Thunder Open Season as Defending Champs, Preseason Favorite to Repeat

The Oklahoma City Thunder begin the 2025-26 season as defending NBA champions and the clear preseason favorite to repeat, according to league decision-makers, even as they navigate early preseason games, roster management and injuries. The Thunder, who clinched their first title last season after a 103-91 Game 7 win over the Indiana Pacers, have opened training camp with most of their core intact and a mix of promising young contributors showing up in exhibition play.

An annual anonymous survey of NBA general managers found 80 percent picked Oklahoma City to win the 2025-26 Finals and 87 percent forecast the Thunder to win the Western Conference. That confidence rests on a core led by Shai Gilgeous-Alexander, who was league MVP last season, along with All-Star forward Jalen Williams and seven-footer Chet Holmgren. The club signed long-term extensions for those three in the offseason and returned key rotation players including Alex Caruso, Lu Dort, Isaiah Hartenstein, Isaiah Joe, Aaron Wiggins and Cason Wallace.

Oklahoma City has split early preseason games. The Thunder never trailed in a 135-114 win over the Charlotte Hornets, a contest in which several regulars were rested, and...