Reports: Chris Paul agrees to deal with Spurs after release from Warriors

Chris Paul has reportedly found his new home. (Sam Hodde/Getty Images)

Chris Paul has agreed to a deal with the San Antonio Spurs after his Sunday release by the Golden State Warriors, according to multiple reports.

The contract is for one year and $11 million-plus, according to ESPN's Adrian Wojnarowski.

Golden State waived Paul ahead of a Sunday deadline that would have guaranteed his contract for $30 million next season. The Warriors reportedly sought trade suitors for Paul ahead of Sunday's deadline and released him after failing to secure a partner. Now Paul is joining the Spurs.

Paul played a single season in San Francisco, splitting time as a backcourt mate and backup to Stephen Curry. At 39 years old, Paul's scoring abilities are significantly diminished from his All-Star prime. But he remains a capable playmaker and floor general who can score in spurts.

In 58 games, including 18 starts last season, Paul averaged 9.2 points, 6.8 assists, 3.9 rebounds, 1.3 turnovers and 1.2 steals per game while shooting 44.1% from the floor and 37.1% from 3-point distance.

Paul joins a young Spurs team built around rising star Victor Wembanyama that features four-year veteran Tre Jones at point guard. The Spurs also added two-way UConn shooting guard Stephon Castle to their backcourt with the fourth pick in last week's NBA Draft.

Is Klay Thompson gone from Golden State too?

The Warriors released Paul as they look to retool their roster around Curry in hopes of competing in the West next season.

The future of five-time All-Star and four-time NBA champion guard Klay Thompson in Golden State is in doubt at the start of free agency. Talks with the 13-year Warriors veteran have reportedly broken down as he hits the market as an unrestricted free agent. The Los Angeles Lakers, Clippers, Dallas Mavericks and Philadelphia 76ers are among the reported teams Thompson plans to meet with in free agency.