For weeks, the assumption around the NBA has been straightforward.
If LeBron James were to join the Golden State Warriors, he would likely need to accept the full non-taxpayer midlevel exception worth approximately $15.1 million.
According to The Athletic’s John Hollinger, that may not be the Warriors’ only option.
In a detailed salary-cap breakdown published Monday, Hollinger outlined a sign-and-trade pathway that could allow Golden State to pay James roughly $23 million in the first season of a new contract—provided the Warriors first complete a blockbuster trade for Anthony Davis.
The scenario remains hypothetical, but it offers the clearest financial blueprint yet for how Golden State could realistically assemble one of the most accomplished veteran cores in NBA history.
Anthony Davis Trade Remains the First Domino
GettySAN FRANCISCO, CALIFORNIA – OCTOBER 07: Draymond Green and Stephen Curryof the Golden State Warriors jokes with Anthony Davis and LeBron James of the Los Angeles Lakers after their game at Chase Center on October 07, 2023 in San Francisco, California.
Everything begins with Davis.
Yahoo Sports’ Kevin O’Connor reported Sunday that league sources expect the Warriors to pursue a trade for the Washington Wizards star before attempting to sign James in free agency.
ESPN’s Shams Charania added another significant development Monday when he reported Draymond Green declined his $27.7 million player option, a move designed to create additional financial flexibility as Golden State pursues both Davis and James.
Hollinger’s projections assume the Warriors successfully acquire Davis by sending Jimmy Butler and draft compensation to Washington in a blockbuster trade.
Even after absorbing Davis’ salary, Hollinger calculated Golden State’s payroll would increase by only about $1.5 million.
Warriors Can Still Create Cap Flexibility
The financial picture becomes more manageable than many expected.
Hollinger projects that adding veteran center Al Horford on his previously agreed-upon contract, De’Anthony Melton’s $3.4 million player option and second-round pick Lajae Jones‘ rookie-scale salary would still leave the Warriors with approximately $24 million below the NBA’s first apron while carrying three open roster spots.
That creates multiple pathways to pursuing James.
The most straightforward remains convincing the four-time MVP to sign for the full non-taxpayer midlevel exception.
But Hollinger believes Golden State has another option.
LeBron James Sign-and-Trade Could Increase Salary
Rather than signing James outright, the Warriors could structure a sign-and-trade.
Hollinger’s framework centers on second-year wing Will Richard and injured guard Moses Moody, with Moody likely rerouted to a third team alongside draft compensation to complete the transaction.
That structure would allow James to earn approximately $23 million instead of roughly $15 million through the midlevel exception.
For a player entering his 24th NBA season, an additional $8 million could significantly strengthen Golden State’s recruiting pitch if James ultimately decides to leave the Los Angeles Lakers.
Just as importantly, the sign-and-trade demonstrates that the Warriors’ financial limitations may not be as restrictive as initially believed.
Moses Moody Move Creates Additional Roster Flexibility
GettyMoses Moody of the Golden State Warriors is defended by P.J. Washington of the Dallas Mavericks during the second quarter at American Airlines Center on March 23, 2026 in Dallas, Texas.
The benefits extend beyond James’ salary.
According to Hollinger, moving Moody’s $12.5 million contract would create additional room beneath the first apron.
Rather than exhausting nearly all available spending power on James, Golden State could preserve a portion of the non-taxpayer midlevel exception to pursue another rotation player at guard or wing.
That flexibility becomes especially important if Butler departs in a Davis trade, leaving the Warriors searching for additional perimeter depth around Stephen Curry, James, Davis and Green.
Instead of constructing an extremely top-heavy roster, Golden State could still add another meaningful contributor before training camp.
Warriors’ Biggest Hurdle Is No Longer the Salary Cap
Hollinger’s analysis reframes one of the biggest questions surrounding Golden State’s offseason.
The Warriors’ greatest obstacle may no longer be fitting James under the salary cap.
It may simply be completing the Davis trade.
Washington has publicly maintained its desire to keep Davis and negotiate a long-term extension later this summer, making any blockbuster far from guaranteed.
But if the Warriors can clear that hurdle, the financial pathway toward pairing Curry, James and Davis appears considerably more realistic than many initially assumed.
For a franchise determined to maximize Curry’s remaining championship window, that possibility alone makes Hollinger’s blueprint one of the most significant developments yet in what is already shaping up to be one of the NBA’s wildest offseasons.
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