Kings Have Two Untouchables in Warriors Trade Talks: Report

On Wednesday, Jason Anderson of the Sacramento Bee reported that the Kings have kept Keegan Murray and Keon Ellis untouchable in talks with Golden State. 

As has been widely reported, the Kings’ best offer thus far appears to have been Devin Carter, Dario Saric, and draft picks. Anderson notes that the draft compensation could be a protected first-round pick or multiple second-rounders. 

This report makes complete sense. Murray and Ellis would be outstanding fits with Golden State’s current roster - far better than Kuminga has proven to be in his short stint with this version of Golden State. Both are lower usage players who have developed playing off of high-level offensive talent in Sacramento. 

Murray, in particular, would probably be the Warriors’ dream return here. Sacramento selected him fourth overall out of Iowa in 2022 after he scored 23.5 PPG on 55/40/75 splits with a 30% usage rate. The hope would likely be that Murray could step into his current role, hit spot-up threes and play excellent defense, and eventually ramp back into a higher usage offensive role as Stephen Curry, Jimmy Butler, and Draymond Green age out (Curry is 37 years old, and Green and Butler are both 35). 

Ellis, meanwhile, would immediately fill a dire need for shooting outside of Curry. Aside from Curry and former King Buddy Hield, Golden State has almost no perimeter shooting. Ellis, meanwhile, shot 43.3% from three on four attempts per game last season, while being a high-level defender.

With this in mind, the Warriors have almost certainly kicked the tires on both Murray and Ellis. It would be irresponsible for them not to have done so. 

Sacramento has not extended Murray yet, despite almost a month passing since he became eligible, which could lead to doubts about his long-term future with the Kings. However, the extension market is generally cold right now. Aside from max extensions for Paolo Banchero, Chet Holmgren, and Jalen Williams, only Jabari Smith Jr. has extended thus far. 

The NBA’s announcement that the salary cap will increase just 7% in 2026-27 (when these extensions will begin), as opposed to the widely assumed 10% figure, has almost certainly thrown a wrench in most negotiations. The lower figure takes roughly $5M away from teams’ projections, which can have severe repercussions in the Apron era when flexibility is as important as ever. 

The same can be said for Ellis, whose team option was picked up about a month ago. This decision, seemingly made in the name of financial flexibility, willingly ceded a lot of leverage Sacramento could have had in signing Ellis long-term. They must now work to extend him or risk losing him for nothing next summer. 

So, for those trying to keep track: Sacramento will not include Keon Ellis or Keegan Murray in a Kuminga sign-and-trade, and Golden State does not want DeMar DeRozan or Devin Carter. 

The deadline to watch here is October 1, which is Kuminga’s deadline to accept the Qualifying Offer and take the sign-and-trade options off the table for Golden State. Until then, expect more tea leaves from these negotiations to continue trickling out through August and potentially September.