Klay Thompson is eligible for a contract extension with the Golden State Warriors since his current deal expires in July 2024. The Warriors could implore a strategy similar to what they did with Draymond Green throughout the past year. This involves waiting until Thompson’s current contract expires and working out a new contract when 2024 free agency begins.
An extension guarantees Thompson contract security now instead of waiting until free agency. However, not signing an extension allows Thompson to get more money with more guaranteed years in 2024. It’s ultimately up to Warriors’ ownership what they believe is best going forward. Extension or not, Thompson should be a Warrior for life when it’s all said and done.
Thompson’s Contract Value
In April 2023 it was reported by Adrian Wojnarowski that Thompson expected to get a max contract extension this offseason. This extension has not been offered nor has one seemingly been discussed. Warriors’ owner Joe Lacob recently stated that he is confident Thompson will be with the Warriors beyond next season. Lacob confirmed that he’s had minor talks with Thompson’s agent, but nothing substantial has been discussed.
Additionally, Thompson himself never confirmed the reports by Wojnarowski at the time. It’s clear that Thompson wants to be a Warrior for life, but at what cost? If Thompson wants a max contract, it would be tough for ownership to make that work with the Warriors’ expensive financial situation. This is ultimately why the Warriors might wait until next year’s free agency to get a deal done.
The 2024 offseason will give ownership a clearer idea of what they’re willing to spend. It also allows Thompson to see how he’ll perform in his second full healthy season coming off his two major injuries. Thompson’s 2024 performance may be the deciding factor in his contract value.
Can Thompson Return to His All-Star Status?
If any NBA star can bounce back from injuries, it’s Klay Thompson. Most athletes might retire after tearing both their ACL and Achilles, but not Thompson. He worked tirelessly to get back on the court, and he’s looked much like his 2019 self in many ways. Thompson’s bounce never seemed to have faded as he had a poster dunk in his first game back in nearly two-and-a-half years.
He also made 301 3-pointers last season, much surpassing his previous record of 276 in the 2016 season. Thompson did have stretches where he struggled to make shots, especially in the 2023 playoffs. However, his overall production of 21.9 points per game (PPG) was the third-highest of his career. Thompson also averaged a career-high in rebounds at 4.1 and kept near his usual 3-point percentage at 41.2 percent.
That said, Thompson should be able to make at least one or two more all-star appearances in his career. He had career highs (and near career highs) in almost every major statistical category. This is coming off two series of injuries and over two-and-a-half years of lost court time. Thompson is arguably back in all-star form and should make an all-star game next season depending on the Warriors’ regular season record.
2023 Contract Extension or 2024 Free Agency?
Considering Thompson’s production last season and the Warriors’ current financial situation, it seems more likely that he’ll get a new contract in 2024 free agency. Warriors’ owner Lacob stated that contract talks with Thompson are only in its earliest stages. Discussions could take weeks, months, or even until 2024 free agency, but only time will tell.
It wouldn’t be shocking though if Thompson and his agent negotiated a deal now so they could line up his contract with Stephen Curry and Draymond Green. Either way, Thompson is likely a Warrior for life, so it’s just a matter of when he’ll sign a new deal. Regardless Thompson is set up for an amazing 2024 campaign, and he’s looking to win his fifth NBA championship this upcoming season.
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Featured photo courtesy of NBA.com.