If you’re looking for a quick answer, here it is: Klay Thompson is currently playing for the Dallas Mavericks. But man, if you haven’t checked a box score in a while, the situation in Dallas is probably not what you expected. We aren't in San Francisco anymore. The jersey is different, the role is different, and honestly, the vibes are a bit of a rollercoaster right now.
It’s January 2026. Just a few hours ago, on January 17, Klay actually had one of those "vintage" nights that makes everyone remember why he’s a future Hall of Famer. He put up 23 points in only 20 minutes against the Utah Jazz. During that game, he hit a massive milestone, crossing 17,000 career points.
The Dallas Reality: It’s Not Just About the Splash
When Klay signed that three-year, $50 million deal back in 2024, everyone envisioned him as the third piece of a "Splash Triplets" situation with Luka Doncic and Kyrie Irving. Fast forward to today, and the roster looks like a fever dream.
Luka is in Los Angeles. Yeah, you read that right. The Mavs traded their cornerstone to the Lakers in a move that still feels fake when you type it out. Now, Klay is playing alongside the new face of the franchise, Cooper Flagg, and a supporting cast that includes Anthony Davis (who is currently dealing with a hand injury) and D'Angelo Russell.
It’s been a weird season for the Mavericks. They’re sitting at 17-26, hovering near the bottom of the Western Conference. Because of the team's struggles and the "youth movement" around Flagg, Klay isn’t even a full-time starter anymore. He’s transitioned into a high-level bench role, coming in to provide instant gravity and spacing.
What the numbers say right now
If you look at the 2025-26 season averages, Klay is basically a different player than the guy who was winning rings every other year.
- Scoring: He’s averaging about 12.0 points per game.
- Efficiency: His three-point shooting is still respectable at roughly 37% to 40% depending on the week, but the consistency is... let's just say it's "streaky."
- The Bench Factor: He’s only started 8 of his 39 appearances this season.
It's sorta wild to see a legend like Klay playing 22 minutes a night for a team that might miss the play-in tournament. But when he gets hot—like he did last Thursday when he dropped 26 points and six triples on Utah—it’s like a time machine. He actually just passed Damian Lillard for fourth all-time in career three-pointers.
The Trade Rumors: Will He Stay in Dallas?
Here is where things get spicy. We are officially in the "Trade Deadline SZN," and Klay’s name is everywhere.
The Mavericks are clearly rebuilding around Cooper Flagg. Klay is 35 years old and making roughly $16.6 million this season. He’s owed $17.4 million next year. For a team looking to get younger, that’s a lot of money tied up in a veteran who might not fit their 5-year plan.
There is serious chatter—reported by guys like Shams Charania and John Ireland—that Klay might not finish the season in Dallas.
- The Lakers Connection: With Luka and LeBron in LA, the rumors of Klay joining them via a buyout or trade are deafening. His dad, Mychal Thompson, has been vocal about wanting Klay in purple and gold for years.
- The Buyout Possibility: If the Mavs can't find a trade partner by the February 5 deadline, a buyout is on the table. Klay didn't sign up for a 12th-place rebuild.
- The Warriors Homecoming: Every now and then, a "Klay back to the Bay" rumor pops up, but that feels more like fan fiction than a front-office reality at this point.
What it feels like to watch him now
Honestly, watching Klay in 2026 is bittersweet. He still has that beautiful, effortless release. The "Klay-ps" (those moments where he hits three triples in 90 seconds) still happen. But the lateral quickness on defense isn't there anymore. He’s mostly playing small forward now, trying to use his size and IQ to make up for the lost step.
The Mavericks' offense is currently 27th in the league. It's clunky. Without a primary playmaker like Luka (Kyrie has been out, and Brandon Williams is currently running the point), Klay has to work way harder for his shots. He’s becoming more of a "playmaker" out of necessity, averaging nearly 1.5 assists—which doesn't sound like much, but for Klay, it shows he’s trying to adapt.
Is he still a fantasy basketball asset?
If you're asking "where is Klay Thompson playing" because you're looking at your fantasy roster, the answer is "tread carefully." He’s a specialist. If you need threes and free throw percentage, he’s great. If you need anything else, he’s probably hurting you. His value is entirely tied to whether Anthony Davis or Cooper Flagg are on the floor to draw the defense away from him.
Where to see him next
The Mavericks head to Madison Square Garden to play the Knicks on Monday, January 19. That’ll be a big test. The New York crowd always gives Klay a hard time, and it'll be interesting to see if he can carry the momentum from his 23-point performance on Saturday.
If you want to keep up with his status, you need to watch the Dallas injury reports closely. He’s been managing a nagging left knee issue all December and early January. He sat out against Denver on December 23 for rest/injury management, so back-to-backs are always a "maybe" for him these days.
Actionable Next Steps for Fans:
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- Track the Trade Deadline: Keep an eye on February 5. If the Mavericks continue to lose, expect Klay to be moved to a contender.
- Check the Lineups: Always check the Mavs' starting five about 30 minutes before tip-off. Since Jason Kidd moved him to the bench, his minutes can fluctuate wildly based on the matchup.
- Watch the All-Time List: He is currently 4th in all-time threes. He likely won't catch Steph Curry (obviously), but he’s in a tight race with the active leaders for that #2 and #3 spot over the next two seasons.
The "Splash Brother" era is over, but Klay Thompson is still a bucket. Even in a Dallas jersey, even coming off the bench, and even in the middle of a messy rebuild.