Contract talks between the Warriors and Klay Thompson are “essentially frozen,” according to Anthony Slater of The Athletic, who reports that Thompson’s departure from Golden State feels more plausible than ever.
There’s no offer currently on the table for Thompson, and no productive talks have taken place recently between the Warriors and the veteran’s representatives, Slater writes, explaining that the team has been focused on other offseason issues, including the possibility of finding a trade involving Chris Paul‘s expiring contract.
Paul’s $30MM salary for 2024/25 is non-guaranteed but could be partially or fully guaranteed if Golden State wants to use it as a salary-matching piece. Guaranteeing it for 50%, for example, would allow it to count as $15MM in outgoing salary in a trade. League sources tell The Athletic that there have been discussions with Paul about the possibility of moving his guarantee date from June 28 to July, which could push back potential resolution with Thompson even further.
As Slater observes, if the Warriors are able to acquire an impact, high-salary player in a deal involving Paul, it would affect what they might be willing to offer Thompson, since they’d like to move below the second tax apron this offseason, or perhaps even out of the tax altogether.
Here’s more from Slater:
- One factor the Warriors are weighing in their approach to contract talks with Thompson is a belief that his free agent market may not be robust as expected. According to Slater, there has been chatter that teams may prefer shorter-term contracts for veteran free agents this summer, so Golden State may not have to top a big, longer-term bid from a rival suitor. There hasn’t been any traction between the Magic and Thompson, despite some reported mutual interest, sources tell Slater.
- Still, even if Thompson’s price comes in lower than anticipated, that doesn’t mean he’ll end up back with the Warriors. It’s “increasingly conceivable” that the five-time All-Star and four-time champion could seek a fresh start elsewhere, per Slater, who cites some “built-up friction” from the past couple seasons.
- While Kevon Looney has been viewed as a possible candidate to be released due to the structure of his contract (only $3MM of his $8MM salary is guaranteed), that’s not the Warriors’ plan right now, Slater reports. Looney’s contract will become fully guaranteed if he remains under contract through Monday, and there’s no indication at this point that he’ll be waived before then. However, that doesn’t necessarily mean he’ll remain in Golden State, since his expiring contract could be useful in a trade, Slater adds.
- As Slater explains, waiving Looney and replacing him with a minimum-salary center wouldn’t create significant cap or tax savings, and cutting him to try to re-sign him on a minimum deal isn’t an option being seriously considered, since he might get a more lucrative offer from another team in that scenario. According to Slater, the big man is still one of head coach Steve Kerr‘s favorite players and his voice is valued in the locker room.