Klay Thompson's future with the Golden State Warriors has been a huge question mark throughout the whole offseason. He is entering the final year of the $189.9 million deal he signed in 2019 and will become an unrestricted free agent after the 2023-24 season. While there's little doubt that Thompson will actually leave, the lack of updates on his contract extension has created a lot of buzz around NBA circles.

Apparently, however, Thompson and his camp have been in conversation with the Warriors for a potential extension. Both sides are not rushing to get into a deal, though, especially with Thompson coming off a rather inconsistent season. The other half of the Splash Bros. knows very well he can become more valuable and land a better contract if he plays well in the 2023-24 season, per Ramona Shelburne of ESPN.

“My understanding is that they have opened contract extension talks with Klay Thompson. This is a slow process. This idea that he's been eligible for awhile and they haven't done anything… no, they've started talking. They've exchanged proposals. There's no hurry to these discussions. The optionality goes both ways. Not necessarily he's trying to leave, but just the optionality that he didn't have a great year last year. It behooves him to have a great year this year and he's becomes more valuable if he does,” Shelburne explained on the Lowe Post podcast, via RealGM.

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For what it's worth, Warriors owner Joe Lacob confirmed recently that there have been talks between the Dubs and Klay Thompson's agent on a possible extension, though he said that it's still at the “very early” stages. Lacob did emphasize that they want to bring Thompson back, adding that he expects to have “substantial discussions” with his camp in the near future.

“I do,” Lacob said when asked if he expects Thompson to re-sign with the Dubs. “Look, we've had some very brief discussions at this point with his agent, but they're very, very early. I think we're all still adjusting to figuring out what our financial situation is, our cap space situation.”

He added, “They're going to, from the players' side, logically have to attest to what the free agent market might be because they've earned the right to be free agents if they've played out their contracts. And they have to look and see what options they might have. So I think there's a little bit of that going on at this point, but I fully expect we will have some substantial discussions soon. And we'll see if we can put something together that allows Klay to be here for a long time, which we clearly would like him to be.”

At this point, perhaps the only question left is what contract will Thompson get from the Warriors. Considering the amount of money they have locked on Stephen Curry and Draymond Green, it will surely be interesting to see how the Dubs will  navigate their cap space.

What Klay Thompson's contract could look like

While no figures have surfaced with regards to what Klay Thompson's contract could look like and how much the Warriors are willing to offer him, Shelburne did mention the possibility of the sharpshooter landing a deal with similar length to the one that Draymond Green signed.

Green inked a four-year, $100 million deal this offseason to stay with the Dubs long-term. However, Shelburne has no idea when it comes to the amount that Klay could get, only noting that the Dubs “feel very strongly” about keeping him in the fold alongside Stephen Curry and Green.

“They are definitely open to the idea of doing [an extension] because they've opened discussions with Klay Thompson. I think the years will probably be similar to what Draymond Green signed, which was a four-year deal. I think it will probably be similar. I don't know where they'll land on team option, player option. The money is going to be the question. And how that fits with the new CBA. The restriction that implies. I know that the Warriors feel very strongly about keeping Klay Thompson and Draymond Green alongside Steph Curry.”

For now, it's a matter of wait and see when it comes to Thompson's new contract. It doesn't look like both sides will be able to agree on a new deal before training camp or the new season begins. What's important, however, is that the Dubs have started to talk to Klay for his extension. Sure enough, they wouldn't want to make Thompson feel that he's not valued by delaying those talks.