Examining Thunder's Salary Cap, Decisions for 2026 NBA Free Agency after Spurs Loss

On the doorstep of another trip to the NBA Finals, the Oklahoma City Thunder missed a chance to defend their championship.

Sweeps of the Phoenix Suns and Los Angeles Lakers sent the squad into the Western Conference Finals, where OKC built a 3-2 series lead. However, the San Antonio Spurs fought back and bounced the Thunder.

Disappointment? Yes. Undoubtedly.

Thanks to years of meticulous roster-planning and cap management, though, OKC is positioned to remain an elite NBA contender.

All salary and contract data via Spotrac and HoopsHype.

2026 Salary Cap

Zach Beeker/NBAE via Getty Images

Chet Holmgren and Jalen Williams

The well-executed long-term vision of smart trading, talent identification and in-house development led to OKC's ascent.

Now, it's time to pay up.

Extensions for both Chet Holmgren and Jalen Williams kick in next season, as both players are set to earn $41.25 million. Shai Gilgeous-Alexander is due $40.8 million before his supermax deal begins in 2027-28.

Alex Caruso ($19.6 million), Isaiah Joe ($11.3 million), Aaron Wiggins ($9.2 million) and Jaylin Williams ($7.8 million) have notable deals, as well.

So, even before considering team options for Isaiah Hartenstein, Lu Dort and Kenrich Williams, OKC has surpassed the projected $165 million salary cap. Ultimately, the Thunder cannot afford to keep all of their talent. Staying below the punitive $222 million second apron is likely the goal.

It's a great problem to have. Nonetheless, it's a problem.

Top Contract Decisions

Joshua Gateley/Getty Images

Isaiah Hartenstein

First, the team options.

Oklahoma City needs to determine if its future includes any or all of Hartenstein ($28.5 million), Dort ($18.2 million) and Kenrich Williams ($7.2 million). Also, would any of them be willing to return at a lower rate?

That initial answer will dictate what happens next—and next is likely a trade, or perhaps a series of trades, to shed salary.

From there, it's a matter of how boldly OKC's front office wants to proceed. Jalen Williams is destined to keep floating in trade rumors, while players such as Wiggins or Joe could be cap casualties.

The depth of young talent—Cason Wallace, Ajay Mitchell and Jared McCain—who could handle more minutes is what facilitates and complicates this outlook.

Free Agents to Pursue

NBA Photos/Getty Images

Sam Presti

Based on the current cap sheet, free agency does not really exist for OKC.

Technically speaking, sure, the Thunder will sign a few players. The exact number will hinge on team options and trades, but re-signing Hartenstein or Kenrich Williams—while advisable—is not exactly a traditional free-agent splash.

Oklahoma City, which also holds the No. 12 and No. 17 selections in the 2026 NBA draft, will be limited to scouring the market for bench players.

Could the Thunder find a veteran on a minimum contract, say Tim Hardaway Jr. or Gabe Vincent if chasing a ring is a priority? A player who wants to experience a winning environment, perhaps Marvin Bagley III? Someone who might need a change of scenery, like Cam Thomas?

Expectations should be tempered, given the precious few minutes available in OKC's rotation. No free agent will be added to occupy a major role, barring a roster-shaking Jalen Williams-type trade.