On July 20, 2007, Phoenix sent Kurt Thomas and its 2008 and 2010 first-round picks to Seattle for a conditional 2009 second-round pick, while Phoenix received an $8 million trade exception. Seattle used the 2008 first on Serge Ibaka and the 2010 first on Quincy Pondexter, then later traded Thomas for additional assets. The combination of usable veteran value, two first-rounders and Ibaka's long-term impact makes this one of the strongest returns in the Seattle-to-Oklahoma City transition.
Phoenix's official announcement and Basketball-Reference agree on the July 20, 2007 structure. The Suns sent Kurt Thomas plus their own 2008 and 2010 first-round picks to Seattle for a conditional 2009 second-round pick. Phoenix also received an $8 million trade exception, not the $9 million figure carried by the legacy archive entry. The Suns openly framed the move around salary relief and roster flexibility, while Seattle was rebuilding around Kevin Durant and Jeff Green.
The first 2008 pick became No. 24, Serge Ibaka. That alone creates substantial realized value: Ibaka developed into a long-term defensive anchor for the Oklahoma City core and played 14 NBA seasons. Basketball-Reference credits the No. 24 pick to Seattle, and the Thunder's own historical profile describes the organization selecting Ibaka at No. 24 after scouting him internationally. The 2010 first became No. 26, Quincy Pondexter, adding another first-round asset to the return. Kurt Thomas also was not dead salary from Seattle's perspective. He gave the club part of the 2007-08 season and was then traded to San Antonio on February 20, 2008 for Brent Barry, Francisco Elson and a 2009 first-round pick. Seattle waived Barry, but the ability to turn Thomas into another first shows that the veteran component retained transaction value beyond his short stay. The original deal therefore produced both immediate optionality and multiple draft assets rather than relying entirely on one lucky pick outcome.
The Suns received the conditional 2009 second-round pick that Basketball-Reference later maps to No. 57, Emir Preldžić, along with the $8 million trade exception and the intended financial relief. Contemporary Associated Press reporting described the move as a salary-cutting decision after Phoenix signed Grant Hill and while the team was already carrying a high payroll. That context explains the transaction, but financial flexibility does not erase the basketball assets surrendered.
Seattle receives an A+ because it converted cap capacity into Thomas, two first-round picks and eventually Ibaka, then extracted more value from Thomas in a later trade. Phoenix receives a D+ because the club achieved the intended salary relief but surrendered the best long-term basketball asset and an additional first to do it. The verdict remains Seattle SuperSonics Win. The grade credits only traceable assets from this transaction and its direct downstream chain rather than unrelated Oklahoma City success.