Warriors' summer disappointments continue with release of 12-time All-Star

The Golden State Warriors tried, but they weren't able to get Chris Paul his seventh career trade. So he's being waived.

Paul and the Warriors agreed to move back the decision day for the team to pick up his $30M salary for next season, but that wasn't enough time for Golden State to work out a trade. When the Warriors failed to land Paul George on Saturday, the usefulness of Paul's flexible deal disappeared.

Now, with Klay Thompson trending toward a departure , the team is looking at losing two key contributors from last season. The Warriors also lost the chance to use Paul's deal as a matching salary to bring in other reinforcements for Stephen Curry, but they did get under the luxury tax.

Golden State can escape its status as a second-apron luxury tax team, and get out of the luxury tax entirely. That's a very valuable thing for the franchise going forward, but perhaps limits the team's ability to surround the 36-year-old Curry with talent. The Warriors could still turn Thompson's departure into a sign-and-trade, unless he's willing to settle for the mid-level exception with his new team.

Now the Warriors, who have paid the most total luxury tax in NBA history, may finally be dropping under the tax line. And the Point God, Chris Paul, is heading for his seventh NBA team.