The Oklahoma City Thunder reportedly waived small forward Kyle Singler on Thursday.
According to ESPN's Adrian Wojnarowski, OKC will use the stretch provision on the final year of Singler's contract.
By using the stretch provision, the Thunder will spread Singler's remaining cap hit out over multiple years rather than incurring the full cap hit in 2018-19.
Wojnarowski noted that the move will save the Thunder $23.4 million in salary and luxury tax this year.
Per Spotrac, Singler was due to make just under $5 million in 2018-19, and the Thunder had a club option on his deal for 2019-20.