Klay Thompson's future with the Dallas Mavericks remains uncertain, but the veteran sharpshooter is not currently working toward a buyout with the franchise.
According to Brett Siegel of ClutchPoints, Thompson and the Mavericks have not held active discussions about terminating his contract despite growing speculation over a possible departure.
"Amid speculation and people asking, Klay Thompson and the Mavs are not currently negotiating a buyout," Siegel reported.
Dallas, however, remains open to trading the five-time NBA All-Star.
Mavericks continue to explore trade options
The latest update is consistent with Dallas' approach throughout the offseason, as the Mavericks have been looking into Thompson's trade market rather than prioritizing a buyout.
Thompson is entering the final season of his contract and is set to earn approximately $17.5 million before becoming an unrestricted free agent in 2027.
That expiring salary could make the 36-year-old easier to move as Dallas continues reshaping its roster around its younger core.
Thompson is coming off a diminished role during the 2025-26 season. He averaged 11.7 points, 2.1 rebounds and 1.4 assists while shooting 38.3% from 3-point range, appearing in 69 games but starting only eight of them.
Miami and Los Angeles mentioned as possibilities
The Miami Heat have been among the teams most frequently connected with Thompson this offseason.
Previous reports indicated that Miami had strong interest in the four-time NBA champion, while a potential framework involving Thompson and Heat forward Nikola Jovic has also surfaced. Dallas, however, has shown little interest in simply buying out Thompson and allowing him to choose his next team as a free agent.
A return to Los Angeles has also emerged as another possibility should Thompson leave Dallas.
Thompson, who was born in Los Angeles and has longstanding ties to Southern California, would reportedly be open to playing there.
The Lakers pursued him before he ultimately chose Dallas in free agency in 2024, although there is currently no indication of active trade negotiations between the Lakers and Mavericks.
For now, however, Thompson remains a Maverick, with Dallas seemingly focused on finding a trade before considering any alternative route to part ways with the veteran.