What happened: Micah Peavy has agreed to a two-way NBA deal with the Oklahoma City Thunder, per ESPN's Shams Charania. The former New Orleans Pelicans draft selection joins Oklahoma City after clearing waivers earlier this week.

Why it matters: The agreement fills a developmental two-way roster spot for the Thunder during the opening week of the regular season. Peavy drew two-way interest after clearing waivers before finalizing his move to Oklahoma City.

What to watch: Peavy will be eligible to split the season between the Thunder and their G League affiliate once the deal is officially signed.