Klay Thompson enters the 2026 offseason in the final year of his Mavericks contract, drawing interest primarily from the Miami Heat as a perimeter shooter amid their mid-level exception availability. Dallas has signaled a preference for a trade over a buyout to extract value from his $17.5 million expiring deal, leaving multiple suitors—including several Eastern and Western Conference teams—positioned for potential sign-and-trade or free-agent scenarios if a buyout materializes closer to training camp. This fluid situation, combined with Thompson's age-36 role as a veteran bench contributor rather than a starter, sustains the tight spread of implied probabilities across contenders and his current roster.