The Oklahoma City Thunder tried to hash out an agreement on an extension with Dion Waiters, but they failed to do so before the deadline passed on Monday night. There were reports earlier this offseason that the Thunder were actively pursuing an extension with Waiters, but in the end both sides decided to hold off. Even though the Thunder didn't extend Waiters, it still seems pretty likely that he will remain in Oklahoma City long-term, according to Anthony Slater of The Oklahoman.
Waiters has spoken highly of Oklahoma City since he got there in the middle of last season, and he has made it clear that he would like to stay long-term. The 23-year-old shooting guard has said that the team is extremely close and he really enjoys playing there. For their part the Thunder have also spoken highly of Waiters, as they believe he is an extremely talented player with a lot of potential, so there is mutual interest there, but the timing wasn't right for an extension now.
An extension at this point doesn't make much sense for either side, so it was wise to hold off. Waiters' value is pretty low, as he has not lived up to his potential since entering the NBA. Waiters has been a high-volume shooter since getting into the league and has been extremely inefficient, as he is a career 41 percent shooter from the field. If Waiters can break out this year and have a good season - he's not off to a great start (7.0 PER) - then he can increase his value.
The Thunder had similar reasons for not wanting to extend him now. The Thunder like Waiters' talent and his potential, but they also believe he has been way too inconsistent to make a long-term investment in him. If Waiters has a good season, like they think and hope he will, then they will have no problem giving him a long-term deal.
General manager Sam Presti said that although an agreement was not reached, the they will get back to negotiating in the summer so that they can work on a deal that is mutually beneficial.
"Given the true and unknown impact of the pending salary cap spike and its impact on team building, salary values, and the potential for further changes to the cap system itself as a whole prior to the summer, Dion, his representation and the Thunder agreed that with such lack of clarity it's best to pick up the conversations in July. At that time, there should be a more complete and accurate picture which allows us to find an agreement that meets everyone's objectives," said Presti.