Heat sign Ethan Thompson

Aug 14, 2025 8:15 PM

The Miami Heat have added guard Ethan Thompson to their roster on an Exhibit 10 contract, according to Ira Winderman of The Sun Sentinel.

Thompson, who has yet to make his NBA regular season debut, has already inked five NBA contracts since going undrafted out of Oregon State in 2021. Most recently, he spent over two months of the 2024-25 season on a two-way contract with the Orlando Magic.

A seasoned G League player, the 6-foot-5 shooting guard has appeared in 43 to 49 games per season over the last four campaigns, representing teams such as the Windy City Bulls, Mexico City Capitanes, and Osceola Magic.

During 47 games with Orlando’s G League affiliate last season, Thompson averaged 17.8 points, 4.7 rebounds, 3.0 assists, and 1.1 steals across 33.4 minutes per game, while shooting .415 from the field, .396 from three-point range, and .805 from the free-throw line.

He also set a personal best by sinking 3.3 three-pointers per game. Exhibit 10 contracts allow teams to convert the deal into a two-way contract before the season starts, and the Heat currently have an available two-way slot.

Still, it seems the organization may be looking to place Thompson with their G League affiliate, the Sioux Falls Skyforce, as a returning rights player. In fact, the Skyforce recently completed a trade with Osceola to acquire Thompson’s rights (via Twitter).

If the Heat waive Thompson before the NBA regular season and he then spends at least 60 days with Sioux Falls, he would receive an Exhibit 10 bonus of up to $85,300 in addition to his standard G League salary.

Miami’s roster now officially includes 17 players: 14 on fully or partially guaranteed standard contracts, one on an Exhibit 10 deal, and two on two-way contracts. The team also retains a qualifying offer for restricted free agent Dru Smith.