Klay Thompson's long and successful tenure with the Golden State Warriors appears to be nearing an end, as ESPN reported Sunday that the five-time All-Star guard will test free agency and is unlikely to re-sign with the team he's spent his entire NBA career with.

Thompson, a core member of the Warriors' four NBA championship teams over an eight-year span from 2014-22, is expected to hold meetings with the Dallas Mavericks, Los Angeles Lakers, Los Angeles Clippers and Philadelphia 76ers in the coming days, according to ESPN.

The Athletic adds that the Warriors have begun discussions on sign-and-trade agreements involving the star sharpshooter.

Golden State has also parted ways with another esteemed veteran, as the Warriors officially placed guard Chris Paul on waivers in a move that will save the team $30 million towards next season's salary cap.

The Warriors had until Sunday to decide whether to guarantee Paul's $30 million salary for 2024-25.

Paul turned 39 in May and spent just one injury-plagued season with the Warriors after being acquired from Washington last summer in a trade that sent high-scoring guard Jordan Poole to the Wizards. The 12-time All-Star averaged 9.2 points, the lowest of his 19-year NBA career, and 6.8 assists over 58 games while missing nearly two months with a fractured hand.

Thompson, on the other hand, developed into one of the best players in franchise history after being selected by the Warriors with the 11th overall pick of the 2011 draft.

The 34-year-old's 2,481 made 3-pointers trail only long-time teammate Stephen Curry for the most by a Warriors player, and Thompson also ranks fourth in team history in games played (793) and sixth in points (15,531).

One of the best perimeter shooters of this era, Thompson averaged at least 20 points per game for five consecutive seasons from 2014-19 as a vital part of three NBA championship teams (2015, 2017, 2018) during that period.

Thompson missed the entire 2019-20 and 2020–21 campaigns due to a torn ACL and a ruptured Achilles tendon, but returned to average 20.4 points in 32 games the following season and help Golden State to another NBA title.

His run of seven straight seasons averaging 20 or more points per game came to an end in 2023-24, when he averaged 17.9 points in 77 games and shot under 40 per cent from 3-point range for just the second time in his career.

Paul reportedly intends to play a 20th season as he continues his search for the first NBA title of his illustrious career, and the veteran is expected to draw interest as a role player for contending teams.