OKC re-signs Felton, tax bill at more than $300 million

Raymond Felton has agreed on a one-year contract to return to Oklahoma City next season.

The Oklahoma City Thunder are bringing their backup point guard back for next season.

Adrian Wojnarowski of ESPN reports the Thunder have agree to a one-year, $2.4 million pact with veteran Raymond Felton.

In his first season with the Thunder, his eighth NBA team, the 6-foot-1, 205-pound 13-year veteran averaged 6.9 points, 1.9 rebounds and 2.5 assists in 16.6 minutes while playing all 82 games (2 starts) for the second time in his career.

The 34-year-old North Carolina product shot 40.6 percent from the field for Oklahoma City and 35.2 percent from beyond the 3-point arc.

Felton has averaged 11.4 points and 5.4 assists for his NBA career.

According to Wojnarowski, Felton’s signing will push the Thunder’s payroll and luxury tax to a new NBA threshold — $300 million.

If their roster remains intact though the end of the 2018-19 season, the Thunder will receive a luxury-tax bill of $150 million.