According to ESPN’s Adrian Wojnarowski, the Oklahoma City Thunder will waive and stretch Kyle Singler on the final year of his contract.
Oklahoma City is using the waive and stretch provision on final year of Kyle Singler’s contract, league sources tell ESPN.— Adrian Wojnarowski (@wojespn) August 30, 2018
This move will save the Thunder $23.4M in salary and luxury tax this year through Singler’s $5M salary. ESPN’s Bobby Marks added some info on Oklahoma City’s tax bill below.
Oklahoma City will see their tax bill drop from $93.2M to $73.8M by using the stretch provision on Kyle Singler. The Thunder will incur a $992K cap hit over the next five seasons on Singler and would receive a minor set-off if the forward signs with... https://t.co/8D5FyGNkEK— Bobby Marks (@BobbyMarks42) August 30, 2018
Between waiving Singler and trading Carmelo Anthony, the Thunder have now saved $89.5M in salary and luxury tax since July 15, per Marks. The waive and stretch provision deadline is August 31, and it appears Singler will be the only player to which it will apply. Ten players were waived and stretched last offseason.