The Warriors made Klay Thompson an offer for a two-year extension worth about $48 million before the regular season started, according to Shams Charania of The Athletic, who made the announcement today on FanDuel’s Run it Back program.
Thompson most likely declined that offer because, according to several reports at the time, the Warriors and he couldn’t agree on terms related to years or money. Although he is still eligible for extensions and could sign a new contract with Golden State before July 1st, when he becomes free agent, Charania and ESPN’s Adrian Wojnarowski have hinted that it’s very likely he will hit the open market the following summer.
Thompson is in the last year of a $190MM contract that will pay him $43.2 million in 2023–2024. Due to injuries to his knee and Achilles at the beginning of the contract, he missed two entire seasons and played in just 32 games during the regular season in 2021–2022.
Following a strong performance in ’22–23, Thompson’s stats have declined significantly in the first few months of this season. He is averaging 15.4 points per game on a.397/.343/.889 shooting clip, with about the same amount of assists (44) and turnovers (43). That scoring average is the lowest since his rookie season in 2011–12, and his field goal percentage, three-point percentage, and turnover rate are all career lows.
There has been speculation that Thompson’s slow start to the season is partly due to his contract situation. The veteran shooter has started every game in his 22 games this fall because head coach Steve Kerr has been patient with him. As we previously reported, Kerr did, however, keep Thompson and fellow struggling veteran Andrew Wiggins out of Tuesday’s closing lineup.
“This evening, I should have been benched. According to Anthony Slater of The Athletic, Thompson said following the game, “I played like crap.” “You are aware of your abilities if you have ever played basketball. You want to be competing everywhere you go. That is simply reality. Still, whatever. It takes place. I was worthy of being benched. I have not been playing well. After twenty games. I can’t seem to get into a good rhythm.
Although it was never going to be possible for Thompson to sign another long-term, max contract, Golden State committed to teammate Draymond Green, who is also 33, to a four-year, $100MM deal over the summer. In light of this, it’s conceivable that the five-time All-Star, who averaged 21.9 points per game and a.412 3PT% in his previous season, would consider a two-year, $48MM offer to be inadequate.
It’s difficult to imagine the Warriors increasing the length or financial compensation of their preseason offer to Thompson, though, unless he manages to turn things around this season and break out of his slump.
In any case, Thompson has stated that he “absolutely” wants to play for Golden State for the remainder of his career.
