Thunder, Cason Wallace agree to $139 million contract extension before Monday’s deadline appeared first on ClutchPoints. Add ClutchPoints as a Preferred Source by clicking here.
The Oklahoma City Thunder and guard Cason Wallace have agreed to a five-year, $139 million rookie-scale contract extension that keeps him with the franchise through the 2031-32 NBA season, first reported by ESPN.
Wallace, 22, put together his best year in the NBA during the 2025-26 season, averaging 8.6 points, 3.1 rebounds, and 2.6 assists per game while shooting 43.2 percent from the floor and 35.1 percent from 3-point range. In 77 games, 58 of which he started, Wallace recorded a league-high 150 steals, resulting in him earning All-Defensive Second Team honors.
He finished seventh in the voting for the 2025-26 Defensive Player of the Year award.
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After trading Luguentz Dort, Isaiah Joe, and Aaron Wiggins this offseason, the Thunder made it clear to Wallace and his representation that they wanted to negotiate a new contract before the start of the 2026-27 season. General manager Sam Presti even made this clear before the start of training camp.
“I think the greatest sign of respect we could have shown Cason is moving Lu in that trade,” Presti said. “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. And we’re hopeful that all that can work out.'”
By locking in Wallace to a long-term contract, the Thunder have avoided what would’ve been a disastrous scenario in the young guard becoming a restricted free agent next summer. Earlier in October, one league source told ClutchPoints that if Wallace were to hit restricted free agency, at least two different teams would be prepared to offer him a deal that exceeds $30 million in annual value.
With this threat existing and the Thunder already trading multiple players this offseason to keep Wallace, it was clear that Presti wanted to reach an agreement with Wallace before Monday’s extension-eligibility deadline.
Aside from keeping Wallace through the 2031-32 season, the Thunder now have their entire core under contract long-term.
Shai Gilgeous-Alexander, Chet Holmgren, and Jalen Williams are all under contract through the 2030-31 season, and Isaiah Hartenstein just signed a new contract with the Thunder that runs through the 2028-29 season with a variety of opt-out clauses. Alex Caruso is also under contract through the 2028-29 season.
Outside of having to decide on team options for the contracts of Ajay Mitchell, Jared McCain, Jaylin Williams, Nikola Topic, and Thomas Sorber next offseason, the Thunder have their entire team under contract and do not have any looming contract questions as distractions.
Wallace will now enter the 2026-27 season with a new contract and is expected to start in the backcourt alongside Gilgeous-Alexander.
The Thunder went 64-18 during the 2025-26 season, losing in seven games to the San Antonio Spurs in the Western Conference Finals after winning the organization’s first championship in Oklahoma City one year before.
In ClutchPoints’ 2026-27 NBA preseason media poll, the Thunder were the favorites to win the Western Conference with 50 percent of the total votes and they were also voted the favorites to win the 2027 NBA Finals with roughly 47 percent of the vote.
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