Sources: Warriors, Curry reach 2-year extension worth $116 million - ESPN

Golden State Warriors star Stephen Curry has agreed to a two-year, $116 million contract extension, tying the franchise legend to the only organization he has ever known through his 20th NBA season, league sources told ESPN's Shams Charania on Friday.

The deal includes a player option in the final season (2028-29), according to sources.

The Warriors presented Curry with several contract choices in recent weeks, including the option to wait, but Curry ultimately decided on a pay cut and security over either a max contract or the uncertainty of stalling for more flexibility and information.

Curry is currently on an expiring $62.6 million contract and became eligible Aug. 29 for an extension for up to two years and $136.7 million.

As part of the Warriors' presentation to Curry, the team laid out various paths that included the idea of a slight pay cut from his max, delivering them more salary cap room to build a contender around him in the future, team sources said.

Curry's contract will dip from $62.6 million next season to $55.7 million for the 2027-28 season and a player option for $60.2 million in the 2028-29 season. That will provide the Warriors with around $10 million extra in projected cap space next summer, allowing them to be a bigger player in either free agency or the trade market in the next 12 months.

Currently, Jimmy Butler III ($56.8 million) and Draymond Green ($27.6 million) both have expiring contracts coming off the Warriors' books next summer. Veteran center Kristaps Porzingis has only $3 million of his $20 million salary guaranteed, leaving the Warriors somewhere between $38 million and a projected $55 million in cap space, depending on what they do with Brandin Podziemski's extension eligibility,