How Warriors Eras End, and What Is Testing This One
Every Golden State era has ended on money, health or an early playoff exit, and this one is being tested by all three.
Every era the Warriors have had ended eventually on money, age or a playoff series lost earlier than planned. Stephen Curry is in his 17th season, payroll is past the luxury-tax figure and the apron above it, and the only goal left is a return to the playoffs after a losing season.
How the last core broke up
The 2015-2019 core of Stephen Curry, Klay Thompson and Draymond Green won three titles in four years, then lost the 2019 Finals to the Toronto Raptors. Kevin Durant left afterward. Golden State's eras have ended that way before: the 'Run TMC' years under Don Nelson gave way to a Chris Webber-Latrell Sprewell roster that broke up after a rift with Nelson. Winning windows here have closed on relationships and departures as much as on the scoreboard.
The scoreboard caught up too
The current core lost in the 2023 conference semifinals to the Lakers, the first time since 2014 Golden State lost in the playoffs before reaching the Finals. Last season the record fell to 37-45, with a net rating of -0.5 that ranked 20th of 30 teams. That is the backdrop for a preseason spent testing a deeper, younger rotation around Curry, Butler, Green and Porzingis.
What this version owes
Payroll sits at $223.3 million, above the $200.4 million luxury-tax figure and the apron above it, with Curry's $62.6 million, Butler's $56.8 million, Green's $27.7 million and Porzingis's $19.5 million as the largest numbers. Golden State still owns its first-round picks in 2027, 2028 and 2029, but owes a 2029 second-rounder to Brooklyn and sends a protected 2030 first and conditional second to Memphis. There is little room to add if this group's health turns.
The question hanging over the roster
Curry finalized a two-year extension on September 25, with no salary or option terms reported since. Jimmy Butler III remains out with a right knee issue and isn't expected back until January 2, 2027. The concrete goal this season is simpler than any banner: get back to the playoffs after a losing season, with the money already spent and most of the usable draft capital already promised elsewhere.
Why did the 2015-2019 Warriors core break up?
Golden State lost the 2019 Finals to the Toronto Raptors, and Kevin Durant left the team afterward.
Are the Warriors over the luxury tax this season?
Yes. Payroll is $223.3 million, above the $200.4 million luxury-tax figure and the apron above it, with Curry, Butler, Green and Porzingis carrying the largest contracts.
