The OKC Thunder signed Micah Peavy to a two-way contract on Friday, per a report from ESPN's Shams Charania.
Peavy, 25, was selected by the New Orleans Pelicans in the second round (No. 40 overall) of the 2025 NBA Draft. He averaged 4.3 points and 1.9 rebounds in 15 minutes per game last season while shooting 38.5% from the field (25.9% from deep).
New Orleans then traded Peavy to the Memphis Grizzlies on Sept. 8, and he was waived by them on Oct. 19. He now lands with OKC, where he'll try to carve out a role as a 6-foot-7 wing who defends multiple positions and plays with a strong motor.
With the signing of Peavy, OKC must now waive one of its three players on a two-way contract: Brooks Barnhizer, Josh Dix or Otega Oweh. It's assumed that it'll be Oweh, although the Thunder has not yet made an announcement.
OKC selected Oweh with the No. 41 pick in the 2026 draft. It was a full circle moment for the 23-year-old guard, who spent the first two seasons of his college career at Oklahoma before transferring to Kentucky.
But Oweh ruptured his right Achilles tendon during OKC’s preseason game against the Indiana Pacers on Oct. 13. He then underwent successful season-ending surgery the following day. It's a tough setback for a promising prospect who excels on defense and is also a tough finisher around the rim.
Next up for OKC (2-0) is a home game against the Los Angeles Clippers at 6 p.m. CT Sunday.
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Justin Martinez covers the Thunder and NBA for The Oklahoman. Have a story idea for Justin? He can be reached at jmartinez@oklahoman.com or on X/Twitter at @Justintohoops. Sign up for the Thunder Sports Minute newsletter to access more NBA coverage. Support Justin's work and that of other Oklahoman journalists by purchasing a digital subscription today at subscribe.oklahoman.com.
This article originally appeared on Oklahoman: OKC Thunder signs Micah Peavy to two-way contract, per report