According to The Undefeated's Marc J. Spears, the Warriors have a two-year offer on the table worth about $5 million, with only the first year guaranteed.
While the qualifying offer formally expires Monday night, The Athletic's Tim Kawakami doesn't believe it represents a point of no return regarding the negotiations between McCaw and Golden State:
The Mercury News' Mark Medina reported the Warriors "remain intent on re-signing" McCaw regardless of whether he accepts their current offer. However, The Athletic's Anthony Slater reported the situation may not be so straightforward:
The fact that McCaw remains unsigned this deep into the offseason illustrates his limited value on the free-agent market. Through his first two seasons, he has averaged 4.0 points and 1.2 assists while shooting 29.6 percent from three-point range.
And McCaw isn't exactly in a position to play hardball with a team that is coming off back-to-back NBA titles. The Warriors wouldn't be much worse off if they had to scramble for a replacement for McCaw.
The San Francisco Chronicle's Connor Letourneau listed Jamal Crawford, Arron Afflalo and Corey Brewer as proven veterans who would be available.
McCaw may simply prefer to leave Golden State and join a team where he might be assured more playing time.
Assuming he rejoins the Warriors, his role is unlikely to grow in 2018-19. Klay Thompson is entrenched as the starting 2-guard and 2018 first-round draft pick Jacob Evans will almost certainly see some time at both shooting guard and small forward.
By taking less money but getting a larger role with another team, McCaw could potentially position himself for a bigger payday down the line.