OKLAHOMA CITY — The Oklahoma City Thunder met its number one contender and biggest threat to repeating as NBA champions in the San Antonio Spurs. After winning six of eight games without All-Star Victor Wembanyama, the Spurs beat the Thunder not once, not twice, but three times in December, including a 20-point blowout two days before a 117-102 Christmas Day victory at the Paycom Center. All with a limited Wembanyama coming off the bench.
The Spurs snapped the Thunder’s perfect 14-0 home record and are now responsible for more than half of the defending champions’ losses this season. We’re witnessing a power shift in the Western Conference, as seeds the Spurs planted well before an NBA Cup semifinal were flowering before our eyes in the first of three matchups in 12 days between San Antonio and the Thunder.
Overshadowed by the Thunder’s near-perfect start and a 16-game win streak, the Spurs continued to evolve with and without Wembanyama, who missed a month due to a left calf injury. Led by a diverse group of seasoned, versatile scorers such as De’Aaron Fox, Devin Vassell, and Keldon Johnson, in combination with promising young talent in Stephon Castle and Dylan Harper, the Spurs’ offense caused fits against the best defense in the NBA.
With at least three guards who can create their own offense, facilitate, and defend at a high level, the Spurs’ starting lineup thrives without Wembanyama. Two — Fox and Castle — can score off the dribble, forcing the Thunder defense to collapse more often than not. Vassell makes 40% of his attempted threes, and Fox is entering his prime, averaging 21.6 points and shooting 38.3% from 3-point range, a career best.
After Thursday’s loss, Thunder All-Star Shai Gilgeous-Alexander said what was already on some people’s minds during his postgame media availability.
“You don’t lose to a team three times in a row in a short span without them being better than you,” Gilgeous-Alexander said. “We have to get better. Look in the mirror, and that’s everybody from top to bottom, if we want to reach our ultimate goal.”
Shai Gilgeous-Alexander: “We have to get better as group. You don’t lose to a team three times in a row in a short span without them being better than you.
We have to get better. Look in the mirror, and that’s everybody from top to bottom, if we want to reach our ultimate goal” pic.twitter.com/g6tBBqGhOZ
— Josue Pavón (@Joe_Sway) December 25, 2025
A necessary message from the league’s reigning MVP, especially after the Spurs handed the defending champions two blowout losses in two days. While snapping the Thunder's undefeated streak at home, the Spurs nearly ended Gilgeous-Alexander's streak of scoring 20+ points. They limited him to 22 points on 7-of-19 shooting, including 1-for-6 from deep.
This goes beyond the Spurs making a statement — it’s a threat — one the Thunder need to take seriously as a whole, not just as a Wembanyama issue, as head coach Mark Daigneault noted.
“They’re a really good team. He’s obviously a very impactful player, but he missed a good amount of time, and they didn’t miss a beat when he was out,” Daigneault said. “Then, when he’s off the floor, they don’t miss a beat when he’s out. So, it’s not surprising at all. They got really good players. They play well as a team. They’re well-coached.
“They execute really well, and he’s obviously impactful, and adds to that. But it’s not like him and the rest of the team at all. They’ve got a very good team,” Daigneault concluded.
And so is the Thunder, as Oklahoma City’s depth has been one of the many storylines surrounding the defending champion’s historic 24-1 start without key players, such as All-Star Jalen Williams, who missed the first 19 games. Daigneault’s starting lineup has played in only three games together, resulting in a 0-3 record against a Spurs team with its best player, Wembanyama, coming off the bench.
The fact that the Spurs pulled off such a feat — handing the Thunder three losses — that most likely won’t be matched by any other team with a limited Wembanyama, is jarring for Oklahoma City because Wemby is only going to get better. And the same can be said about the rest of the 2025-26 Spurs.
What went wrong for Thunder in losses to Spurs?
Thunder head coach Mark Daigneault has to find ways to maximize his frontcourt production against the Spurs, starting with Chet Holmgren finding his offensive rhythm in the fourth quarter, where it's disappeared in his last two games. ESPN’s Kendrick Perkins says the Spurs’ defense punked Holmgren on Christmas Day, and he’s not wrong.
The Spurs did everything they could to disrupt Chet, including being physical, double-teaming, and a little bit of trash-talking, as Wembanyama continues his campaign to prove the two are incomparable. Holmgren finished 5-for-9 from the floor, but didn't attempt a single shot in the fourth quarter of Thursday's loss.
He pulled a similar disappearing act in the Thunder's 20-point loss (130-110) two days before Christmas, going 0-for-1 in the final frame of a game where Holmgren finished with seven points on 3-for-10 shooting. The Spurs' suffocating defense has made Chet a non-factor down the stretch, especially when the Thunder resort to guards jacking up threes amidst a two-possession game, where the deficit balloons into double figures. Alex Caruso finished 2-for-12 from deep.
Holmgren showed promise to earn his first All-Star selection before running into the Spurs in December. That All-Star caliber production dips to 11.3 points on 41% shooting, including 25% from deep, 7.3 rebounds, and 1.0 blocks per game against the Spurs.
The Thunder finished 11-for-44 (25%) from deep against the Spurs, as a handful of those misses turned into fast-break opportunities, especially in the fourth quarter. For the third time in 12 days, the Spurs out-executed the Thunder in the final frame.
However, unlike the 111-109 NBA Cup loss in Las Vegas, the Spurs outplayed the Thunder early in the fourth quarter. To the point where Daigneault, for the second time in two days, emptied his bench, while the Thunder's newfound rivals — the Spurs — took a victory lap once more.
With only a 2.5-game lead atop the Western Conference, the defending champion knows the Spurs are not only well ahead of schedule but are also best equipped to regain the NBA throne.
