The Thunder acquired Theis (thumb) and additional draft compensation from the Pelicans on Wednesday, Shams Charania of ESPN reports.
The Pelicans were previously $1.4 million above the luxury tax, and Theis had an expiring $2.1 million contract, so moving him to the Thunder created more financial flexibility. In Oklahoma City, Theis will compete with Jaylin Williams for backup minutes at center behind starter Isaiah Hartenstein. Theis will likely make his debut Friday against the Raptors once the trade is made official. The veteran big man had missed the Pelicans' previous two games with a right thumb sprain, but the injury isn't believed to be anything significant.