Entering the final year of his contract, it looks clear that Klay Thompson will not be signing an extension with the Golden State Warriors this summer. All indications point to the 33-year-old heading into free agency.
Klay Thompson and Warriors at Contract Stalemate
Reporting on @RunItBackFDTV: There's a significant gap in extension negotiations for Golden State and Klay Thompson, league sources say, as current signs point to the four-time champion going into 2024 free agency. pic.twitter.com/0U0wSXo0hR
— Shams Charania (@ShamsCharania) October 23, 2023
The Discrepancy
Shams Charania of The Athletic reported Monday morning that Thompson and Golden State are far apart on talks for a contract extension. Thompson signed a five-year, $189.9 million contract after tearing his ACL during the 2019 Finals, tying him to the Warriors through this upcoming season.
Reports say that Thompson and the Warriors front office are far apart in the contract’s length and money. Thompson, who led the NBA in threes made last season (301, is obviously looking for a longer deal with seemingly max money. The Warriors are likely looking for a shorter commitment involving less money.
Mutual Interest
Both Golden State and Thompson have made one thing clear: they want to reach an agreement. Thompson is one of the greatest players in the franchise’s history, and it would be hard for both sides to see him go elsewhere.
“I wouldn’t want to go anywhere else,” Thompson told The Athletic. “To play for one franchise, man? That’s so rare. I’ve just been so lucky to be a part of this franchise. It’d be hard to envision myself in another uniform.”
While both sides want to remain together, they still have to hash out the details of the contract. One side will likely have to give in a bit, but we’ve seen Golden State handle this before with Draymond Green. Green went into last season without a new deal, had a solid season, and came back to negotiate with the Warriors, getting the length and value he wanted in his contract.
Klay Thompson earlier this month: “If I just do my job, I’m in shape and I compete at my highest level, I’m going to make money in this league for a long time. So I don’t worry about it…I’m not going to let that get in the way of winning a championship.”https://t.co/qMJlv7dJVZ
— Anthony Slater (@anthonyVslater) October 23, 2023
The Warriors’ New Handcuff
The new CBA significantly hinders what high-payroll teams want to do in terms of acquiring talent. With Stephen Curry, Andrew Wiggins, Chris Paul and Green already under contract for 2024-25, Thompson would have to be the one to sacrifice a bit.
Should the Warriors exceed the second apron of the new agreement, they’d no longer have access to the $5 million taxpayer midlevel exception. This goes on top of the penalties for exceeding the first apron, such as hindrances to sign-and-trades and salary matching in trades.
Golden State has expressed a desire to remain under that second apron, which means they may be in trouble. The expected payroll for next season is already just over $170 million. The second apron this season is set at $182.5 million. Obviously, the apron will increase with the salary cap, giving the Warriors more room, but it’s unlikely that Thompson will get the money he’s looking for.
Free Agency
As previously mentioned, The Warriors find themselves repeating the same situation they were in with Green. The two sides didn’t come together last summer for an extension but agreed to a new deal in the early hours of free agency.
Thomspon wants to be with Golden State. He’s committed to the team’s core and wants to remain a part of it. That said, anything can happen once a guy hits free agency.
If Thompson hits the open market, other teams could certainly persuade him with a large contract. There’s no deadline for an extension, so the two sides can negotiate throughout the season. There’s no telling what could happen if they remain far apart on the terms, and Thompson’s legendary days as a Warrior could be numbered.
