Russell Westbrook and the Oklahoma City Thunder have agreed in principle to a renegotiated contract, as first reported by ESPN's Ramona Shelburne. The deal is for three years and $85-plus million, according to The Vertical's Adrian Wojnarowski. Westbrook is reportedly flying to Oklahoma City on Thursday morning to make it official.
From The Vertical:
The proposed deal would include a player option on the third year, which would clear the way for Westbrook to return to free agency in 2018.
In the structure of a proposed deal, the renegotiation would move Westbrook's salary in 2016-17 from $17.8 million to a $26.5 million max salary. Westbrook would make $28.5 million in 2017-18 and $30.6 million in the third year under the proposed renegotiated deal. Oklahoma City is able to offer the extension because it has the appropriate salary-cap space available.
From the Thunder's official release on Thursday:
The Oklahoma City Thunder has signed guard Russell Westbrook to a contract extension, it was announced today by Executive Vice President and General Manager Sam Presti. Per team policy, terms of the deal were not disclosed.
"I am grateful to extend my contract with the Thunder and continue to play with the only organization that I have played for and have loved being a part of since I was drafted into the NBA," said Westbrook. "I'm really excited about moving forward with this group of guys and continuing to play in front of the best fans in the world."
...
"Russell has been an outstanding leader of this team since he was drafted by our organization eight years ago. His competitiveness, character, and unique athletic ability have propelled him to the forefront of the game," said Presti. "Russell personifies many of the traits that are synonymous with Oklahoma and Oklahomans. We are excited that Russell has chosen to continue to build the legacy of the Thunder with us as we move forward together."
Five things to know:
- OKC general manager Sam Presti deserves a ton of credit. This possibility has been talked about since the Fourth of July, when Kevin Durant decided to leave the Thunder to join the Golden State Warriors. If Westbrook and the Thunder had not reached a deal, then he would have become an unrestricted free agent next summer, leaving Presti vulnerable to losing a superstar in back-to-back years. That is a nightmare scenario, and the Thunder did not want to trade Westbrook, so a renegotiate-and-extend agreement became the front office's top offseason priority.
- Westbrook wins here, too. For him, this essentially means he's getting a raise and deferring his free agency by a summer or two, depending on whether he exercises his player option. He will not have to worry about trade rumors, at least for the next year, and he has not committed to spending his entire prime in Oklahoma City. Another bonus: As of the summer of 2018, he will have 10 years of NBA experience, so he will be eligible for a maximum contract starting at 35 percent of the salary cap. Financially, signing a long-term deal makes more sense then than next summer.
- OKC's future is looking a lot brighter now. It still stings to lose Durant for nothing, but a core of Westbrook, Steven Adams and Victor Oladipo is not bad. Westbrook can be a part of the Thunder's recruiting efforts next summer, but first and foremost they have to hope he has an MVP-caliber season and they make the playoffs without Durant. That would be the sort of free-agent pitch that speaks for itself.
- The cheers on opening night will be insane. Westbrook was already extremely popular in Oklahoma City, but he'll never feel more like a hero than he will when next season starts. He's now not only the fiery superstar every team would love to have -- he's the guy who stayed. Exactly one month after his co-star decided to go elsewhere, Westbrook doubled down on the Thunder, putting his trust in Presti to make the team a contender again.
- There's still pressure on Presti. This is a massive victory for him, but his job is not about to get any easier. Regardless of what Westbrook says at the press conference to announce this deal, the fact he can walk in 2018 or 2019 means that the front office has to improve the team before then. Adams and Oladipo are both on rookie contracts that will expire next summer, and both might command maximum deals, so it's not as if Presti has a ton of long-term flexibility. He's going to have to get creative in order to make sure Oklahoma City remains the best place for Westbrook when he does eventually hit free agency.
