Klay Thompson's extension with the Golden State Warriors is not a max contract despite reports to the contrary, according to sources.

The first-year salary of a true max contract is set as a percentage of the cap rather a dollar figure amount, which is 25 percent of the cap for players coming off rookie contracts with 7.5 percent annual raises.

Thompson’s contract sticks at four years and $69 million regardless of what happens to the 2015-16 cap between now and the start of next season.

The max is almost the exact dollar-for-dollar equivalent of a max contract under the $66.5 million cap scenario, which is the currrent projection for 15-16.