The Oklahoma City Thunder agreed to a one-year deal with Raymond Felton, according to ESPN's Adrian Wojnarowski, which will push the franchise into uncharted financial territory.
Bobby Marks of ESPN noted the Thunder will be the first team in NBA history to hit $300 million between the team payroll and luxury tax bill:
Bobby MarksOklahoma City crosses an historic threshold as the first $300M team in salary and projected luxury tax with the Raymond Felton signing. The Thunder now have a tax bill of $150M.
This article will be updated to provide more information on this story as it becomes available.