The Golden State Warriors have been one of the NBA’s marquee franchises for more than a decade. But with news of LeBron James’ decision to join the Philadelphia 76ers on Friday reverberating around the league, the cold reality of next season is hitting the Warriors and their fan base.Golden State was considered one of the front-runners to obtain James’ services, along with the 76ers, Cleveland Cavaliers, Miami Heat and Minnesota Timberwolves. The Warriors weren’t under any illusion that James was definitely going to come to the Bay, though they held out hope it would happen. Without him, the Warriors will still be interesting, thanks in large part to Stephen Curry and the excitement his game continues to generate at 38 years old. But for the first time in years, they will start a season without realistic championship expectations.The upcoming 2026-27 campaign has a similar feel to the start of the 2019-20 campaign. Klay Thompson got hurt in Game 6 of the 2019 NBA Finals and missed the following season as he recovered from a torn ACL. (He also missed the 2020-2021 season while recovering from an Achilles injury.) Kevin Durant left the Warriors after three seasons and signed with the Brooklyn Nets. Curry broke his hand in the fourth game of the season and missed four months. The Warriors finished with a league-worst 15-50 record in the COVID-19-shortened season and landed the No. 2 pick in the 2020 draft. They selected James Wiseman, who played two and a half seasons for the organization before getting traded and is no longer in the league.This iteration of the Warriors doesn’t figure to be nearly that bad. Curry is still at the top of his game even as he deals with a lingering knee issue that sidelined him for two months last season. The Warriors have more talent behind him than they did entering that season in the form of young players such as Brandin Podziemski, Gui Santos and promising rookie forward Yaxel Lendeborg. They have proven veterans such as Al Horford, Kristaps Porziņģis, and, if they get a new deal done, Draymond Green.The problem for the Warriors, as it was nearly seven years ago, is that they walk into a new year waiting on a core piece to rehab from a career-altering injury. Last time, it was Thompson; this time, it’s veteran forward Jimmy Butler (torn ACL) and swingman Moses Moody (torn patellar tendon), who will miss big chunks of next season.LeBron headed to Philly, leaving Warriors fans disappointedNick Friedell and Lauren Morales-JonesChampionship expectations have defined the Steve Kerr era. After much debate, the longtime coach ultimately re-signed with the team he’s been leading for the last 12 seasons. He still has a passion for what he does, and he still enjoys the day-to-day process that comes with coaching Curry and company. But Kerr will have a challenge this season keeping his veteran players engaged day to day. They’ll have their moments where they come together and win some games, and Curry will still show that he’s one of the best players in the game when he’s healthy, but the Warriors don’t have enough talent to play for the only thing they have judged themselves on every year since Kerr took over as coach.After the Warriors’ season ended with a Play-In Tournament loss in April to the Phoenix Suns, Curry acknowledged that the Warriors needed to change their way of thinking to get back on track. In 2019, they were coming off their fifth straight finals appearance. In 2026, they’re coming off a 37-45 campaign in which they finished 10th in the Western Conference.