Wallace agrees to five-year, $139 million Thunder extension, agents tell ESPN

Cason Wallace has agreed to a five-year, $139 million rookie-scale contract extension with the Oklahoma City Thunder, his agents told ESPN on Sunday, securing a longer commitment for a guard expected to take a larger starting role.

Agents Jeff Schwartz, Max Lipsett and Marcus Monk of Excel Sports Management supplied the terms to ESPN's Shams Charania. The NBA's report also attributed the agreement to ESPN. The Thunder's team news page reviewed Monday had not supplied a separate announcement of the contract terms.

Wallace, 22, made the All-Defensive Second Team last season and led the league with 150 steals. He averaged career highs of 8.6 points, 2.6 assists and 1.9 steals, giving Oklahoma City a defensive contributor whose role has expanded since he entered the league.

The extension follows the Thunder's offseason decision to trade longtime perimeter defender Luguentz Dort to Atlanta. Wallace's development was part of Oklahoma City's reasoning for making that move, ESPN reported.

General manager Sam Presti had described the trade before training camp as a sign of the organization's confidence in Wallace and the larger role he could play. The reported agreement puts a longer contractual commitment behind that position as Oklahoma City prepares for the regular season.

Wallace played 77 games last season and shot 35.6 percent from three-point range, according to the NBA's account. He is expected to play alongside Shai Gilgeous-Alexander in the starting backcourt following Dort's departure. That assignment gives the Thunder another guard who can defend the ball while sharing an offense with an established scorer.

Wallace entered the NBA as the 10th pick in the 2023 draft. He made the All-Rookie Second Team in 2024 and followed that recognition with his first All-Defensive selection in 2026. His current team profile lists him as a 6-foot-3 guard wearing No. 22.

His availability has also been part of his early record. ESPN reported that Wallace has played 227 regular-season games, including 114 starts, and appeared in all 48 of Oklahoma City's playoff games during his time with the team.

The financial consequences extend beyond this season. With Wallace's reported agreement, 13 of the Thunder's 14 current rostered players are under contract for 2027-28, ESPN reported. Analyst Bobby Marks projects the team around $26 million over the second apron that season, with a potential tax bill above $200 million. Those figures are projections rather than a final payroll calculation.

The agreement gives Oklahoma City a contract decision on Wallace before he could reach restricted free agency next summer.