Warriors play waiting game with Patrick McCaw

Golden State Warriors' Patrick McCaw in 4th quarter of Indiana Pacers' 92-81 win in NBA game at Oracle Arena in Oakland, Calif., on Tuesday, March 27, 2018. Golden State Warriors' Patrick McCaw in 4th quarter of Indiana Pacers' 92-81 win in NBA game at Oracle Arena in Oakland, Calif., on Tuesday, March 27, 2018. Photo: Scott Strazzante / The Chronicle Photo: Scott Strazzante / The Chronicle Image 1 of / 9 Caption Close Warriors play waiting game with Patrick McCaw 1 / 9 Back to Gallery

Less than a week before the start of training camp, the Warriors face at least one major personnel question: Will Patrick McCaw sign?

Over the past three months, Golden State has waited for McCaw to ink its $1.7 million qualifying offer. Now, with media day four days away, McCaw is still holding out for a better deal.

It is a risky approach that could take a toll on the goodwill McCaw and the Warriors have fostered over the past two seasons. Though Golden State remains hopeful that its third-year swingman will be in uniform for training camp, it will have to consider other options should McCaw’s holdout last much longer.

“It’s kind of a waiting game at this point,” McCaw’s father, Jeff, told The Chronicle recently. “I know Pat would like to stick with the Warriors, but there are other factors in play. I told him that, regardless of what happens, he needs to be prepared and ready.”

After a surprisingly productive rookie season, McCaw hoped to parlay a memorable 2017-18 into a big payday. A number of factors, however, dashed those plans.

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McCaw struggled to solidify a rotation spot after impressing at the 2017 Las Vegas Summer League. Aware that he shared a court with some of the league’s best scorers, he had a tough time deciphering when to pass and when to shoot.

It didn’t help that the offseason additions of Nick Young and Omri Casspi, longtime rotation players on other teams, made the wing rotation more crowded. McCaw began to settle into a rhythm in mid-February, only to miss four-plus weeks with a wrist injury.

Eleven days after he returned, McCaw was undercut by Sacramento’s Vince Carter on a layup attempt, sustaining a spinal injury that would sideline him nearly two more months. Instead of entering free agency as a sought-after building block, McCaw failed to attract an offer to put pressure on Golden State.

With training camp looming and no other contract on the table, McCaw is banking on one of two outcomes: Either the Warriors raise their offer to bring him back, or another team tries to lure him away from the Bay Area with a bigger contract.

Golden State has 13 players under contract for next season, two shy of the league maximum. It wants McCaw to be its 14th, which would give it flexibility with that final roster spot entering the season.

But it is also possible that the Warriors will grow tired of the waiting game and cut ties with McCaw, leaving him to settle for whatever contract he can get so late in the process. Under that scenario, Golden State could pick between a number of established wing players — Jamal Crawford, Arron Afflalo and Corey Brewer, among others — who are available.

However, it might prefer to put two-way-contract player Damion Lee on the 15-man roster. It is also possible that Kendrick Nunn, Danuel House or Alfonzo McKinnie — all of whom have been invited to training camp to compete for the team’s second two-way contract — could wow the front office enough in preseason to snag McCaw’s roster spot.

“I’m not really sure what is going to happen, and I don’t really think Pat does, either,” Jeff McCaw said. “I’ll tell you this, though: We’re all looking forward to some sort of resolution.”

Connor Letourneau is a San Francisco Chronicle staff writer. Email: cletourneau@sfchronicle.com. Twitter: @Con_Chron