Thunder Sign Micah Peavy to Two-Way Contract

Oklahoma City adds the 25-year-old guard following a roster spot opening due to injury.

Updated on Oct. 23, 2026 in Basketball

Thunder Sign Micah Peavy to Two-Way Contract

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The Oklahoma City Thunder have signed 25-year-old guard Micah Peavy to a two-way contract. The move follows the team waiving rookie Otega Oweh, who is expected to miss the entire 2026-27 season due to a ruptured right Achilles tendon.

Why it matters

The Thunder utilized the roster opening created by Otega Oweh’s season-ending injury to bring in Peavy, a 2025 NBA Draft selection. Two-way contracts allow the organization to develop players between their main NBA roster and G League affiliate.

Micah Peavy was the 40th overall pick in the 2025 NBA Draft and recorded a 38.5% field goal percentage during his 61 games with the New Orleans Pelicans. He also maintained a 25.9% mark from three-point range during that season.

The players

Micah Peavy

He is a 25-year-old guard who was selected 40th overall in the 2025 NBA Draft.

Otega Oweh

He is an injured rookie guard who was waived by the Oklahoma City Thunder.

Oklahoma City Thunder

They are a professional basketball team competing in the National Basketball Association.

The details

Peavy joins the Thunder organization after previously being waived by the Memphis Grizzlies. The 25-year-old guard looks to bolster depth for Oklahoma City after Otega Oweh suffered a ruptured right Achilles tendon, sidelining the rookie for the 2026-27 campaign.

September 2026: Micah Peavy was traded to the Memphis Grizzlies.
2025-26 season: Micah Peavy played for the New Orleans Pelicans.
Oct 25, 2026: The Oklahoma City Thunder are scheduled to host the Los Angeles Clippers.
2026-27 season: Otega Oweh is expected to miss this entire season.

Season Trajectory

This roster move allows the Thunder to maintain developmental depth as they navigate the 2026-27 season without Otega Oweh. It positions Peavy as a potential contributor while the team manages the competitive balance of their rotation.

Peavy is now eligible to split time between the Thunder and their G League affiliate, providing the team with an extra body in practice and reserve situations. His addition does not immediately impact the starting rotation but offers a contingency plan for guard depth.

The takeaway

Two-way contracts offer franchises a flexible way to fill roster gaps created by sudden injuries while supporting long-term player development. Fans should watch for how the team balances these developmental players with veteran rotations during home games.