Stephen Curry and the Golden State Warriors have agreed to a two-year, $116 million contract extension, a deal that will keep the 38-year-old with the only franchise he’s ever known through the 2028-29 season. Curry took roughly $20 million less than the maximum extension that he was eligible to receive, giving the team flexibility to retool the roster around him.

The extension kicks in for the 2027-28 campaign, once the 38-year-old Curry completes the $62.6 million deal he signed back in August 2024 for the current season. It also includes a player option for that second year, a structure similar to the one Kawhi Leonard recently signed with the Toronto Raptors.

For all the talk of Curry entering the twilight of his career, he’s shown he can still be an elite player. This past season, when healthy, he averaged 26.6 points, 3.6 rebounds and 4.7 assists over 43 games. These numbers, while a step down from his unanimous MVP campaign a decade ago in 2015-16 when he averaged 30.1 points, 6.7 assists and 5.4 rebounds, show that he is still worthy of being considered one of the top guards in the NBA.

Though Curry remains one of the league’s best players, what’s harder to ignore is the roster left around him. Jimmy Butler, now 37 years old, tore his ACL in a January win over the Miami Heat and had surgery in February, with his return timeline pointing to sometime in 2027. Longtime running mate Draymond Green is 36, playing on a new one-year, $27.7 million deal, and Al Horford, at 40, is playing out a $6.8 million cap hit of his own.

Between the three of them and Curry, Golden State has just under $154 million committed to players aged 36 and older, pushing the roster near the luxury tax’s first apron, with real cap flexibility not opening up until 2027. In terms of title odds, the Warriors are nowhere near the top, which makes their current roster makeup difficult to justify. Yes, Curry’s discount buys Golden State room to maneuver, but it will take some time for Butler to get healthy and time is by no means on their side.

Still, there’s something fitting about how this is all playing out. If Curry sees the deal through with the Warriors, he’ll eventually suit up for a 20th season, all in a Golden State uniform. Only twelve players in NBA history have played that long, and only three–Dirk Nowitzki, Kobe Bryant and Udonis Haslem–spent every one of those seasons with a single team.

Curry is already a legend by any measure. This contract extension reads less like a farewell and more like an epilogue still being written. For a player like Curry, it would be foolish to assume the story’s already done. He could still have a surprise or two up his sleeve and given how his career has played out, the odds are that he can pull one off.