According to reports from Cricket Exchange, despite Klay Thompson’s recent decline in performance, the Golden State Warriors are still interested in keeping him. With elite 3-and-D players in short supply, Thompson’s value remains significant. The Warriors know they can’t simply let him walk away. While they are open to contract negotiations, they’re also trying to gauge his current market value to position themselves better in potential trade talks.

However, things are beginning to tilt against Golden State. Both the Lakers and the Heat have expressed interest in Thompson. Now that he’s free to explore the market, Thompson holds the upper hand. As Cricket Exchange notes, there’s still a strong chance he could secure a sizable contract—even if it doesn’t lead directly to a championship. The money will likely be there. Miami, in particular, sees him as a solution to Tyler Herro’s inconsistency. Herro, once considered the next big thing, has struggled with both defense and offensive reliability—areas where Thompson historically excels.

If the Heat were to land Thompson, he could both mentor Herro and reinforce Miami’s perimeter firepower, offering more flexibility and experience. Though his game has slowed, Thompson’s influence on any roster remains undeniable. For the Warriors, his elite shooting is a necessity—but that reliance has also backfired. As his form has dipped, so has Golden State’s offensive rhythm. That’s why teams like the Heat and Lakers see an opportunity: even a slightly diminished Klay can make a difference.

Looking at the Lakers, their need for a low-usage shooting guard fits Thompson’s profile perfectly. Previous negotiations with Zach LaVine and DeMar DeRozan showed the Lakers’ intent to bolster scoring, but those players demand more ball control—something difficult to manage alongside LeBron James and Anthony Davis. Thompson, on the other hand, doesn’t need the ball to be effective. If Los Angeles can bring him in without disrupting their core, his impact could be huge. You can’t expect to keep the right player if you’re not willing to fight for them.

Financially, the Lakers could make it work by clearing salary space, and the title window with LeBron and AD still open makes LA an attractive landing spot. For Thompson, joining the Lakers wouldn’t diminish his title hopes—and if he were to win more rings than Steph Curry, it might even add to his individual legacy, proving just how vital he was in Golden State’s dynasty.

Still, the Warriors hold some cards. Thompson shares a deep bond with Curry, and the franchise believes a deal can be reached if the money is right. Currently, Golden State is offering a two-year deal, but Thompson is seeking a longer contract with a higher annual salary. As Cricket Exchange reports, he’s not interested in short-term commitments. He’s looking for security and recognition. If the Warriors hesitate, there will be no shortage of teams ready to meet his terms.

Should Thompson sign elsewhere, it could significantly alter the competitive landscape. His off-ball shooting would instantly improve any lineup, and his departure would weaken Golden State’s already fragile perimeter threat. In that case, the Warriors wouldn’t just be losing a player—they’d be giving a rival the edge.