The Thunder will acquire two draft exceptions and save $1 million in salary in a deal that sends Favors, guards Ty Jerome, Theo Maledon and forward Moe Harkless to the Rockets for David Nwaba, Sterling Brown, Trey Burke and Marquese Chriss, sources said.
The Thunder are sending a 2025 second-round pick acquired this week in another trade with the Atlanta Hawks, sources said.
The deal drops the Thunder approximately $10 million under the luxury tax threshold. After the trade, both the Thunder and Rockets have 18 guaranteed contracts on their respective rosters and will need to pare them down to 15 by October 17.
Harkless, who was acquired in the trade with Atlanta, can be moved again because he was absorbed into a Disabled Player Exception. Only Maledon and Nwaba are under contract for the 2023-2024 season -- both with team options.
Front office insider Bobby Marks contributed to this report.