Leonard, 34, has one year left on his current deal and is set to make $50.3 million this upcoming season before becoming an unrestricted free agent (barring any extensions).
The Los Angeles native has spent the past seven years with the Clippers after a one-year championship run with the Toronto Raptors during the 2018-2019 season.
Leonard spent the first seven years of his career with the Spurs after the team selected him 15th overall in the 2011 draft. The seven-time All-Star and seven-time All-NBA lifted them to their fifth championship when they defeated the Miami Heat in four games in 2014.
Now, he'll be joining a Mavericks team that is far from being a contender. Dallas finished last season with a brutal 26-56 record, their worst since the 2017-2018 season. He'll be bringing over a career-high 27.9 points per game this past season to a Mavericks team that ranked 23rd in the same category.
As for Thompson, he'll be joining a third team in the past four years. The four-time champion with the Golden State Warriors posted a career-low 11.7 points per game and career-worst 39.3% in 68 games. Entering this past season, Thompson had never shot below 41%.
He'll be entering his 14th season and entering the final year of his current contract, set to make $17.4 million. The two-time All-NBA sharpshooter has seen brighter days as his career winds down as he now heads to the west coast and joins a Clippers team that missed the playoffs for just the second time in the past eight years.