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Report: Thunder to waive and stretch Kyle Singler

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OKC will save $23.4 million in salary and luxury tax through this provision.

NBA: Oklahoma City Thunder at Memphis Grizzlies Nelson Chenault-USA TODAY Sports

According to ESPN’s Adrian Wojnarowski, the Oklahoma City Thunder will waive and stretch Kyle Singler on the final year of his contract.

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.

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.