Unveiling Kuminga's 2-year $48.5 million extension: Warriors' luxury tax rises by $70 million, earliest trade possible on January 16

On October 1st Beijing time, Shams reported that restricted free agent Jonathan Kuminga agreed to a two-year, $48.5 million contract to return to the Warriors, Verus Basketball agent Aaron Turner told ESPN. Sources revealed the deal includes a team option for the second year, designed specifically for the Warriors—or if Kuminga is traded in the upcoming season, the acquiring team can also terminate the contract after the 2025-2026 season and negotiate a new one.

Before the qualifying offer deadline, Kuminga opted for a two-year contract instead of a three-year $75 million proposal to maintain greater control over his near-term future with the Warriors. Throughout negotiations, the Warriors never wavered on the team option structure. Both sides now understand that when Kuminga becomes trade-eligible in mid-January, exploring trade possibilities is highly likely. As part of the deal, he waived his inherent no-trade clause.

Due to ongoing contract finalization, Kuminga missed media day and the Warriors' first practice. Warriors GM Mike Dunleavy Jr. was deadlocked with Kuminga's camp over the contract framework throughout the offseason, but Golden State ultimately raised its two-year offer by $8 million between July and September, assuring Kuminga approximately $15 million more than his $8 million qualifying offer this year.

Over the past two months, the Warriors maintained a two-year $45 million offer with a team option, and earlier this month proposed a three-year $75 million deal with a team option as well as a fully guaranteed three-year $54 million contract. Kuminga’s side sought a player option or a higher salary with a team option, but these demands were rejected by the Warriors throughout negotiations.

Choosing the two-year contract structure allows Kuminga to decide his next summer destination or become an unrestricted free agent in 2027.

In the final round of these lengthy talks, the Warriors increased the total two-year offer to $48.5 million. Kuminga’s contract will rank as the fourth highest salary on the Warriors’ roster next season, behind only Stephen Curry, Jimmy Butler, and Draymond Green,which will raise the team’s luxury tax penalty by $70 millionto a total exceeding $80 million.

By signing Kuminga for $22.5 million next season, Golden State will still have flexibility to use their $5.7 million mid-level exception and sign two players at the veteran minimum. Gary Payton II signed a one-year veteran minimum deal with the Warriors on Monday, while Al Horford, De'Anthony Melton, and rookie Will Richardson have also reached agreements.

However, according to ESPN’s Bobby Marks,the Warriors will have no space to sign a 15th player at the start of the season, as they are now just $2.03 million below the second luxury tax threshold. Starting November 16th, they will be able to add a 15th player—potentially free agent Seth Curry. Kuminga will become trade-eligible on January 16th next year and can be traded by the Warriors.

Sources indicate that the Phoenix Suns and Sacramento Kings are the strongest suitors in trade talks for Kuminga. The Suns’ top offer was a four-year, nearly $90 million contract with a player option. However, the Warriors showed no interest in trade proposals from either team, rejecting the Suns’ offer of Royce O’Neale and a second-round pick, as well as the Kings’ offer of Malik Monk and a protected first-round pick.

In the Warriors’ first-round series against the Houston Rockets, Kuminga was essentially out of the rotation, playing only 50 minutes across seven games, sitting out four games by coach’s decision. He averaged 6 points per game with a 30.4% shooting percentage against Houston. However, Kuminga shined in the Western Conference semifinals against the Minnesota Timberwolves, averaging 20.8 points on 54.3% shooting, including scoring over 20 points in three consecutive games to close the series.

According to ESPN research, Kuminga led the Warriors in inside scoring per game over the past two seasons, averaging 10 points inside per game in 2023-2024 and 8.5 points last season—a significant improvement for a team that ranked fifth from last in inside scoring last year. Among the 2021 draft class players, Kuminga ranks fifth in points per 36 minutes (minimum 150 games played).

Kuminga is also one of eight players from the 2021 draft class to have scored 3,000 points and grabbed 1,000 rebounds, and he is among the five Warriors players in history to reach 3,000 points before turning 23.

When the Warriors are missing key players, Kuminga has shown the ability to elevate his performance. His scoring average increased from 14.1 points with Curry on the court to 19.6 points in the 10 games without Curry, ranking second on the team behind Butler’s 20 points in three games without Curry. Kuminga’s shooting percentage also rose from 44.5% with Curry to 48.2% without him.

Kuminga became the third restricted free agent to resolve his contract issues in September, following Cam Thomas who returned to the Brooklyn Nets on a one-year $6 million qualifying offer, and Josh Giddey who signed a four-year $100 million deal to stay with the Chicago Bulls. Quentin Grimes of Philadelphia remains the last restricted free agent with unresolved contract matters.

This summer’s free agent market saw few teams with salary cap space, resulting in a freeze in the restricted free agent market. For most of the offseason, the Nets were the only team with significant cap space available.