NBA Wrap — Week Ending Sunday 23 August 2026 · Klay Thompson to the Miami Heat via Dallas buyout. DeMar DeRozan to Denver. Peyton Watson traded to Cleveland in five-team deal. The offseason continues to reshape rosters as training camps approach.
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A week that saw two future Hall of Famers find new homes. Klay Thompson — four-time NBA champion, five-time All-Star — was bought out by Dallas and signed with the Miami Heat. DeMar DeRozan agreed to a one-year deal with the Denver Nuggets. Peyton Watson was moved to Cleveland in a five-team sign-and-trade. The 2026-27 season is nine weeks away and the roster picture continues to fill in.
Klay Thompson to Miami Heat
The story of the week. Klay Thompson — waived by the Dallas Mavericks via buyout on 21 August — signed a two-year, $13 million contract with the Miami Heat the same day. It’s a career-late move for the four-time NBA champion, five-time All-Star, and one of the greatest three-point shooters in NBA history. Thompson joins a Heat roster that also acquired Giannis Antetokounmpo earlier in the offseason. Miami’s roster is now genuinely stacked.
At 36 years old and coming off a difficult final season in Dallas, Thompson isn’t the player he was in Golden State’s dynasty years. But as a rotation piece with championship experience and elite spacing, he adds another proven veteran to Erik Spoelstra’s group. The Miami Heat now look like one of the deepest teams in the East.
DeMar DeRozan to Denver Nuggets
DeMar DeRozan agreed to a one-year, $3.88 million contract with the Denver Nuggets on 21 August. The six-time All-Star and one of the NBA’s premier mid-range scorers accepts a significant pay cut and, presumably, a role change. DeRozan has started every game he’s played since his rookie year — 1,250 games and counting including playoffs — so a bench role in Denver would be a career-first.
For Denver, this is the kind of veteran-scoring depth their bench has needed. Coming off the Peyton Watson sign-and-trade earlier in the week, Denver’s bench had been depleted. DeRozan doesn’t replace Watson’s defence or age, but he brings scoring reliability that few benches can match.
The Peyton Watson five-team sign-and-trade
The technicalities matter here. Peyton Watson was moved from Denver to Cleveland in a five-team sign-and-trade. The move brought Cleveland a young, athletic wing at exactly the age (23) where they can pair him with the core signed to long-term contracts (Donovan Mitchell’s $273M extension anchored their commitment to contending). Watson is best on defence and shot 3-pointers reliably last season — a genuine fit alongside Cleveland’s existing rotation.
Around the league — the other moves this week
- Kentavious Caldwell-Pope signed a one-year, $3.88 million contract with the Philadelphia 76ers on 5 August — adding another veteran to LeBron’s new team.
- Naji Marshall signed a three-year, $51.86 million extension with the Dallas Mavericks on 2 August.
- Various veteran fringe signings as teams finalise their rosters ahead of training camps opening in October.
Storylines to watch
The Miami Heat’s ceiling. Giannis, Bam Adebayo, Klay Thompson — this roster now looks capable of a Finals run. Erik Spoelstra’s system with these pieces is one of the offseason’s most anticipated combinations.
Extension season. Remaining extension candidates including Anthony Edwards, Karl-Anthony Towns, Tyrese Haliburton and Nikola Jokić continue to weigh their options. Any of these signings would reshape the league’s financial landscape.
Restricted free agency winding down. A handful of RFA situations remain unresolved as teams push toward training camp.
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Looking ahead
The 2026-27 NBA regular season tips off in late October — nine weeks away. Training camps open in early October. For Australian fans, mark the 2026-27 NBA Finals in your calendar: expected around Thursday 3 June 2027 at 10:30am AEST — the same Australian-friendly window that made the 2025-26 Knicks Finals such a strong local viewing event.
What’s next?
- Live US Sports TV Guide
- Previous NBA Wrap — 16 August 2026
- LeBron to 76ers — full update
- 2025-26 Season Retrospective — Knicks Champions
- How to Watch NBA in Australia 2026
All information accurate as of Sunday 24 August 2026 US time. All times AEST. Mac Johannson covers US sports for Australian fans.
