The Golden State Warriors are heading into a defining offseason. After finishing 37 to 45 and missing the playoffs, the franchise is exploring every possible path back to contention.
According to The Athletic’s Nick Friedell and Marcus Thompson II, league observers have already floated a bold idea. Pair Stephen Curry with either LeBron James or Kawhi Leonard. But we think there is a more extreme version of that idea: Add both.
It sounds unrealistic at first. The financial and roster hurdles are massive. But if you break it down step by step, there is a narrow path, one that requires sacrifice, timing, and risk tolerance.
Start with LeBron, who will be a free agent. That removes the need for trade assets. He is still producing at an elite level for his age, averaging 20.9 points, 6.1 rebounds, and 7.2 assists while shooting 51.5% from the field and 31.7% from three. According to Friedell and Thompson, the Warriors will need to make a few moves before having a shot at The King:
“To use that, they would become hard-capped at the first apron, and it would likely require Porzingis leaving and/or trading Butler. They could easily get to the $6.1 million taxpayer MLE, were James willing to accept something that close to his minimum. A sign-and-trade scenario, which the Lakers would have to be incentivized to accept, would also hard-cap the Warriors at the first apron, and salaries would have to sufficiently match.”
Golden State is projected to have about $12.4 million in cap space and roughly $27 million below the first apron. To even open a pathway, they would need to let Kristaps Porzingis walk and seriously consider moving Jimmy Butler’s expiring deal. Using the non-taxpayer midlevel exception, projected at around $15.1 million, would hard cap them at roughly $209 million.
Even then, LeBron would need to take a massive pay cut. Reports suggest over $40 million less than his current $52.7 million salary. The alternative is the $6.1 million taxpayer midlevel exception, which is even less realistic unless he prioritizes chasing a title over earnings.
Now layer in Kawhi. Unlike LeBron, he requires a trade with the Los Angeles Clippers. Leonard is coming off a strong season, averaging 27.9 points, 6.3 rebounds, and 3.6 assists on 50.5% shooting and 38.7% from three. He also played 65 games, which helped rebuild his value.
Matching his $50.3 million salary is the first problem. Butler’s contract is the cleanest match, but his ACL injury complicates everything. With a 12-14 month recovery window, any acquiring team risks getting no production next season. That means the Warriors would need to attach serious draft capital.
Friedell and Thompson suggest a couple of ways the Warriors could land Leonard:
“Matching salaries in a trade for Leonard gets tricky because the only single salary that gets them there is Butler, whom the Clippers might not want. Outside of that, it’s potentially Green, Moody, and $10 million in other salaries like Podziemski or Santos.”
They control their next seven years of first-round picks. That allows for a package of up to four picks and three swaps. The Clippers would likely demand a heavy return if Butler is the centerpiece. Alternative deals involving Draymond Green, Moses Moody, and young salary fillers are possible, but they strip the roster and still may not be enough.
So how do you combine both moves?
Step one is a massive financial reset. Let Porzingis walk and move Butler in a Leonard deal with picks attached. That clears a significant salary slot while bringing in Kawhi.
Step two is LeBron’s decision. He must accept a reduced contract, likely near the midlevel range. Without that, the math fails immediately.
If both moves align, the Warriors could theoretically build a core of Curry, LeBron, and Kawhi. It would be a short window, high-risk roster built entirely around elite talent.
There are obvious concerns. Leonard turns 35 and has a long injury history, and LeBron is 41. Butler’s injury weakens trade leverage. Giving up multiple picks limits the future. One Warriors source has already indicated hesitation about trading multiple assets for aging stars.
There is also the alternative. Giannis Antetokounmpo remains the biggest potential prize on the market. But he comes with his own injury concerns, having played only 36 games this season. Trading everything for him carries a similar long-term risk. The difference is in structure. A Kawhi plus LeBron path spreads risk across two stars without fully emptying the asset pool for one.
Since winning the 2022 title, Golden State has won only two playoff series. The current core is no longer enough, and incremental changes will not close the gap.
Adding one superstar is difficult, but adding both is extreme. But if the Warriors are serious about one last run in the Curry era, this is the kind of gamble that defines legacies. It would not be easy by any stretch. The Warriors would require LeBron to sacrifice money, and the front office would need to give up picks. And also give up a rebuild over a short contending window. That is the decision in front of them.
