The Warriors Bet On A Core That Isn't On The Floor
Golden State re-signed Stephen Curry and built its summer around this core, but four rotation players are already compromised before a single regular-season game tips off.
The extension is done, the roster is set, and the payroll sits well past the tax and apron lines with almost no room to add. Butler, Moody, Porzingis and Toohey are all dealing with health situations heading into camp, and the front office has no realistic way to spend around it.
What The Summer Actually Bought
Curry and the Warriors finalized an extension on September 25, though the exact terms were never disclosed beyond the announcement itself. Golden State of Mind's Daniel Hardee reported the deal saved the franchise $20 million against the cap, a sign the front office structured it to keep building around this roster rather than pivot toward a longer rebuild. Whatever the exact number, the message was clear: this era isn't over by the front office's own accounting.
The Core That Isn't Available Yet
Butler is out with a knee issue, with a return estimated for December 1. Moody carries a knee issue of his own and shares that same rough timeline. Alex Toohey is day-to-day with a knee problem, and Anthony Slater reported that Porzingis is out indefinitely with an undisclosed health issue, sidelining him to open training camp. That's four rotation players the front office is paying for, unavailable before the season opener at the Lakers on October 21.
No Room Behind Them
Golden State's payroll sits at $224.7 million, past the $200.4 million luxury-tax line and the $221.7 million second-apron threshold, against a $165.0 million salary cap. Curry ($62.6 million), Butler ($56.8 million), Green ($27.7 million) and Porzingis ($19.5 million) account for most of it. A team that far into luxury territory has almost no trade exception space and no clean path to add a replacement piece if any of these absences run long; the real currency left is the first-round picks Golden State still owns in 2027, 2028 and 2029.
So What's The Answer?
Last season's team finished 37-45 with a -0.5 net rating, 19th on offense and 16th on defense, proof the margin for absences was already thin. Golden State chose continuity over a reset, paying to keep Curry, Butler and Porzingis together rather than lean on the picks it has banked. That bet doesn't get tested by a win total in October; it gets tested by whether the front office is willing to spend one of those firsts if this same core still isn't whole once games start to matter.
Why is Kristaps Porzingis not playing to open camp?
Anthony Slater reported that Porzingis is out indefinitely with an undisclosed health issue, and no timetable has been given.
When could Butler and Moody be back on the floor?
Both are dealing with knee issues and share an estimated return date of December 1, 2026.
