome Miron-Imagn Images

Dallas’ new president of basketball operations, Masai Ujiri, has not indicated any desire to break up the main pieces of the roster. He’s waiting to first see what it looks like with Cooper Flagg and Kyrie Irving on the court together. At 36 years old, Thompson may not be viewed as an essential part of the Mavericks’ long-term core.

Even if a deal doesn’t happen before the regular season, it wouldn’t be surprising to see Thompson moved before the February trade deadline. He has largely become a role player at this stage of his career, but he remains a dangerous three-point shooter, making 38.3% of his attempts from beyond the arc on 7.6 attempts per game last season.