The new NBA Collective Bargaining Agreement (CBA) introduces significant changes that will affect how teams like the Oklahoma City Thunder (OKC) manage their roster and utilize their deep treasure trove of draft picks. While OKC is currently in an enviable position with its wealth of future picks and young stars, the new NBA CBA brings both challenges and opportunities as their core players—Shai Gilgeous-Alexander (SGA), Jalen Williams (JDub), and Chet Holmgren—develop into potential All-Stars.
1. New NBA CBA and Its Key Impact on Roster Construction
The new CBA introduces a set of financial guardrails that will significantly challenge teams like OKC if they plan to build and maintain a roster with multiple max-level contracts. Specifically, the introduction of the second apron—set at $17.5 million above the luxury tax threshold—comes with severe penalties that impact both roster-building tools and financial flexibility. For the Thunder, who could see Shai Gilgeous-Alexander (SGA), Jalen Williams (JDub), and Chet Holmgren evolve into All-Stars requiring max deals, the implications are far-reaching.
Financial Sustainability Under the Second Apron
The Thunder’s current roster benefits from rookie-scale contracts and SGA’s already locked-in max extension. However, if JDub and Holmgren both develop into max-level players, OKC will quickly face a financial crunch:
- Three Max Contracts: With SGA already earning ~$40 million annually and Holmgren and JDub due for extensions by 2026, OKC could be staring at $120+ million committed to three players. This alone would push them toward the luxury tax threshold and flirt with the second apron, particularly as role players on smaller contracts seek raises.
- Depth Issues: Once above the apron, adding low-cost veterans to complement star players becomes far more difficult. Under the new NBA CBA:
- Teams cannot use the taxpayer mid-level exception to sign free agents.
- Trade restrictions prevent teams from aggregating salaries to acquire higher-priced players.
- Future first-round picks are frozen (limited to late slots) or lose flexibility for trades.
- In OKC’s case, the second apron penalties force a reliance on cost-controlled draft picks to fill out the roster, as acquiring ready-made veterans would be far more challenging.
The Importance of Draft Pick Utilization
OKC’s historic collection of draft picks becomes even more critical under the new NBA CBA, both as a tool to sustain competitiveness and manage their cap situation:
- Drafting Cheap Talent: First-round picks on rookie-scale contracts will be OKC’s best bet for maintaining depth once their stars are on max deals. For example, by staggering when draft picks are signed (or deferred to later drafts), OKC can ensure a steady influx of affordable talent to support SGA, JDub, and Holmgren.
- Restrictions on Trading Picks: The new second apron rules severely limit how draft picks can be used in trades for teams above the threshold. For OKC, this means that as they near the second apron, they may lose the flexibility to package multiple picks for a star player or upgrade the roster via trades. Their strategy will have to shift toward using the picks to draft, rather than flipping them for high-priced talent.
- Deferred Swaps: Picks like the 2025 swap with the Clippers or Rockets could become crucial in replenishing cheap talent without creating financial strain. The NBA CBA will make OKC’s ability to maximize their picks—not just acquire them—essential for maintaining roster balance.
2. Rookie Contracts and Cap Space Advantage
Right now, OKC benefits from having key players on rookie-scale deals, which gives them the cap flexibility to build around their stars:
- Chet Holmgren (rookie contract until 2026)
- Jalen Williams (JDub) (rookie contract until 2026)
- Shai Gilgeous-Alexander is already signed to a max deal through 2027.
This means OKC has a 2-3 year window where they can take full advantage of this flexibility to add more talent, absorb contracts, or trade for veterans without severe financial penalties. The Thunder can also explore extending Holmgren and Williams in a staggered manner to push their max contracts further into the future.
3. Is It Sustainable to Have 3 All-Stars?
In short: Yes, but OKC needs to be nearly perfect in how they navigate the challenges of the new NBA CBA. Having three homegrown stars—Shai Gilgeous-Alexander (SGA), Jalen Williams (JDub), and Chet Holmgren—is not only possible, but it’s exactly what the Thunder front office has been preparing for. However, staying competitive and financially sustainable will require a level of precision and patience that we’ve rarely seen in the modern NBA.
Luxury Tax Management: Staggering the Max Contracts
If you’ve watched every Thunder game over the past two years, it’s clear that SGA, JDub, and Chet Holmgren have the potential to be the next great NBA trio. SGA has cemented himself as a top-10 player in the league, carrying OKC night after night with his ability to break down defenses and get to the line. Meanwhile, JDub has quietly become one of the most complete young wings in the NBA, offering secondary playmaking and a growing offensive arsenal. Chet Holmgren, even coming off an injury last year, is showing why he’s such a game-changing two-way presence.
But as all three develop into max-level players, the luxury tax—and specifically the second apron—will loom large. The Thunder front office must be strategic about timing extensions:
- SGA is already under contract through 2027, giving the Thunder stability with their centerpiece.
- JDub and Holmgren are still on their rookie deals, with their extensions likely kicking in between 2026-2027. OKC has to stagger these extensions and potentially delay Holmgren’s max by one year with a qualifying offer to maintain some financial breathing room.
While this buys OKC time, it doesn’t eliminate the long-term pressure. Once all three stars are locked into max deals, OKC will be walking a fine line between competing for championships and avoiding financial penalties that could cripple their flexibility.
Draft Capital: Cheap Talent Is the Lifeline
This is where OKC’s historic collection of draft picks becomes essential. Over the next seven drafts, the Thunder will control up to 37 picks (15 first-rounders and as many as 27 second-rounders). It’s not just impressive; it’s the deepest draft capital war chest the league has ever seen.
But here’s the thing: draft picks are only valuable if you use them wisely. Under the new NBA CBA, teams over the second apron lose access to tools like the taxpayer mid-level exception and flexibility in trades. For OKC, this means they’ll need to rely on rookie-scale contracts for rotational depth rather than chasing veteran free agents.
What does this look like in practice?
- Hitting on Picks: OKC must nail their draft selections, prioritizing low-cost players who can contribute immediately. Sam Presti has already proven his genius in this department—picking JDub at 12 in 2022 looks like a steal—but the margin for error shrinks as the team’s stars become more expensive.
- Cost-Controlled Upside: Picks that don’t fit the immediate rotation can be used to acquire young, undervalued players still on their rookie deals. This avoids the cap consequences of trading for higher-priced veterans. Think of it as the Thunder creating a “conveyor belt” of talent—constantly replenishing the bench with young, cheap contributors who keep the team competitive without breaking the bank.
- The Trade Market: Right now, OKC has the flexibility to package multiple picks for a star player if the opportunity arises. However, once they’re over the apron, the NBA CBA prevents teams from aggregating salaries in trades. This means the Thunder need to strike before they hit that threshold.
The sheer volume of picks gives OKC options: they can use them to draft, trade, or delay selections into future drafts. But their ability to sustain three All-Stars hinges on turning this draft capital into tangible on-court value.
The 5v5 Limit: Quality Over Quantity
Basketball is still a 5-on-5 game, and OKC doesn’t need more stars—they just need the right stars. If SGA, JDub, and Holmgren all reach their ceilings, the Thunder already have a core capable of competing for championships. This reduces the need to pursue high-priced free agents or trade for another star.
Instead, OKC’s draft picks can be used to fill crucial rotational roles:
- Shooting: Surrounding SGA and JDub with elite floor-spacing shooters will force defenses to pick their poison.
- Defense: Holmgren is already a game-changer on defense, but adding versatile wings and defenders on rookie contracts will allow OKC to maintain its identity as a hard-nosed, switchable team.
- Bench Production: Depth wins championships, and OKC can use its picks to find cost-effective players who can provide reliable minutes off the bench.
The Window Is Now: OKC’s Opportunity Before the Apron Hits
For Thunder fans who’ve been watching closely, the team’s current cap flexibility feels like a once-in-a-lifetime opportunity. The combination of SGA’s max deal, JDub and Holmgren’s rookie contracts, and a treasure chest of draft picks means OKC is perfectly positioned to make moves before the CBA’s restrictions begin to bite.
- The Thunder can be aggressive over the next two seasons, adding veteran role players, flipping picks for high-upside talent, or trading for a star to bolster their chances of contending.
- Once JDub and Holmgren sign their extensions, OKC’s window for bold moves will close. At that point, the focus will shift to sustaining success through the draft and internal development.
4. Trade Strategy Moving Forward
The new NBA CBA will make it harder to rely on trades to build super teams, especially for tax-paying teams. However, OKC’s massive collection of picks gives them unique leverage:
- They can package picks to trade for established players who fit their timeline before their core becomes too expensive.
- They could also trade picks for future assets, delaying the influx of rookie-scale contracts and ensuring long-term roster flexibility.
The 2025 pick swap with the Clippers or Rockets could be particularly valuable. If one of those teams struggles next season, OKC could gain another high lottery pick, giving them even more ammunition.
5. Long-Term Outlook for OKC Under the NBA CBA
- Short Term (2-3 years): OKC has cap space, draft flexibility, and a young core still on rookie contracts. This is their best opportunity to add talent without worrying about luxury tax penalties.
- Medium Term (4-5 years): As Holmgren and JDub enter their max-contract years, OKC will have to make tough decisions about extensions, trades, and how to use their remaining draft capital. At this stage, their ability to hit on draft picks and develop young players will be critical for roster depth.
- Long Term (5+ years): If OKC builds correctly, they could have a homegrown core of stars supported by low-cost contributors from the draft. They will need to balance keeping SGA, JDub, and Chet happy financially while staying under the second apron.
The new NBA CBA introduces challenges for teams trying to balance multiple max contracts, but OKC is in a strong position to adapt. With smart roster management, their immense draft capital, and careful financial planning, OKC can absolutely sustain having 3 All-Stars while remaining competitive.
Their current window with SGA, JDub, and Chet offers a rare opportunity to build a dynasty, but it will depend on how they manage their picks, develop young players, and navigate the restrictions of the new CBA. If they play their cards right, OKC could dominate the Western Conference for years to come.
