Steph Curry’s $44M Warriors Deal in 2012–13 Revisited as NBA Reflects on One of Greatest Bargains in League History
When Stephen Curry signed a four-year, $44 million contract extension with the Golden State Warriors during the 2012–13 season, few could have predicted the far-reaching consequences of that deal. At the time, it was seen by some as a risk and by others as a necessary gamble. Curry, though immensely talented, had dealt with recurring ankle injuries that cast doubt on his durability and long-term effectiveness. But what followed was a meteoric rise—not just for Curry himself, but for an entire franchise, and ultimately, for the NBA as a whole.
In the years since that pivotal signing, Curry has transformed the Warriors from a fringe playoff team into a full-blown dynasty. He became a two-time NBA MVP, the league’s all-time leader in three-pointers made, and the face of a basketball revolution centered around pace, space, and long-distance shooting. Looking back, that $44 million contract is widely considered one of the greatest bargains in NBA history—and arguably the most important inflection point in the Warriors’ ascent to dominance.
To understand just how transformative the deal was, one must consider the context. When Curry signed the extension in 2012, he was coming off a season in which he played only 26 games due to nagging ankle injuries. The Warriors had not made the playoffs since the “We Believe” team of 2007. General manager Bob Myers, still relatively new to his role, had to weigh the risk of committing long-term money to a player with uncertain health. But the front office, along with then-head coach Mark Jackson, believed in Curry’s work ethic, character, and basketball instincts.
The resulting contract—four years, $44 million—was modest even by 2012 standards. At roughly $11 million per year, it made Curry one of the more affordable starting point guards in the league. Within two years, however, the league would realize that the Warriors had secured not just a good player at a team-friendly rate, but a generational superstar for pennies on the dollar.
The timing of the contract allowed the Warriors to build around Curry in ways that would have been impossible had he been on a max deal. With that financial flexibility, the team was able to retain key role players, take calculated swings in free agency, and eventually lure superstar forward Kevin Durant in the summer of 2016. It wasn’t just about signing Curry—it was about everything that contract made possible. Golden State’s front office used the cap space to assemble a perfectly complementary roster, leading to a historic 73–9 season in 2015–16 and three championships over the next four years.
For Curry himself, the deal became a defining symbol of his journey. Never one to chase individual accolades or financial headlines, he consistently emphasized team success and loyalty. While other stars were jumping ship or chasing superteams, Curry stayed rooted in Golden State, helping to cultivate a culture of trust, unselfishness, and relentless work ethic. The humility with which he carried himself during those early years helped set the tone for a locker room that valued chemistry over ego.
That under-market contract also had ripple effects across the league. It sparked renewed conversations about the risks and rewards of early extensions, especially for young stars with injury histories. It highlighted the importance of smart cap management and forecasting future talent growth. And it showed that sometimes, betting on character and potential can yield dividends far beyond what numbers alone might suggest.
Curry’s growth after signing the deal was nothing short of explosive. During the 2014–15 season—just two years into the contract—he won his first MVP award, averaging 23.8 points, 7.7 assists, and 2.0 steals per game while leading the Warriors to a 67–15 record and their first NBA title in 40 years. The following year, he became the first unanimous MVP in league history, averaging 30.1 points per game while shooting over 50 percent from the field, over 45 percent from three-point range, and over 90 percent from the free-throw line. He shattered his own three-point record and redefined what was possible from a point guard in the modern NBA.
During that same window, his salary remained shockingly low compared to his production. In 2015–16, Curry made just over $11 million—less than what several backup centers were earning at the time. While the Warriors never took Curry for granted, the financial flexibility allowed them to pay players like Klay Thompson and Draymond Green, sign Andre Iguodala, and maintain a deep, versatile roster.
Eventually, the league caught up. Curry signed a five-year, $201 million supermax contract in 2017, and then another four-year, $215 million extension in 2021. But by then, the foundation had already been laid. The success built on that initial $44 million deal had created a dynasty, turned the Warriors into a global brand, and made Curry one of the most marketable and influential athletes in the world.
The deal is now often cited alongside other historically favorable contracts, such as Scottie Pippen’s infamous under-market extension with the 1990s Chicago Bulls. But unlike that situation, where Pippen openly expressed frustration over being underpaid, Curry never complained. He focused on winning, trusting that the rewards—both financial and professional—would come with time. And they did. Endorsements, championship bonuses, and eventual supermax deals made him one of the wealthiest players in league history.
Yet the legacy of the 2012–13 contract is about more than just money. It’s about belief—Golden State’s belief in Curry when others doubted him, and Curry’s belief in the organization when he could have easily taken a shorter deal or tested free agency. That mutual loyalty became the bedrock of a franchise culture that has weathered injuries, roster turnover, and shifting league dynamics for over a decade.
Even now, as Curry enters the twilight years of his prime, the echoes of that contract are still felt. Every championship banner that hangs in Chase Center, every All-Star appearance, every record-breaking night—it all traces back to the decision to sign that extension. Without it, the Warriors might never have become the NBA’s model franchise. Without it, Curry might never have ascended to the rare air of all-time greatness.
It’s also a reminder of how quickly fortunes can shift in professional sports. What was once seen as a potential overpay for an injury-prone guard became a franchise-defining bargain. It’s a case study in risk, reward, and the importance of timing. Had Curry waited another year, his breakout performance in 2013–14 likely would have earned him a max deal immediately. But the early extension locked him in, providing the Warriors with a rare edge in a league where margins often define champions.
Today, the NBA is filled with stars on max contracts, many of whom have not delivered even a fraction of the value that Curry brought during that four-year span. For young players and front offices alike, the Curry contract remains a teaching tool—a perfect storm of foresight, opportunity, and mutual trust.
As the league reflects on Stephen Curry’s enduring impact, it’s impossible to overlook the $44 million deal that started it all. It was more than just a number on a piece of paper. It was a turning point. A foundation. A belief in something greater than statistics or salary rankings. And as the history books continue to tell the story of the Golden State Warriors’ rise, that 2012–13 contract will forever stand as one of the most important—and impactful—deals in NBA history.
