Stephen Curry has officially signed a contract extension with the Golden State Warriors, as announced by the team. The agreement is valued at $116 million over two years and is structured similarly to the extension Kawhi Leonard agreed to with the Toronto Raptors, including a player option for the 2028-29 season.
Warriors GM Mike Dunleavy expressed great enthusiasm about the deal, praising Curry as an unparalleled figure in professional sports who has been the heart and soul of the franchise. Dunleavy highlighted Curry’s legendary on-court performance, exceptional leadership, dedication, and significant community impact throughout his 17-year tenure.
This extension will bring Curry’s guaranteed NBA earnings to approximately $650 million, according to Spotrac, making him the highest-paid player in league history so far. This is notable given that Golden State’s dynasty was initially formed while Curry was under a much more team-friendly rookie contract worth just $44 million over four years, a deal that allowed the Warriors to build around him and acquire stars like Kevin Durant.
Despite being a lucrative contract, it actually represents a discount relative to what Curry could have earned. With the projected $176 million salary cap for the 2026-27 season, players with over 10 years of experience like Curry qualify for a max deal of about 35% of the cap, which would total roughly $128 million over two years. However, a player’s contract can’t be lower than 105% of the previous year’s salary, and since Curry already earns $62.6 million for 2026-27, he could have commanded nearly $137 million over two years. Yet, he accepted over $20 million less to help maintain the Warriors’ financial flexibility and assemble a championship-caliber roster late in his career.
In a recent ESPN interview, Curry said his contract negotiations took into account the Warriors’ need for roster flexibility. He emphasized his desire to remain competitive while allowing the team room to make necessary moves, balancing his career stage and the team’s aspirations with patience and consideration.
At age 38, Curry is entering his 18th NBA season, all with Golden State. Since their latest championship in 2022, the Warriors have only reached the playoffs twice in four years and have not advanced to the Western Conference Finals. With Curry’s future now secured, the team can turn its focus to rebuilding around him.
Implications for the Warriors
Before locking in Curry’s extension, there were scenarios in which Golden State might have had more than $100 million in cap space for the next offseason. Delaying the deal would have provided more flexibility to shape the roster via Curry’s final contract. With the extension in place, the Warriors currently have about $72 million in cap space before accounting for their first-round draft pick and re-signing their own free agents or players with partially guaranteed contracts.
This financial space enables Golden State to potentially pursue a top-tier free agent in 2027. Several star players entering free agency that summer include Nikola Jokic, Anthony Davis, Karl-Anthony Towns, Kevin Durant, and Kyrie Irving, though many are expected to re-sign with their current teams. Giannis Antetokounmpo is technically available via a player option but is currently aligned with Miami Heat.
The 35% max for 2027-28 is projected to be $61.6 million, keeping any prospective Warriors signing within reach. However, players like Jimmy Butler, Draymond Green, and Brandin Podziemski will also be free agents, meaning the Warriors will have to decide whom to retain while also weighing a valuable first-round draft pick that could be costly to keep.
Curry’s cap hit for 2027-28 is expected to be $55.7 million. His on-court performance justifies such a salary, but his physical health remains critical; last season, Curry missed nearly half the games due to a runner’s knee. If injuries persist, Golden State’s hopes for contention will diminish.
How the Warriors perform in the 2026-27 season will dictate how aggressively they go after free agents and whether they hold onto key players. One certainty is that Curry will remain a Warrior, with his contract now finalized as the team plans the final phase of his Hall of Fame career.
Fan Take: This contract extension is a monumental moment not just for the Warriors but for the NBA as a whole, as it secures one of basketball’s greatest icons for the twilight of his career. Keeping Curry with Golden State means fans can continue witnessing transcendent skill and leadership, while the team’s strategic roster moves will shape the league’s competitive landscape for years to come.
Source: www.cbssports.com
