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Micah Peavy agrees to a two-way contract with the Thunder

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The Oklahoma City Thunder host the Miami Heat at Paycom Center in March 2024Thunder vs. Heat at Paycom Center, March 2024. Photo: HutchDoesStuff / Wikimedia Commons | CC0. Cropped.

Free agent wing Micah Peavy has agreed to a two-way contract with the Oklahoma City Thunder, Shams Charania and Michael Scotto report.

The move requires a corresponding cut. Oklahoma City’s three two-way slots are held by Brooks Barnhizer, Josh Dix and Otega Oweh, and one of them will have to be waived to make room for Peavy. Oweh, a 2026 second-round pick, suffered a season-ending Achilles rupture during the preseason.

Peavy, the 40th overall pick in the 2025 draft, spent his rookie season on a standard contract with the Pelicans before New Orleans traded him to Memphis over the summer. The Grizzlies waived him on Monday amid a roster crunch, and he cleared waivers on Wednesday.

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