The Oklahoma City Thunder and guard Dion Waiters failed to reach an agreement regarding an extension deal as both sides decided to suspend the negotiation until the summer of 2016. 

In a statement by Thunder general manager Sam Presti, he mentioned that the huge boost in the salary cap in the upcoming offseason was the major factor that led to the organization and Waiters' side to table contract talks until July when he becomes a restricted free agent. 

Presti added regarding next summer's potential talks, "At that time, there should be a more complete and accurate picture, which allows us to find an agreement that meets everyone's objectives."

Waiters was the fourth overall pick by the Cleveland Cavaliers in the 2012 National Basketball Association (NBA) Draft and played nearly three seasons with the team before being traded to Oklahoma City. 

The 23-year-old is in his second season with the Thunder and in four games played so far is averaging 7.5 points, four rebounds, and 2.3 assists in 26.5 minutes of action per contest. 

Playing for the Thunder, Waiters found a steadier role as an off the bench player backing up the high-scoring duo of former Most Valuable Player (MVP) Kevin Durant and All-Star playmaker Russell Westbrook. 

Presti also mentioned in his statement how Waiters found a basketball home in Oklahoma City and how the organization sees him as a longtime contributor who will still develop.

This season will now be a test for Waiters to prove that he is worthy of a new and much lucrative contract. 

Oklahoma City is thriving this season and began its campaign with a 3–0 record before losing to the Houston Rockets last Monday, 110–105. 

Up next for Waiters and the Thunder will be a home stand at the Chesapeake Energy Arena today, Wednesday, facing the undefeated Toronto Raptors who are holding a perfect 4–0 record to begin the 2015–16 season.