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According to a report from ESPN's Shams Charania, the Oklahoma City Thunder have agreed to a two-way contract with forward Micah Peavy. Peavy, who was recently waived by the Memphis Grizzlies and subsequently cleared waivers, now joins Oklahoma City's roster.
The signing coincides with the Thunder's reported decision to waive rookie Otega Oweh, who suffered a ruptured right Achilles tendon during the preseason. Oweh is anticipated to sit out the entire 2026-27 campaign, creating a vacancy that Peavy will fill.
Peavy, 25, was chosen with the 40th overall pick in the second round of the 2025 NBA Draft. He began his professional career with the New Orleans Pelicans during his rookie season before being traded to Memphis in September.
During the 2025-26 season with New Orleans, Peavy appeared in 61 games and averaged 4.3 points, 1.9 rebounds, and 1.0 assist in 15 minutes per contest. He shot 38.5% from the field and 25.9% from beyond the arc, converting 28 of his 108 3-point attempts.
Before turning pro, Peavy played college basketball at Texas Tech, TCU, and Georgetown. In his final collegiate season at Georgetown, he was a teammate of Thomas Sorber, Oklahoma City's 2025 first-round draft pick, who is currently recovering from knee surgery and has yet to make his NBA debut.
Peavy joins Josh Dix and Brooks Barnhizer as the Thunder's two-way players, occupying the roster spot previously held by Oweh. Two-way contracts permit NBA teams to develop players between their NBA roster and G League affiliate, the Oklahoma City Blue.
Oklahoma City returns to action on Sunday, Oct. 25, when they host the Los Angeles Clippers at Paycom Center.
Key Analysis
The Thunder's decision to sign Peavy to a two-way deal reflects a strategic move to maintain roster flexibility after Oweh's season-ending injury. Peavy's brief NBA experience and collegiate pedigree, including his connection to Sorber, could provide depth and developmental potential. As a two-way player, Peavy will have opportunities to hone his skills with the Oklahoma City Blue while remaining available for the Thunder, underscoring the organization's emphasis on player development and roster adaptability.
Originally reported by news9.