Golden State Warriors icon Stephen Curry has signed a two-year, $116 million contract extension.
This ensures the franchise icon stays with the only team he has ever played for throughout his 20th NBA season, according to ESPN’s Shams Charania.
This new agreement has a player option for the last year (2028-29), per sources.
Reason Behind Curry’s $20M Sacrifice
Warrriors had offered Curry multiple contract options in recent weeks, which included sitting tight, but the point guard chose a reduced paycheck and security over either signing for a max contract or delaying further to gather more info, sources said.
Curry is currently on a one-year, $62.6 million deal and became eligible Aug. 29 to extend for up to two years and $136.7 million.
Among the scenarios presented by the Warriors in their negotiations with Curry were those involving the possibility of a minor pay cut off his max, allowing them to have additional salary-cap space to construct a competitive team around him in the future, sources indicated.
Curry’s contract is going to reduce from $62.6 million next year to $55.7 million in the 2027-28 season and $60.2 million as a player option in the 2028-29 season. This is expected to add about $10 million to the cap space the Warriors could have in the upcoming offseason, and thus, increase their chances in free agency or trades in the next 12 months.
At present, the expiring contracts of Jimmy Butler III ($56.8 million) and Draymond Green ($27.6 million) are set to come off the books for the Warriors next offseason.
The veteran center Kristaps Porzingis still holds only $3 million of the $20 million salary guarantee, which would mean that the Warriors have somewhere between $38 million and $55 million in the cap space next offseason based on how they approach the extension eligibility of Brandin Podziemski, as per ESPN’s Bobby Marks. Podziemski, who hasn’t yet signed an extension, holds $17 million cap hold next offseason.
20 Years, One Franchise
It took Curry almost a month to make up his mind whether he wanted to take his full max, take a small cut or wait to come to a mutual agreement.
“We’re in a very interesting situation,” Curry told ESPN earlier this week. “All the different salary cap conditions of whether I sign for a max or less or whatever it is, I want to be on a competitive team. I want to have an opportunity to have some flexibility because we haven’t had that in years past, the recent past. … This team should have flexibility to make necessary moves if things happen. Those are always just the considerations.
“For me, information and patience is key. It’s just a very unique situation all the way around based on where we’ve been the last four years, where I’m at in my career, what our team looks like this year and the absolute desperation to win. Trying to balance all that.”
