What happened: The 36-year-old will join Giannis Antetokounmpo and Bam Adebayo for his 14th NBA season. The agreement follows a buyout of his $17.5 million expiring contract, ending a two-season run with Dallas.
Why it matters: Miami is adding a career 40.9% three-point shooter to space the floor around Antetokounmpo and Adebayo. Thompson also brings four championship seasons from his Golden State Warriors tenure.
By the numbers: Thompson averaged 11.7 points in 69 games last season, shooting 39.3% from the field and 38.3% from three. His 2,899 career three-pointers rank fourth in NBA history.
What to watch: Miami opens at home against the Minnesota Timberwolves on Oct. 21, then hosts the Mavericks on Oct. 26.