OKC Thunder: Can Lindy Waters III Get a Full Contract Again Next Season?

Lindy Waters III signed a two-way deal this offseason, but he has an opportunity to get back to a full contract next season.

After the Oklahoma City Thunder declined to bring back Waters in June, he spent some time as a free agent before the team picked him up on a two-way contract in August. Since first signing with the Thunder on a two-way deal in February 2022, the Oklahoma State product has spent his entire NBA career in Oklahoma City.

The Thunder converted Waters to a standard contract near the end of the 2022-23 season. And while Waters has already done it once, getting back on the Thunder’s standard 15-man roster will pose a tougher challenge for him next season.

For starters, Oklahoma City has a better and deeper roster than in years past and is part of why Waters’ option was declined. With additions such as Cason Wallace and Vasilije Micic, minutes for Waters on the wing could be difficult to find, particularly early in the season.

Since minutes won’t be there for him over the first few weeks, Waters will likely get reps with the Blue in the G-League. Excelling early in the season for the Blue is something he has done before and will need to repeat to work his way back to NBA minutes.

He needs to show he is the Thunder’s best option as a replacement when rotation pieces inevitably miss time. If he can impress when he gets those opportunities, he may be able to claim a spot in the rotation as the season progresses.

A bump in his 3-point shooting could help his cause after shooting 35.8% last season. Waters has already shown he can hold his own defensively, so if he can live up to his reputation and hit around 40% from deep, the case to convert his contract would be strong.

Being a regular contributor would probably be enough to earn Waters a full contract, but availability for the postseason could be the Thunder’s deciding factor. Under league rules, players on two-way contracts are ineligible to participate in the play-in and playoffs.

If Waters’ play is convincing enough to earn minutes in the regular season, it would make sense for Oklahoma City to want him on the team beyond the first 82 games. That likely played a role in Oklahoma City’s decision to convert him last season as Waters emerged as a viable option as the team worked toward a postseason appearance.

Waters played in the Thunder’s two play-in games, including a 16-minute outing against the Minnesota Timberwolves. Although his impact was minimal in those games, it did signal that the Thunder saw him as someone they could trust in high-pressure scenarios.

If Waters can take advantage of his opportunities, he could find himself back on a full contract and may have a spot in Oklahoma City for the foreseeable future.