The Oklahoma City Thunder and guard Cason Wallace have agreed to a five-year, $139 million contract extension, according to multiple reports on Sunday night.
ESPN first reported the extension, with attribution to Wallace’s agents at Excel Sports Management.
Cason Wallace, who turns 23 on Nov. 7, made the NBA All-Defensive second team last season, when he led the league in total steals with 150. He will earn $7.42 million for the 2026-27 season before the extension kicks in.
He averaged career highs of 8.6 points, 2.6 assists and 1.9 steals per game and averaged 26.6 minutes in 77 contests (58 starts).
Wallace became a bigger part of the Thunder’s plans after they traded another elite perimeter defender, Lu Dort, to the Atlanta Hawks in the offseason.
“I think the greatest sign of respect we could have shown Cason is moving Lu in that trade,” Thunder president Sam Presti said in September.
“We potentially could have looked at a series of other options, but it’s a bit of a gesture to him to say, ‘We think you can have a great role on this team. We believe in you as a player.’ ”
He entered the league as a first-round pick (10th overall) in the 2023 draft out of Kentucky. The Dallas Mavericks drafted Wallace and traded him and Davis Bertans to Oklahoma City for the rights to Dereck Lively II.
Wallace has averaged 7.9 points, 2.9 rebounds, 2.2 assists, 1.5 steals and 24.7 minutes in 227 regular-season games (114 starts).
He has played in 48 playoff games (five starts) and averaged 6.2 points, 2.7 rebounds, 2.0 assists, 1.5 steals and 22.7 minutes. The Thunder won the league championship in the 2024-25 season.