Cason Wallace’s contract situation has become one of the bigger subplots around the Oklahoma City Thunder just as the season gets underway.
The Thunder open Tuesday against San Antonio, but the bigger deadline is already looming. Oklahoma City and Wallace, the No. 10 pick in the 2023 NBA Draft, have until 5 p.m.
CT on Monday, Oct. 19 to agree to an extension. If they don’t, Wallace will head into restricted free agency for the upcoming season.
That would not change much in the immediate sense. The Thunder still enter the year as one of the league’s most formidable teams, built around an MVP, multiple co-stars and a wave of young talent. Wallace, for his part, has made it clear he isn’t stressing over the money side and is focused on competing.
Still, the stakes around his future are obvious. In just a few seasons, Wallace has carved out a reputation as one of the NBA’s top perimeter defenders. He picked up his first All-Defense selection last season and averaged 1.9 steals per game, with his point-of-attack work standing out.
His importance only grew after the trading of Luguentz Dort to the Atlanta Hawks. Dort was also an All-Defense caliber player, and with Alex Caruso now 32, Wallace stands as the Thunder’s only long-term answer for elite perimeter defense.
He also flashed on the biggest stage for Oklahoma City in another way. In seven games against San Antonio in the postseason, Wallace hit 50% of his 3s on 5.1 attempts per game, making him one of the team’s best shooters from deep in that series.
The Thunder do not have a long track record of keeping restricted free agents, but this case may be different because of Wallace’s value and the possibility of outside interest. Marc Stein reported over a week ago on The Stein Line that extension talks had started in the $25 million range, and there has been no additional reporting since then.
That figure has already sparked different reactions. Some consider it too rich based on his current production, while others believe the market could begin closer to the $30 million range.
For now, the broad picture is simple: Wallace is too important for Oklahoma City not to treat his extension as a priority as the team moves into the stretch of the season.
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