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How do Steph Curry's and LeBron James's contracts compare, and what do they mean for 2026-27?

By McKinley Malbrough III, J.D., MS-HRM · Certified WNBA player agent · Former certified NBA agent

Published September 27, 2026. Last updated September 27, 2026.

What are the two contracts?

Stephen Curry signed a two-year, $115,856,000 extension with the Golden State Warriors on September 25, 2026, with a player option in the second year, per Spotrac. It starts in 2027-28, after he finishes the $62.6 million extension he signed in August 2024, and it could carry him through his 20th season at age 41, per NBC Sports.

LeBron James left the Lakers and signed a two-year, $7,946,884 contract with the Philadelphia 76ers using the veteran minimum exception: $3,876,529 in 2026-27 and a $4,070,355 player option for 2027-28, per Spotrac. He earned $52.6 million with the Lakers last season, per Yahoo Sports.

The 2026-27 salary cap is $164,961,000.

Curry makes roughly 16 times what LeBron makes this season. Both are among the most accomplished players in league history. The gap tells you almost nothing about their value on the court and almost everything about how each chose to spend his final contract years.

Why did Curry take less than the max?

Curry was eligible for up to $136 million over two years and signed for about $116 million, a discount of roughly $20 million, per the Associated Press. NBC Sports reported that the discount is meant in part to help the Warriors build a contender around him.

The discount matters because of what comes off the books. Curry, Draymond Green and Jimmy Butler III could all have become free agents after this season. With Curry signed below the maximum, the Warriors project to have nearly $38 million in cap space in 2027, and up to $55 million if they waive Kristaps Porzingis, whose $20 million salary for next season is guaranteed for $3 million, per ESPN's Bobby Marks.

In plain terms: Curry gave Golden State a future. Cap space in 2027 gives this front office a way to rebuild the roster around him through free agency instead of trades alone.

How did LeBron end up on a minimum?

Philadelphia had no other way to pay him. The 76ers were hard-capped at the first apron of about $209 million after splitting their non-taxpayer mid-level exception between Dean Wade and Anfernee Simons, and they had to waive Dalen Terry just to fit LeBron under that ceiling, per Yahoo Sports. That left only the veteran minimum.

The pay cut is the largest in NBA history, per CBS Sports, which also noted that the two-year structure made the cap math slightly harder for Philadelphia than a one-year deal would have. James said the move would be his "last decision" after strongly considering retirement, per NBA.com. The second-year player option gives him the choice of a 25th season without another free agency.

A minimum salary is not a minimum role. For a contender, a four-time champion at $3.9 million is one of the best-value contracts in the league, a point CBS Sports made the day he signed. The money the 76ers did not spend on him is what let them keep the rest of the roster intact.

What does Curry's deal mean for the Warriors this season?

Very little changes on the floor this year, and that is the problem Golden State has to solve. The Warriors won 37 games last season and lost in the play-in to Phoenix, per USA Today. They are hard-capped at the second apron of $221.7 million, and Curry's $62.6 million is 28.3% of the payroll, per JJNBA.

• Injuries set the ceiling. Butler is returning from a torn ACL, Moses Moody from a patellar tendon tear, and Curry missed 27 games last season with jumper's knee, per USA Today. Butler's return date is still unclear, per ESPN.
• Stretch bigs carry the spacing. Porzingis and Al Horford can pull opposing centers out of the paint, which keeps driving lanes open while the wings are out.
• Curry's gravity is still the offense. He led the league in threes per game for a sixth straight season at 4.4, per NBA.com. Defenders chase him off the ball, which turns every screen into an advantage for someone else.
• The rookie matters. First-round pick Yaxel Lendeborg is likely to play real forward minutes until Butler and Moody return.

The honest read: this is a play-in-to-playoff team if healthy, with a clear reset button in the summer of 2027 that Curry's discount paid for.

What does LeBron's deal mean for the 76ers this season?

It completes the most talented core Philadelphia has put around Joel Embiid. The 76ers traded Paul George and draft picks for Jaylen Brown, then added LeBron, joining Embiid, Tyrese Maxey and VJ Edgecombe, per the NBA.com season preview. They went 45-37 last season and lost in the conference semifinals.

• Four super-users, one ball. The 76ers now have four players with career usage rates over 25%, per ESPN. Someone has to spot up, screen and cut.
• LeBron as a connector. The natural fit is LeBron running the second unit and closing games as a playmaking forward, letting Maxey work off the ball.
• Load management for Embiid. With Brown, Maxey and LeBron able to carry the offense, Embiid's regular-season minutes can be managed with the playoffs in mind.
• No margin on the payroll. The 76ers owe more than $155 million to Embiid, Brown, Maxey and Edgecombe alone, per Yahoo Sports. The hard cap limits midseason moves, so this roster is close to the one they will finish with.

What to watch this season

For Golden State: Butler's return date, Curry's games played, and whether the Warriors stay out of the play-in. For Philadelphia: Embiid's health in April, not November, and whether four high-usage stars share the ball in a closing lineup. For both: two all-time players built their last contracts around winning, one by leaving money on the table for his team's future, the other by taking almost nothing for the chance at a fifth ring now.

For how these contract types work, see how the salary cap sets rookie pay, how two-way contracts work, and the full glossary of cap terms.