The Golden State Warriors made waves before the trade deadline with a bold pursuit of Giannis Antetokounmpo - a move that, had it gone through, could've reshaped the Western Conference landscape. But while the Warriors were all-in on trying to land the two-time MVP, one name was reportedly off-limits in those conversations: Jimmy Butler.
Golden State’s front office, led by Mike Dunleavy Jr., was said to be firm in keeping Butler out of any potential deal for Antetokounmpo. That decision may have preserved the team’s current core, but it also left the door open to some tough questions down the line - especially for Butler, whose long-term fit with the franchise could be back in the spotlight this summer.
Let’s unpack what went down, and more importantly, what could come next.
The Warriors’ Swing at Giannis
Golden State’s reported offer for Antetokounmpo was no small package. It was built around Draymond Green, rising forward Jonathan Kuminga, sharpshooter Buddy Hield, rookie Brandin Podziemski, and a full chest of future draft picks. That’s about as aggressive as it gets without touching the very top of your roster.
But Milwaukee wasn’t budging. The Bucks made it clear they weren’t ready to part with their franchise cornerstone, and the Warriors were forced to pivot.
That pivot came in the form of a deal with the Atlanta Hawks, where Golden State shipped out Kuminga and Hield in exchange for 7’2” veteran center Kristaps Porzingis. It wasn’t the splash they were hoping for, but it kept the door open for future moves - especially since they held on to their draft capital.
The Salary Puzzle
Now here’s where things get tricky. Matching salaries in a potential blockbuster trade is always a delicate dance, and the Warriors had a clear path with the contracts of Green and Kuminga. But now that Kuminga is gone and Porzingis is in the mix - with free agency looming - the math starts to get more complicated.
Porzingis is set to become an unrestricted free agent this summer. Green has a $27.7 million player option for next season. Either or both could be back, but whether they return on similar deals or take pay cuts will significantly impact Golden State’s flexibility.
If the Warriors bring both back at their current salaries, it’s a clear signal they’re keeping those contracts alive as trade chips - not necessarily because they believe the deals are great value. That’s a strategy we’ve seen before. Last offseason, the Warriors gave Kuminga a two-year, $48 million extension, not just as a reward for potential, but because it gave them a movable contract in a star-level trade.
But if Porzingis walks and Green opts out or signs for less, the Warriors lose those matching salaries - and suddenly, putting together a viable package for a superstar like Antetokounmpo becomes a whole lot harder.
What This Means for Jimmy Butler
Which brings us back to Butler. If the Warriors can’t build a trade around Green and Porzingis, and if they still want to chase a marquee name this summer, Butler’s name could find its way into the conversation - even if he was untouchable at the deadline.
That’s the quiet part Butler might be thinking about now. Had the Antetokounmpo deal gone through, he would’ve been locked into a core that was clearly committed to making a title run around him. Instead, the Warriors came up short, and now the offseason could bring a wave of uncertainty.
To be clear, it’s still unlikely Golden State would move Butler while he’s rehabbing from an ACL injury. That’s a tough sell for any team, and the Warriors aren’t exactly known for making rash moves with injured stars. But the situation is more fluid than it was a few weeks ago, and Butler’s future isn’t quite as secure as it once seemed.
The Warriors currently have just five fully guaranteed contracts on the books for next season. That gives them flexibility - but also a lot of decisions to make. If they’re still eyeing a major swing this summer, and if the salary pieces don’t fall into place with Green or Porzingis, Butler could become the piece they once refused to move - but may have to reconsider.
The trade deadline came and went without the fireworks some expected. But make no mistake: the real drama in Golden State might just be getting started.