Shaun Livingston has about as much ridiculous upside as one player can possibly have. The 6'7" point guard is just 23 years old, yet has already played in 149 games, despite missing nearly a season and a half after devestatingly shredding his knee while planting for a routine lay-up with the Clippers.
In the D-League, Livingston's numbers weren't all that impressive, averaging just 9.5 points and six assists per game, shooting 40% from the field in 11 games. He did show that the injury won't hinder him for long however, dunking several times over the last few games and showing the same court vision that earned him the fourth overall pick in the 2004 NBA Draft, straight out of high school.
The reason this makes sense is that Oklahoma City has a good a salary cap situtation that allows the team to sign Livingston just to guarantee his rights for the summer. They've apparently watched Livingston play enough this season to know he's healthy, as the Thunder own the 66ers. Being about an hour away, they've had plently of chances to watch him in person.
They're reporting it as a "multi-year" agreement, but all it really means is that they signed him for the rest of the season with probably a team option for next season. Signing him this way just secured his right for the summer. If Livingston is deemed to be healthy, he will more than likely take the spot of either Chucky Atkins or Earl Watson next season, as neither seem to be in the teams long-term plans, and both will be in the final year of their contract.