The Oklahoma City Thunder plan to stretch the contract of forward Kyle Singler and consequently place him on waivers, according to ESPN's Adrian Wojnarowski. Singler's waive-and-stretch will save the Thunder $23.4 million in combined salary and luxury tax this year by stretching his $5 million salary.

While $5 million isn't a huge figure, the Thunder have racked up quite an expensive bill after signing Steven Adams, Russell Westbrook, and recently Paul George to max extensions.

OKC is now victim of the repeater tax (teams that are over the max cap for three of the last four seasons), which transformed Singler's $5 million salary to nearly five times that ($4.75 per every dollar spent for every $5 million over $20 million over cap) — putting the Thunder's liabilities at a whopping $23.4 million for a player that averaged 1.9 points on 12 appearances last season.

Virtually speaking… the Thunder could get four DeMarcus Cousins(es) for that money at $5.3 million apiece and still have change to spare.

Oklahoma City will see their tax bill drop from $93.2 million to $73.8 million by using the stretch provision on Kyle Singler, according to ESPN Insider Bobby Marks. The Thunder will incur a $992,000 cap hit over the next five seasons ($5 million stretched over five years) and receive a minor set-off if the Duke products signs with another team.

Having traded Carmelo Anthony to the Atlanta Hawks and waived-and-stretched Singler, OKC has now saved $89.5 million in salary and luxury tax since July 15, when they sported a worrisome $300-plus million bill.

Kyle Singler is the one and only player likely to go through the stretch-and-waive provision before the Fri. Aug. 31 deadline, according to Marks. Ten players were waived-and-stretched last summer.