The Miami Heat are trading Victor Oladipo and draft compensation to the Oklahoma City Thunder, who will absorb his $9.45 million expiring contract, sources told ESPN's Adrian Wojnarowski on Friday.
Miami creates a trade exception of $9.45 million with the deal.
Oladipo, who earlier this week exercised his option for the 2023-24 season, tore his left patellar tendon during the first round of the playoffs against Milwaukee in April. He underwent his third major surgery in the past four years -- the other two were on his right knee area -- and there is no timetable for his return.
He's well-regarded in the Thunder organization from the one season he spent in Oklahoma City (2016-17).
Oladipo was a two-time All-Star with Indiana before getting hurt in January 2019. Indiana traded him to Houston in January 2021. The Rockets traded him to Miami two months later; he played four games in March 2021 with the Heat before getting hurt again.
Oladipo appeared in just eight regular-season games in the 2021-22 season while recovering from a second surgery to repair his right quadriceps tendon. He got into 15 playoff games for Miami in 2022, then agreed on a two-year deal to stay with the Heat last summer.
He played in 42 games this season with Miami, his most in any regular season since 2017-18.