Warriors expected to cut beloved champion to save money on taxes

The Golden State Warriors are nowhere near being title contenders and will likely get rid of a fan-favorite veteran to lower their tax bill.

According to Tim Kawakami of the Athletic who was appearing on The Athletic Warriors Plus Minus: A show about the Golden State Warriors, Kevon Looney's "likeliest situation is that he’s cut" by Golden State for the franchise to lower their tax bill.

Looney only has $3 million guaranteed left ($8 million total) on a three-year, $25.2 million deal which he signed during the 2022 offseason. The big man had a down year averaging only 4.5 points, 5.7 rebounds, and 1.8 assists per game on 59 percent shooting in 74 games. Despite the bad season, the center can contribute to a title contender if given the chance. Looney has played with the Warriors for nine seasons.

While Looney's impact will likely missed, Golden State is likely making this move as second-round pick Trayce-Jackson Davis shined with the franchise averaging 7.9 points, 5 rebounds, and 1.2 assists per game in his rookie season with the squad. The Warriors are number-crunching their books as the squad looks to get under the luxury tax.

As it stands (before Looney cut), the Warriors are paying $174 million+ in salary commitments ($6 million in luxury tax payments). As the franchise tries to keep Klay Thompson on a reduced long-term deal, it's worth wondering if the Warriors will continue to make more cost-cutting moves related to the luxury tax.

Will the Warriors make more luxury-tax related moves?

With only $1 million or so until the franchise is under the luxury tax, it's reasonable to expect that Golden State will not make any more major moves regarding avoiding the tax.

While the Warriors might avoid the luxury tax, the franchise could trade Chris Paul or Andrew Wiggins in moves that result in them getting veterans who are on cheaper contracts. Yes, those veterans might be a better fit around Steph Curry but this squad could have an actual chance at trading for a second superstar if they make the right moves.

Whether the Warriors make a splash trade this offseason or not is still yet to be seen but at the very least the franchise seemingly wants to save money to give themselves a chance.