Warriors' Chris Paul trade was designed to keep Klay Thompson

In the NBA's new Collective Bargaining Agreement, there are severe penalties for going over the "second apron," defined as a payroll of more than $17.5 million over the luxury tax line. Exceeding that level comes with harsh penalties, including not being able to use the $5 million taxpayer midlevel exception, limits on sign-and-trades and signing players on the buyout market and "freezing" first-round picks seven years out so they can't be traded.

With those penalties in place, Golden State decided it couldn't stay under the apron and pay sixth man Jordan Poole over $30 million per season. Even if he feuded with Draymond Green and, as Andre Iguodala said, Poole "looked like he was trying not to try" on defense, finances were a huge part of the Warriors' decision to swap him for Chris Paul.

Paul makes more than Poole this season, but his contract is totally non-guaranteed for 2024-25. As Anthony Slater writes in The Athletic:

"They’re remodeling their roster with the intention of ducking the second apron next summer and maintaining flexibility. It was a core reason for the Poole-for-Chris Paul trade. Poole is owed $30.1 million for the 2024-25 season. Paul’s $30 million that season is fully non-guaranteed until June 28, able to be completely shed, if needed."

What that means is that the Warriors have space under the apron for Thompson, provided he's willing to take a pay cut from his $43.1 million salary. That means a possible Thompson extension should be in the $25-30 million range to keep the team's flexibility.

Will that be enough? It is if Thompson takes a hometown discount like Draymond Green and Andrew Wiggins did on their own extensions. There's been no progress so far, but Thompson likely knows the range of what Golden State will pay. It's his decision if he wants to re-up with the only team he's ever played for.