The Oklahoma City Thunder's season starts on Tuesday with a bout against rival San Antonio, though extension talks are hanging over the debut.

The Thunder and Cason Walllace, the No. 10 draft pick from the 2023 NBA Draft, and a valuable contributor for OKC, will need to have an extension done in the coming hours to cement him as a long-term player for the franchise.

Below are the key points on what we know about Wallace’s contract decision with the OKC Thunder, and what could happen in the next few hours:

Wallace is vital to Oklahoma City’s game-plan, future

In a few short seasons, Wallace has established himself as one of the premier perimeter defenders in the league. Last year, he earned his first All-Defense bid, going for 1.9 steals per game with plenty of point-of-attack defense to show for it.

Wallace has been made all the more important by the trading of Luguentz Dort to the Atlanta Hawks, who was also a former All-Defense member. With Alex Caruso at 32, Wallace is the only player capable of offering long-term, elite perimeter defense.

Additionally, Wallace was one of the team’s best 3-point shooters in the postseason, shooting 50% on 5.1 attempts from beyond the arc in seven games versus San Antonio.

OKC Thunder and Wallace have til’ Oct. 19 to get a deal done

The Thunder and Wallace have until 5 p.m. CT on Monday, Oct. 19 to get an extension done, else Wallace will enter restricted free agency for the upcoming season.

In the short-term, little would change for both team and player. The Thunder remain one of the most competitive teams in the league, armed with an MVP, multiple co-stars and budding young players. Wallace would then be playing in a contract season, but has stated a few times he’s not worried about the financials, and more focused on simply competing.

Notably, the Thunder don’t have a lengthy history of retaining restricted free agents, though this could be a different case given Wallace’s impact, and the questions surrounding what other teams will offer him.

There’s been only one firm report on a potential deal

Over a week ago, Marc Stein reported on the The Stein Line that Wallace and the Thunder had begun extension talks in the $25 million range. No other outlets have reported details, and there’s been no further information regarding extension talks.

For now, $25 million does seem to be the ballpark, with some thinking the number too high due to current output, but others thinking teams could start closer to the $30 million range.

Regardless, retaining Wallace will be a top priority as the Thunder enter the home stretch.