What's next for Warriors? Steph Curry era is fading, but there are three paths back to contention

The Warriors' offseason dilemma: chase one more ring around Curry or protect the next era?

Sam Quinn

Apr 18, 2026

12:50 am ET

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16 min read

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In December, Steve Kerr called the Golden State Warriors a "fading dynasty." It was an honest assessment of a struggling team, and it was evident to pretty much everyone watching. And yet, according to The Athletic's Nick Friedell, the comments "created internal frustration" within the organization.

Even when teams know the end is near, few like to admit it -- to the public, of course, or even to themselves. Think of all of the desperation moves the Milwaukee Bucks have made to try to appease Giannis Antetokounmpo. The Stephen Curry-era Warriors have had a whole lot more success, and it's only natural to want to cling to that. But Kerr said (and reiterated Wednesday) what we were all thinking: it's not 2017 anymore, or even 2022. This team is in a different phase of its life cycle. And on Friday in the Play-In Tournament, the Warriors' season ended with a 111-96 loss to the Phoenix Suns, one victory short of the actual playoffs.

This isn't the first time the Warriors have found themselves in this scenario. The Memphis Grizzlies knocked them out in this exact Play-In game in 2021. They won the championship in 2022. The Sacramento Kings beat them by 24 in the No. 9 vs. No. 10 Play-In Game in 2024. The Warriors staved off that crisis with a timely trade for Jimmy Butler. He tore his ACL in January. Moses Moody tore his patellar tendon two months later. He was the last remnant of Golden State's ill-fated "two timelines" approach. This roster is now mostly devoid of useful youth. Curry, a 38-year-old who makes his living running laps around the court, missed 27 games while hampered by runner's knee, an overuse injury.

The Warriors have faced their own mortality before. Father Time will eventually get them, like he does everyone else. But Golden State's refusal to go quietly into the dark extends far beyond frustration with Kerr's public quotes. The Warriors have aggressively sought out star-level talent at nearly every major transaction cycle of the past several years. They've paid the luxury tax in eight of the past nine seasons, including this year.

Kerr may believe the Warriors are near the end. And the Warriors seem hellbent on delaying the inevitable as long as possible, or at least trying to go out in a short-term blaze of glory.

Maybe the Warriors are fixable. Maybe they aren't. But with their offseason now at hand, let's look at the paths they could take to try to preserve the most successful era in franchise history -- or prepare for the next one.

Path 1: Go all-in for Giannis (or someone similar)

The easiest way to maximize the end of Curry's career would be to pair him with someone better than him. Get another true superstar and you can dial back his workload enough to hopefully keep him fresh through 82 games. We know who Golden State wants this co-star to be: Giannis Antetokounmpo. They offered four first-round picks at the deadline and were rebuffed.

Several things have changed since then. Golden State's assets are suddenly a bit more appealing. They were in the middle of the Western Conference when they tried for Antetokounmpo in February. Now they'll go into the lottery with the 11th-best odds at the No. 1 pick -- the same slot Dallas won from a year ago. Worst-case scenario, the Warriors are starting from the lottery, not the 20s. Their 2033 first-rounder is suddenly tradable, though Golden State would have to do some gymnastics to unlock its full slate of draft picks thanks to that awkward top-20 protected pick in 2030 that currently belongs to Dallas. That's a solvable problem consider how limited that pick's upside is. A 2026 lottery pick, plus four future picks and multiple swaps in a flattened lottery environment, is a fairly substantial offer.

The Bucks don't seem as willing to kick the can down the road again as they did in February. Governor Wes Edens has said on the record that Antetokounmpo's deal will be extended or he will be traded. Golden State will be among the bidders, but Antetokounmpo could extend, or another team could offer more, or Antetokounmpo himself could even nudge the Warriors off the scent. He's only 31 and will likely play years after Curry retires. Does he want to go to a team that old with no assets left to build with? All told, an Antetokounmpo trade is less than a 50-50 proposition for Golden State. Perhaps far less.

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And then of course, it's worth asking whether such a deal would even make sense. Imagine a best-case scenario in which a trade could be made using the expiring contract of Butler, all of the picks and all of their notable youth (Moody, Brandin Podziemski, Will Richard). Your