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Report: Thunder agree to four-year, $84 million contract extension with Victor Oladipo

Oklahoma City Thunder v Philadelphia 76ers

PHILADELPHIA, PA - OCTOBER 26: Victor Oladipo #5 of the Oklahoma City Thunder dribbles the ball against the Philadelphia 76ers at Wells Fargo Center on October 26, 2016 in Philadelphia, Pennsylvania. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. The Thunder defeated the 76ers 103-97. (Photo by Mitchell Leff/Getty Images)

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The Thunder were talking contract extensions with Steven Adams and Victor Oladipo, and it seemed they were making more headway with Adams.

But Oladipo beat him to the punch.

Shams Charania of Yahoo Sports:

Paying Oladipo $21 million per year seems fair enough. In league with a dearth of quality wings and an increased need for them in order to play small, Oladipo might have gotten a max deal in free agency. So, Oklahoma City shaves a little off a deal that could have paid about $26 million annually.

But Oladipo was also no lock to receive a max offer sheet. He has yet to shoot league average on 3-pointers, and his defensive presence is only beginning to be established. It would have been reasonable for the Thunder to gauge Oladipo’s development this year before committing so much money.

Still, the 24-year-old Oladipo is an excellent athlete who’s starting to put his defensive tools to good use. An improving 3-point shot could open the rest of his offense.

This is not a perfect bet. It is not a bad bet.

Oladipo’s extension could also open the door to Adams signing one. A concern with both extensions was reducing cap flexibility next offseason, but Oladipo’s extension already erases plenty of Oklahoma City’s maneuverability. An Adams extension would present diminishing losses in cap room at this point.

Also keep an eye on what Serge Ibaka gets this summer. The Thunder traded the pending unrestricted free agent for Oladipo, likely thinking locking up Oladipo would be easier than Ibaka.