Klay Thompson remains under contract with the Dallas Mavericks for the 2026-27 season at roughly $17.5 million, his final year on the three-year deal signed in 2024. The Mavericks have signaled preference for a trade that returns assets rather than a buyout, keeping his status fluid as training camp approaches. Miami has emerged with specific interest in acquiring the 36-year-old sharpshooter to bolster perimeter spacing alongside existing rotation pieces, while other clubs monitor the situation for potential free-agency access. Thompson’s recent bench role and consistent three-point volume continue to draw attention from contenders seeking veteran floor-spacing, yet no dominant destination has separated amid the competing trade and buyout paths. This range of plausible outcomes has kept implied probabilities tightly bunched across numerous teams.