Klay Thompson is expected to sign with the Miami Heat after clearing waivers following his contract buyout from the Dallas Mavericks, sources told ESPN's Shams Charanza on Friday.

Thompson, 36, was due to make $17.5 million in the final season of his contract with the Mavericks, who announced his buyout Friday afternoon. Thompson's buyout was initiated by him informing the Mavericks, who went 26-56 last season, that he wanted to play for a contender. The Heat made Thompson their top target after pulling off the blockbuster trade for Giannis Antetokounmpo.

Thompson played two seasons for the Mavericks, averaging 12.9 points per game and shooting 38.7% from 3-point range. He addresses Miami's need to add perimeter shooting as the Heat attempt to construct a contender around Antetokounmpo and Bam Adebayo.

"Klay is one of the great players and competitors of his generation, and we are grateful for everything he brought to the Mavericks organization," Mavericks president of basketball operations Masai Ujiri said in a statement.