Cason Wallace, the Oklahoma City Thunder’s All-Defensive guard, has agreed to a five-year, $139 million rookie-scale contract extension, agents Jeff Schwartz, Max Lipsett and Marcus Monk of Excel Sports Management announced on Sunday.
Wallace, the No. 10 pick in the 2023 draft, earned second-team All-Defensive honors last season. He posted career highs of 8.6 points, 2.6 assists and 1.9 steals per game, and he led the NBA with 150 total steals.
Wallace’s development shaped the Dort trade
The 22-year-old’s growth and potential influenced the Thunder’s decision to part with longtime starting wing Luguentz Dort, an elite perimeter defender. Oklahoma City sent Dort 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.'”
Thunder’s payroll outlook
With Wallace signed, 13 of the Thunder’s current 14 rostered players are under contract for the 2027-28 season. Oklahoma City is projected to sit about $26 million over the second apron that season 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.