Oklahoma City Thunder All-Defensive guard Cason Wallace has agreed to a five-year, $139 million rookie-scale contract extension, agents Jeff Schwartz, Max Lipsett and Marcus Monk of Excel Sports Management told ESPN's Shams Charania on Sunday.
Wallace, the No. 10 pick in the 2023 draft, was a second-team All-Defensive selection last season. He averaged career highs of 8.6 points, 2.6 assists and 1.9 steals per game and led the NBA in total steals with 150.
The 22-year-old Wallace's development and potential factored into the Thunder's thought process in parting with longtime starting wing Luguentz Dort, an elite perimeter defender who was sent to the Atlanta Hawks in a cost-cutting trade this summer.
"I would just say Cason is someone we think very highly of and has done a great job for us," Oklahoma City general manager Sam Presti said during his media availability before training camp. "I think the greatest sign of respect we could have shown Cason is moving Lu in that trade. 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.'"
With Wallace signed, 13 of the Thunder's current 14 rostered players are under contract for the 2027-28 season. The Thunder are projected to be around $26 million over the second apron that season, according to ESPN's Bobby Marks, and could face a tax bill that exceeds $200 million.
Wallace has averaged 7.9 points, 2.2 assists and 1.5 steals in 227 career games, including 114 starts. He has also appeared in all 48 of the Thunder's playoff games during his tenure.
