How much will Warriors pay in salaries and luxury tax after Jordan Poole and Wiggins’ extension?
The Golden State Warriors want to keep their championship-winning team intact, but this could cost them a pretty penny following huge extension contracts.
The Golden State Warriors want to defend their NBA Championship title and as part of this, they’ve made sure key players will remain in the team for the next few years.
They’re reportedly signing substantial four-year extension deals with forward Andrew Wiggins and shooting guard Jordan Poole. Wiggins was about to play on the last year of his previous contract, and his extension is said to be good for $109 million.
Breaking: Andrew Wiggins has agreed to a four-year, $109 million extension with the Warriors, his agents told @wojespn and @kendra__andrews.
— ESPN (@espn) October 15, 2022
Wiggins is now tied to the Warriors for five years, $143 million. pic.twitter.com/iGMiXObZM0
Poole’s agreement will supposedly make him $123 million in guaranteed money, with up to $17 million in incentives, for a total of $140 million. His contract extension follows an altercation between the 23-year-old and teammate Draymond Green, who punched him to the ground during practice. (The incident was earlier rumored to be rooted in a mammoth contract that Poole was about to be offered.)
While the Warriors have secured some critical elements in the team, this will massively increase their salary costs, especially if they also craft a new deal with Green.
All these moves could amount to a $483 million total for the 2023-24 season between wages and the league’s luxury tax.
Golden St. payroll and tax penalty in 2023/24 will likely exceed $500M once the roster is filled.
— Bobby Marks (@BobbyMarks42) October 15, 2022
That factors in Draymond Green opting-in to his $27.6M player option.
With 12 players
💰Salary: $215M
💰Tax: $268M
💰💰Total: $483M
The Warriors already have in their roster some of the highest-paid players in the league, with Steph Curry raking in the top annual salary in the NBA with a rate of $51.9 million, and Klay Thompson ranking tenth in the league, receiving a $43.2 million paycheck each year.
According to NBA insider Bobby Marks’ calculations, the Warriors could pass the $500 million mark if Green ends up staying with Golden State.
Here’s what the finances in Golden St. could look like in 2023/24: pic.twitter.com/cchEHH7Kcv
— Bobby Marks (@BobbyMarks42) October 15, 2022
As it stands, the team already has the best-paid roster, with a total $202.1 million cap. This amount has cost them $170.2 million in luxury tax, also the biggest number among all the NBA franchises.