Oklahoma City opens 2026-27 at 0-0, still measured against last season's 64-18 finish and a net rating that topped the league. The price of keeping that roster together is $216.2 million, well past the $200.4 million tax threshold, and camp is opening without several rotation pieces at full health right now.

The Record That Still Counts
Last season ended at 64-18, the best mark Oklahoma City has posted since moving from Seattle. That number means nothing for 2026-27 by itself: the record now reads 0-0, and no preseason game has been played. The Thunder open exhibition play October 6 against the Pelicans, then host the Bucks the next night before back-to-back preseason trips to Atlanta and home games against the Pacers. The regular season starts October 20 at San Antonio, broadcast on NBC and Peacock. Every game between now and then adds to a fresh slate, not last year's mark.
An Efficiency Number Worth Watching
Oklahoma City's net rating last season was 11.1, the top mark in the league, built on an offense that ranked seventh (117.6) and a defense that finished first (106.5). That gap between offense and defense is the story of how the Thunder won: they suffocated opponents more than they blitzed scoreboards. None of it carries over automatically. Camp is dealing with calf, hamstring and ankle issues for Ajay Mitchell, Isaiah Hartenstein and Jalen Williams, each with an estimated return around October 1, before that formula gets tested again.
SGA's Bar, And The Bill
SGA averaged 31.1 points, 6.6 assists and 4.3 rebounds across 68 games last season, the kind of number that keeps this roster expensive. Jalen Williams counts $41.5 million against the cap this season. Holmgren matches that figure, and the total payroll runs to $216.2 million, well past the $200.4 million tax threshold and into apron territory. Oklahoma City still owns its own first-round picks outright starting in 2029, insulation for whatever bill comes due next. None of those figures is a promise of what happens on the floor once games start counting.
Is Oklahoma City's record still 64-18?
No. That was last season's final mark; the 2026-27 record is 0-0 with no games played yet.
How far over the luxury tax is Oklahoma City?
The payroll is $216.2 million against a $200.4 million tax threshold, putting the Thunder into apron territory for 2026-27.
More from The Bricktown Brief
all Thunder news →
Morning · Sun, Sep 20Camp Chatter Turns To Mitchell As The Preseason Slate Comes Into View
Player focus · Sat, Sep 19Chet Holmgren Enters Year Three as OKC's Two-Way Fulcrum
Rumor check · Sat, Sep 19Rumor Check: One Deal Confirmed, One Departure, No Room For More
Morning · Sat, Sep 19Tilly's Deal Gets A Number As Five Names Chase An Oct. 1 Return
Cap watch · Fri, Sep 18Cap Watch: The Second Apron Is Next Season's Real Test
The big question · Fri, Sep 18The Big Question: How Long Can Oklahoma City Pay For This Group?