The Oklahoma City Thunder and guard Victor Oladipo have agreed to a four-year, $84 million contract extension, according to The Vertical’s Shams Charania.
The Thunder are also progressing on a four-year, $100 million extension for center Steven Adams, per The Vertical’s Adrian Wojnarowski, and it appears an agreement is expected by Monday’s deadline as the franchise wants to lock in their young core around star point guard Russell Westbrook.
The deal for Oladipo makes some sense given the proposed cap hold rules in the new collective bargaining agreement. Under the current rules, he would’ve had a cap hold of around $13 million as a restricted free agent, but the new increase would’ve bumped it up significantly:
In the case of Oladipo he could see his cap hold increase from $13.1m to $19.7m. For Adams an increase from $7.9m to $9.4m.
— Bobby Marks (@BobbyMarks42) October 30, 2016
The first year of Oladipo’s new deal is less than this new cap hold number, so it won’t have an effect on flexibility for next summer. A lucrative new deal for Adams would hurt that flexibility in free agency next summer, but it seems the Thunder would rather just get a new contract done now than play the restricted free agency game. Oklahoma City is set to have little to no cap space next summer thanks to these deals (assuming Adams also gets done), but Enes Kanter’s hefty contract is possible trade bait to clear room.
Oladipo hasn’t been a member of the Thunder for long after coming over in a trade from the Orlando Magic, but Oklahoma City has apparently seen enough to reward him with this new deal. It’s been a bit of a rocky start for the 24-year-old, as his scoring average of 17 points per game is on just 34.0 percent shooting overall and 25.0 percent from three.
The Thunder are 3-0 to start the season.