After taking what seemed to be a literal summer vacation, the Golden State Warriors have finally woken up. Just in the last week they re-signed Gary Payton II and De’Anthony Melton, completed their long-rumored signing of Al Horford, then they followed that up by finally coming to terms with Jonathan Kuminga after months of speculation about his future.
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Kuminga ended up signing a two-year, $48.5 million deal to remain in Golden State, ending, at least for now, the idea that he would be traded to the Sacramento Kings or another interested suitor. That second year is a team option, with expectations that the deal will be renegotiated after this season.
The Kuminga contract was the big Warriors news of the day yesterday, but it wasn’t the only move of note that the team made.
ESPN’s Shams Charania had the scoop:
Free agent guard Seth Curry has agreed to a one-year deal with the Golden State Warriors, sources tell ESPN. Seth and Stephen Curry team up on the Warriors beginning with training camp on Wednesday. pic.twitter.com/mun12axOzw
— Shams Charania (@ShamsCharania) October 1, 2025
That’s right, we’ve got a double dose of Curry magic on the Dubs this season. Steph has two years and over $122 million left on his deal, but Seth is signing an Exhibit 9 deal, which is something NBA fans who aren’t also salary cap junkies may not be familiar with. So what is it?
An Exhibit 9 contract is a non-guaranteed deal, often given out by teams to fill out rosters as training camp approaches. All Exhibit 9 contracts are one-year, league-minimum deals, and they don’t count against the salary cap until the regular season begins.
If an Exhibit 9 player is still on the roster on Opening Night, the contract converts to a standard non-guaranteed contract and begins to count against the cap, per Spotrac.
If a player under an Exhibit 9 contract gets injured in camp or in a preseason game, rather than leaving the team on the hook for the entirety of his salary as a guaranteed contract would, the team can waive the player for just $15,000.
Many Exhibit 9 players end up getting cut or moving to the G League once the season starts. It would appear that the plan is for the Warriors to cut Curry before the season starts, then re-sign him in November to a fully guaranteed, veteran’s minimum contract when there wouldn’t be a penalty for doing so.
This bit of salary cap gymnastics was brought on by the Kuminga deal, which prevents the Warriors from carrying a 15th player until November 15.
Some other notable players have signed Exhibit 9 contracts this offseason. Malcolm Brogdon and Landry Shamet are on Exhibit 9s with the Knicks, Bismack Biyombo is on one with the Spurs, and Precious Achiuwa is on one with the Heat.
Steph normally plays a bit in preseason, so we may not have to wait long to see him and his brother on the court together. Golden State’s first preseason game is on Sunday versus the Lakers.
