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Stephen Curry has reached a two-year, $116 million contract extension with the Golden State Warriors, binding the star to the team for his 20th NBA season.
According to NBA sources, the deal includes a player option in the final season [2028-2029].
It was shared that the Warriors presented Curry with several contract choices in past weeks, including the option to wait, but Curry ultimately decided on a pay cut and security.
He is currently on an expiring $62.6 million contract and became eligible August 29 for an extension for up to two years and $136.7 million.
Why did Stephen Curry agree to a pay cut?
The Warriors suggested that Curry could take a small pay cut from his maximum salary, which would allow the team to have more money under the salary cap to sign other good players and build a strong roaster.
As per the latest agreement, Curry's contract will dip from $62.6 million next season to $55.7 million for the 2027-28 season and a player option for $60.2 million in the 2028-29 season.
Stephen Curry on his contract extension talks
Curry took nearly a month to decide whether he wanted to sign for his full max, accept a slight pay cut or wait to agree to a new deal.
"We're in a very interesting situation," Curry told ESPN earlier this week.
"All the different salary cap conditions of whether I sign for a max or less or whatever it is, I want to be on a competitive team. I want to have an opportunity to have some flexibility because we haven't had that in years past, the recent past," he added.
"For me, information and patience is key. It's just a very unique situation all the way around based on where we've been the last four years, where I'm at in my career, what our team looks like this year and the absolute desperation to win. Trying to balance all that."
The 38-year-old, who said he wanted "no drama" surrounding his contract talks heading into training camp, opted for the pay cut and security three days before the team's first practice, quieting any lingering questions.
Notably, Curry missed 39 games because of a persistent right knee issue last season but said he felt great entering camp.
