As the NBA offseason looms, the Golden State Warriors are finding themselves on the brink of a financial catastrophe — and this time, it’s not just about luxury tax bills. The once-dynastic franchise is staring down the barrel of a salary cap disaster that could cripple their flexibility and diminish their competitiveness in a rapidly evolving Western Conference.
At the heart of the issue is the immense financial commitment tied up in a handful of veteran stars. Between Stephen Curry, Draymond Green, and the recently acquired Jimmy Butler (hypothetically or reportedly), the Warriors are projected to have 90% of their salary cap committed to just those three players next season. That’s already an eye-watering figure — but it doesn’t stop there.
Golden State is also facing a pivotal decision regarding rising star Jonathan Kuminga. After a breakout season that hinted at his immense two-way potential, the 21-year-old forward is due for a contract extension. If the Warriors opt to secure Kuminga with a lucrative new deal — which many believe they should — that would push the team’s cap obligations to 106% of the projected cap, tied up in just four players.
This is more than just expensive — it’s restrictive.
The Second Apron Era Is Unforgiving
With the NBA’s new collective bargaining agreement enforcing stiffer penalties for teams crossing the so-called “second apron,” the Warriors are at risk of becoming handcuffed by their own payroll. The second apron is not just a financial line in the sand — it comes with competitive restrictions, including the loss of mid-level exceptions, limitations on trades, and curbed flexibility in building out the roster. For a team that once thrived on finding value through role players and veteran minimums, this is a dangerous place to be.
Golden State isn’t the first franchise to find itself here. The Boston Celtics, widely praised for their strategic vision, saw similar signs this past season. Faced with escalating cap constraints and the threat of long-term inflexibility, the Celtics made the tough choice to part ways with Jrue Holiday and Kristaps Porzingis, reshaping their supporting cast around cornerstone Jayson Tatum. It was bold, but necessary — and Boston reaped the benefits with sustained competitiveness and future cap clarity.
Is It Time for the Warriors to Make a Similar Move?
The Warriors’ current model — clinging to their dynastic core while trying to usher in a youth movement — has proven shaky. Injuries, age, and inconsistency have taken a toll. Despite flashes of brilliance, they’ve struggled to sustain the excellence that once made them a juggernaut. If they continue down the current path, they risk repeating the same season on loop: overpaid, underperforming, and unable to evolve.
Rethinking the core might not just be wise — it might be necessary.
Could the Warriors explore moving Draymond Green or even Jimmy Butler to relieve financial pressure? Would they entertain trade offers for Kuminga if they’re unwilling to commit max money to a still-developing player? Or, more controversially, might they even start planning a graceful sunset to the Stephen Curry era — building around younger stars while he remains as the franchise figurehead?
These aren’t easy questions, and they strike at the emotional fabric of the franchise and its loyal fanbase. But with punitive tax penalties mounting and the competition in the West only getting fiercer, sentimentality alone won’t be enough to keep the Warriors relevant.
The Path Ahead
Golden State’s front office, led by GM Mike Dunleavy Jr., has some hard decisions to make. Whether it’s restructuring deals, trading high-salary veterans, or reshaping their developmental priorities, the next few months will define the direction of the franchise for years to come.
The dynasty may not be dead — but without bold action, it might quietly fade away under the weight of its own cap sheet.