The Warriors' hard cap leaves room for only a $20 million swap: the math behind every Kristaps Porzingis exit
WhyNBA Sports Desk · Oct 25, 2026
The story
The Golden State Warriors can only trade Kristaps Porzingis for players who earn about what he does, because a hard cap they triggered in the summer leaves them less than $350,000 of room under the second apron.
The story
That sliver shapes every exit from a $20 million deal for a center who may never suit up for them again.
The story
ESPN reported on Wednesday that Golden State is exploring trade routes for Porzingis, who is out indefinitely with symptoms tied to postural orthostatic tachycardia syndrome.
The story
Shams Charania, who had the report with Anthony Slater, added that "stepping away from basketball - for good - is possible." Milwaukee, one team Golden State called, is not believed to be interested.
The numbers on the table
Figure: Porzingis extension; Amount: 2 years, $40M ($20M each season); Where it comes from: Reported (Yahoo Sports, ClutchPoints)
The numbers on the table
Figure: Guaranteed for 2027-28; Amount: $3M of $20M; Where it comes from: Reported (Yahoo Sports, Yardbarker)
The numbers on the table
Figure: Room under the second apron; Amount: less than $350,000; Where it comes from: Reported (Yardbarker)
The numbers on the table
Figure: Luxury tax line, 2026-27; Amount: $200.428M; Where it comes from: NBA, official
The numbers on the table
Figure: First apron; Amount: $209.015M; Where it comes from: NBA, official
The numbers on the table
Figure: Second apron (Warriors' hard cap); Amount: $221.686M; Where it comes from: NBA, official
The numbers on the table
Figure: Implied Warriors payroll; Amount: about $221.3M; Where it comes from: our estimate: hard cap minus reported room
The numbers on the table
Figure: Over the tax line today; Amount: about $20.9M; Where it comes from: our math
The numbers on the table
Figure: Above the tax if he left with nothing back; Amount: about $0.9M; Where it comes from: our math
Why the hard cap narrows the trade
Golden State signed Al Horford with the taxpayer mid-level exception, and under the 2023 collective bargaining agreement that move hard-caps a team at the second apron for the entire season. Shedding salary later does not lift it.
Why the hard cap narrows the trade
So any deal has to keep the Warriors at or below $221.686 million on the day it is made, which means the salary coming back can exceed Porzingis' $20 million by only a few hundred thousand dollars.
Why the hard cap narrows the trade
Sitting above the first apron already limits them to taking back no more than they send.
Why the hard cap narrows the trade
The contract was written for exactly this. A flat salary made it tradable right away, and with only $3 million guaranteed next season, a buyer can treat it almost like an expiring deal and release him in the summer for a small charge.
Why the hard cap narrows the trade
The catch is what the Warriors can add. Reports said Golden State would prefer to keep Moses Moody, and Yardbarker counted seven players signed this summer who cannot be dealt before Tuesday, December 15.
Three ways out, three prices
A matched trade. It refills the roster but barely moves the tax bill, since salary in equals salary out.
Three ways out, three prices
A salary dump. The Grizzlies' $28.9 million traded player exception is large enough to absorb Porzingis without sending anything back, and Siegel named Memphis as a team to watch.
Three ways out, three prices
The Warriors would drop to about $201.3 million, below the first apron and within about $900,000 of the tax line, by our math. Memphis has said it wants draft assets for that kind of help, so the cost would be picks.
Three ways out, three prices
Retirement. A player who retires stops collecting the salary he does not play for, and it leaves the books with him, but that decision belongs to Porzingis, and walking away from $23 million in guarantees is rare.
Three ways out, three prices
The agreement's medical route, in which a league-appointed doctor rules an illness career-ending and the salary is removed from the cap, cannot start until a year after his last game.
What comes next
December 15 is the date to circle, when the summer signings become tradable and Golden State's matching options widen. The full contract list is on the Warriors salary page. Golden State visits Denver on Monday, October 26 (10 p.m. ET); the Game Center has it live.
Photo credit
File photo: Kristaps Porzingis. Photo: All-Pro Reels / Wikimedia Commons (CC BY-SA 2.0).
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