Deal terminated: Dallas Mavericks have just backed out of a deal with Klay Thompson for a 3-year, $50 million contract after…

Free agent and four-time NBA champion Klay Thompson is taking less money to join the Dallas Mavericks. According to ESPN’s Adrian Wojnarowski, Thompson agreed to a three-year, $50 million deal with Dallas on Monday.

Thompson had offers from other teams for four-year contracts and more money, but the five-time All-Star opted to join the Mavericks, aiming for his fifth championship. Texas’ lack of state income tax also played a role in Thompson’s decision. The Los Angeles Lakers were also pursuing Thompson in free agency.

Thompson and his agent, Greg Lawrence of Wasserman Basketball, met with Mavericks representatives, including general manager Nico Harrison and vice president of basketball operations Michael Finley, at the Bottle Inn in Hermosa Beach, California, on Sunday night. The meeting helped sway Thompson.

Marc Stein reports that Kyrie Irving also played a part in influencing Thompson. Irving and Thompson are former teammates on Team USA, and Irving joined the Mavericks’ efforts to recruit Thompson to counter the Lakers’ offer and LeBron James’ influence.

Thompson, 34, will join the Mavericks in a multi-team trade involving the Golden State Warriors and the Charlotte Hornets. While the teams are still finalizing the details of the trade, Dallas will send veteran forward Josh Green to Charlotte in exchange for two second-round draft picks, according to Jake Fischer of Yahoo Sports. The specifics of what the Warriors will receive in the deal have yet to be resolved.

Thompson’s addition comes less than 24 hours after the Mavericks signed forward Naji Marshall to a three-year, $27 million contract, a move aimed at offsetting the departure of forward Derrick Jones Jr. Marshall’s signing initially pushed Dallas to the luxury tax apron, but by trading Green, the Mavericks remain below it, as reported by ESPN’s Bobby Marks.