Durant, who is an unrestricted free agent, will possess a player option on the second year, sources say.
Sources say Durant would likely opt out again in the summer of 2018.
The 2017 NBA Finals MVP will be taking somewhere in the vicinity of a $9 million pay cut, being that he could have secured a max of $34 million.
This act of selflessness is giving the Warriors every resource possible to recruit and retain talent. Durant declined his 2017-18 player to become a free agent with sole purpose of allowing the Warriors to retain the Bird rights to Andre Iguodala and Shaun Livingston.