The Golden State Warriors just got a glimpse of an uncomfortable future. Without Stephen Curry and Draymond Green on the floor against Minnesota, the offense stalled, the ball stuck, and the defensive structure collapsed. It was a reminder of how fragile the current version of the Warriors looks without its long-time anchors.

That backdrop helps explain why Golden State has been monitoring the Giannis Antetokounmpo situation so closely. It also clarifies why the latest reporting around Antetokounmpo matters so much to their deadline plans.

According to Chris Mannix of Sports Illustrated, the Warriors have made it known they are ready to make an offer if Milwaukee becomes serious about trading Antetokounmpo. That interest, however, does not appear to be mutual.

Insider Henry Abbott reported that Antetokounmpo may have a short list of preferred destinations if a move materializes. “One person told me that Giannis’s preferred list is three teams: the Heat, the Wolves, and the Knicks,” Abbott said, while also noting that another source disputed the list and declined to share alternatives.

Even with that caveat, Golden State was not mentioned in any version of the reported preferences. As a result, a Stephen Curry and Giannis Antetokounmpo pairing remains speculative rather than imminent, despite the Warriors’ willingness to engage if the Bucks open formal talks.

Several factors help explain why the Golden State may not register as an appealing option. The Warriors’ core is aging. Curry is 37. Jimmy Butler is 36. Al Horford is 39. Green is 35. For a 31-year-old Antetokounmpo, that profile carries obvious short-term urgency and long-term risk.

Offensively, the fit is complicated as well. Curry’s guard-driven attack, Green’s playmaking role, and Butler’s ball-dominant tendencies would leave Antetokounmpo adjusting his game rather than shaping it. Meanwhile, the Warriors’ motion system under Steve Kerr prioritizes spacing and movement, not sustained interior dominance.

Financial pressure adds another barrier. Golden State is already facing a projected luxury tax bill north of $80 million, limiting its ability to build a roster fully around a new superstar.

This situation also reflects a broader league pattern. When elite stars near their early thirties and sense organizational uncertainty, preference lists tend to favor younger cores with long-term flexibility rather than aging contenders chasing one last run. In that context, Antetokounmpo’s reported interest in Miami, Minnesota, and New York aligns with how the modern superstar movement has evolved.

For Golden State, that reality shifts the focus inward.

If not Giannis Antetokounmpo, then Jonathan Kuminga

If Antetokounmpo is unlikely, the Warriors must look elsewhere for answers. That puts Jonathan Kuminga back at the center of internal discussions. Before Butler’s ACL injury, Kuminga had been out of the rotation for extended stretches, with Kerr previously acknowledging that a Kuminga-Butler-Green lineup “doesn’t fit real well.”

Once Butler went down, Kuminga’s role immediately expanded before his own knee injury halted momentum.

As a result, ESPN has reported that a Kuminga trade has become less likely in recent days. Team sources have indicated the Warriors are not eager to take back long-term money in any deal involving the 23-year-old, instead prioritizing flexibility if a move presents real value.

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Antetokounmpo’s reported preferences do not formally close the door on Golden State. Still, they make one thing clear. The Warriors cannot plan around a Giannis pursuit. Instead, they are staring at a more familiar crossroads. Either extract meaningful growth from their young core, starting with Kuminga, or accept that the current roster ceiling may be lower than past championship standards.

With the trade deadline approaching and no clear superstar lifeline available, Golden State’s next defining decision may come from within rather than the market.