The Oklahoma City Thunder reportedly decided to part ways with Kyle Singler and waived him on Thursday.
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
According to ESPN’s Adrian Wojnarowski, the Thunder are going to use the stretch provision on Singler’s final year of his contract, which would make OKC pay off Singler’s contract over multiple years instead of having to pay it off this year.
Kyle Singler was expected to make roughly around $5 million in 2018-19, and the Thunder had a team option for the following year of his contract.
Thunder will save $23.4M in salary and luxury tax this year on stretching Singler’s $5M salary. https://t.co/vnAsYLyElN
— Adrian Wojnarowski (@wojespn) August 30, 2018
By releasing Singler, OKC now saves 23.4 million dollars in salary and luxury tax, which means their tax bill drops from 93.2 million dollars to 73.8 million dollars.
OKC has been making moves in the offseason that offer them a bit more flexibility in salary after being the first team in NBA history to have a team salary of $300 million, including the move to ship Carmelo Anthony to the Atlanta Hawks.
Kyle Singler didn’t receive much playing time playing in OKC. In the past season, Singler only got to play 12 games in the season and only played around 5 minutes a game, averaging 1.9 points a game.
