How the Golden State Warriors will finish up the 2023-24 NBA season is a major question mark, especially after Stephen Curry's ankle injury. What happens with this franchise in the offseason is an even bigger mystery largely due to Klay Thompson's uncertain future. Thompson currently finds himself in the final year of his contract, with free agency right around the corner. As a result of his lesser role and productivity declining, there are serious doubts about what the future holds for the four-time champion.
For years, the one constant surrounding the Warriors was that Stephen Curry, Draymond Green, and Thompson were all going to go out together. These three, along with head coach Steve Kerr, are always going to remain with the Warriors for the remainder of their careers, right?
The thing about the NBA that makes it so unique is that organizations are always focused on the future. This is why ideas and mindsets surrounding franchises are constantly changing. Although the Warriors would like to keep Thompson until he is ready to call it quits, the decline that has occurred as a result of his major ACL and Achilles injuries has put Golden State in a tough spot.
Already owning an insanely high tax bill and facing scenarios where they may have to deal with the second tax apron next season, Thompson's contract situation puts the Warriors in a very awkward spot ahead of his pending free agency.
What Klay's next contract could look like
Curry currently has two more years left on his contract past the 2023-24 season and is set to make over $115 million through the 2025-26 season. Kerr recently received a contract extension from the Warriors that will pay him $35 million through the 2025-26 season. Green signed a four-year, $100 million deal with Golden State in free agency last season, keeping him with the Warriors through the 2025-26 season since he owns a $27.6 million player option for the final year of his deal.
It has become very clear that Warriors management is lining up all of the contracts of their core group together. With Thompson set to become a free agent this upcoming summer, it shouldn't come as a shock to see them offer him deals in the same two-year range that Kerr recently got on his extension.
What the monetary value of this deal looks like is a whole separate discussion, one that differs in opinion based on who you ask. A total of eight NBA executives were asked by HoopsHype's Michael Scotto what they believed Thompson's next contract would look like, regardless if he stays with the Warriors or not. Three of these executives believed a range of $18 million to $20 million was fair for Thompson's overall value. The others argued that his next deal will be in the $20 million to $25 million range, similar to what Green got from Golden State last offseason.
No matter what the value of Thompson's next deal is, the Warriors are going to find themselves in yet another financial pickle. If they were to give Klay a new deal that paid him roughly $20 million for the 2024-25 season, then this new deal, combined with those of Curry and Green, would equate to just under $100 million in total. Throw Andrew Wiggins' $28.2 million contract into the fold for next season, and now the Warriors are already flirting with being arguably the league's highest taxpaying team yet again.
Of course, contract negotiations for Thompson don't come down to whether or not the Warriors want to keep him. They simply come down to whether Thompson wants to remain with Golden State on a smaller deal, especially since this is his last chance to truly cash in during free agency and there is interest from other organizations.
Will Klay Thompson put a higher emphasis on his legacy or his value? This is the biggest unknown in the NBA right now.
Thompson's mindset amid new role
When the Warriors and Kerr first decided to move Thompson to his new bench role, the five-time All-Star did not take this news lightly. After taking time to digest the change and discussing it with the coaching staff, Klay welcomed this new challenge in his career, citing Hall of Famer Manu Ginobili as inspiration for coming off the bench.
Golden State remains confident that Thompson won't leave in the offseason and that they will be able to come to terms on a new contract. This seems to be the mindset of many around the league as well. The Warriors as a whole have no intentions of seeing Klay leave in the summer, and big man Kevon Looney recently spoke with HoopsHype about the notion of keeping the core of this team together.
“We know we want Klay to be here forever,” Looney told Scotto. “He’s a Warrior for life no matter what. Even if he did go somewhere, he’s still going to be a guy that has a statue and jersey in the rafters. We really don’t talk about it. We know how much pressure it is to play in a contract year when there are ups and downs. You feel that heat. I think he’s handled it great, especially with the lineup change.
“He knows how much he means to this organization, this team, this city, and the Bay Area. Hopefully, he gets to stay forever.”
Thompson has been on record multiple times stating that he would like to finish his career with the Warriors. This is no secret at this point, which leads many to believe he will return during free agency. However, whether or not this new bench role will influence his decision making is yet to be seen.
At 34 years old and in the midst of the worst statistical season of his career since his second season in the league, Thompson knows he has entered a new phase of his career. No matter how many years he has left, Klay is only focused on what he can control and making his team as great as they can be.
“I’m all about winning. Our franchise has been like that since I’ve been here,” Thompson told HoopsHype. “Andre Iguodala made the same sacrifice. He came around and got Finals MVP. I’m not saying I’m going to do that this season. I’m still playing 25-30 minutes a night, and especially 13 years in and after the injuries I overcame, it’s still an incredible accomplishment and still being a heck of a player out there. I’m scoring at all three levels, playing defense, and having fun.”
Time will tell if the Warriors will keep their band featuring Curry, Green, and Thompson together.
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