Stephen Curry is staying with the Golden State Warriors.

The 38-year-old superstar has agreed to a two-year, $116 million contract extension that will keep him in Golden State through at least the 2027-28 season, with a player option for 2028-29. The deal could take Curry into his 20th NBA season, all with the Warriors.

The agreement is also significant because Curry accepted considerably less than the maximum available to him. Golden State could have offered him approximately $136.7 million over two years, but Curry chose the $116 million agreement, creating additional salary-cap flexibility for the Warriors.

That decision could ultimately be just as important as the contract itself.

Curry has repeatedly made clear that he wants to remain competitive rather than simply maximize his personal earnings. His new contract gives Golden State more room to make moves around him, potentially adding or retaining important pieces as the franchise tries to build another championship-caliber roster.

The Warriors are coming off a difficult 2025-26 season, finishing 37-45, while Curry was limited to 43 games because of injuries. Despite that, he averaged 26.6 points, 4.7 assists and 3.6 rebounds and remained one of the NBA’s most productive offensive players.

The contract also highlights one of the NBA’s unusual rules.

Because Curry is over 38, the league’s “over-38 rule” restricted the length of the extension he could sign during the current window. He became eligible on August 29 for a maximum two-year extension. Had he waited until his existing contract expired and entered free agency, he could potentially have been eligible for a longer three-year deal worth as much as $207 million.

Curry instead chose certainty—and gave Golden State financial flexibility.

His salary will fall from $62.6 million this season to $55.7 million in 2027-28, followed by a $60.2 million player option for 2028-29. The structure is expected to give the Warriors roughly $10 million more projected cap space next summer.

For Golden State, this is about more than keeping a superstar.

Curry is the face of the franchise that drafted him in 2009. He has won four NBA championships, two MVP awards and a Finals MVP, and he is the league’s all-time leader in made three-pointers. If he remains through the 2028-29 season, he would join a very small group of players who spent at least 20 seasons with one franchise.

The Warriors now have another challenge: making the final years of Curry’s career competitive.

Draymond Green and Jimmy Butler are among the veterans whose contracts could create significant financial flexibility next summer. Golden State will have to decide whether to use that room to add talent, retain its veterans or reshape the roster around Curry.

For Curry, however, the message is straightforward.

He is not finished.

The player who transformed the NBA’s relationship with the three-point shot has chosen to stay where his entire professional story began.

And he has given the Warriors something potentially more valuable than another two years of Stephen Curry:

financial flexibility to try to build one more championship run around him.