The Oklahoma City Thunder sorted out their finances, at least in the short-term, this offseason.
They were able to duck both the second apron and a number of hefty luxury tax penalties (the latter of which was likely the actual priority) by moving on from Luguentz Dort, Aaron Wiggins, and Isaiah Joe in separate trades. Those moves leave their trio of young guards—Cason Wallace, Ajay Mitchell, and Jared McCain—with major roles to play for the Thunder as they attempt to reach the summit again in 2026-27.
Wallace and Mitchell will compete for the starting role in the backcourt left vacant by Dort's departure. The likely scenario, as of now, seems to be that Wallace will take on starting duties while Mitchell will operate as an dynamic sixth man in partial tandem with Shai Gilgeous-Alexander. McCain, meanwhile, will take on the minutes that were split between Wiggins and Joe as the Thunder's primary perimeter-shooting wing.
All three of these players have the capabilities to be major pieces for a championship-contending team. All three are also eligible for extensions between this offseason and next.
As excellently as Oklahoma City's trade for McCain has played out so far, therefore, the reality is that Mitchell and Wallace should both take precedent over the young guard in terms of the team's financial priorities. That doesn't mean the Thunder will be forced to move McCain, but it does mean they'll need to at least start considering other long-term options on the wing.
Jared McCain has a place in the future of this Thunder squad—but can they make the finances work?
The trade for McCain was another Sam Presti masterclass no matter how you want to spin it. Although it came at the cost of a chunk of Oklahoma City's treasure trove of draft capital, McCain showed immediate upside as a playoff-level contributor, hitting his shots with confidence and even acclimating to the Thunder's defensive scheme before the end of the season.
But part of the reason the trade brings so much value to Oklahoma City is that McCain still has two seasons left on his rookie deal. He'll get paid just over $11 million over the next two seasons, and he's virtually guaranteed to out-perform that number as he continues to develop.
When it comes to the rotation, though, both Wallace and Mitchell seem to have more long-term upside. Wallace is one of the league's premier perimeter defenders, and if he can continue to improve on the offensive end of the court, we could see him start to exceed what Dort was able to accomplish during his heyday in Oklahoma City. Mitchell, meanwhile, presents a ball-handling and downhill offensive skill-set that isn't really present in the rest of the Thunder's backcourt outside of Gilgeous-Alexander.
Extending both of those players must be the first priority for the Thunder's front office, even if both command somewhere in the range of $25 million annually.
As of now, it seems like McCain might come in somewhere closer to the $18-20 million range if he doesn't see significant development as a complementary playmaker and defender over the next couple of seasons. If Oklahoma City is willing to move off of, say, Isaiah Hartenstein or Alex Caruso to fit the first year of both Mitchell and McCain's extensions onto the books, then there's certainly a path to keeping all three young guards on the roster.
But at the end of the day, the reality is that McCain doesn't take precedent over the Thunder's pair of rising young stars. It shouldn't be an immediate concern for Oklahoma City (and that's the beauty of the trade in the first place), but it's something that will need to be seriously considered as soon as McCain and Mitchell become eligible for extensions next offseason.
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