Chet Holmgren Secures $250 Million Extension with Oklahoma City Thunder After Historic Title Run

The Oklahoma City Thunder have agreed to a fully guaranteed five-year maximum rookie contract extension with center Chet Holmgren, potentially worth $250 million. This deal solidifies the 23-year-old as a franchise cornerstone and demonstrates the Thunder's commitment to maintaining their competitive rise.

Holmgren's extension follows a breakout postseason where he anchored the Thunder's defense and provided consistent production on both ends of the court. Despite missing significant regular season time due to a hip injury, he returned in February and played a pivotal role in the Thunder's championship run, averaging 15.2 points, 8.7 rebounds, and 1.9 blocks in 23 playoff games. His versatility and rim protection were instrumental in securing the franchise's first title, highlighted by key performances like a five-block Game 7 in the NBA Finals.

The contract begins after the 2025-26 season, increasing his salary from $13.7 million to an estimated $41 million annually (25% of the salary cap). It contains no player or team options and could escalate to 35% of the cap if Holmgren wins MVP, Defensive Player of the Year, or makes an All-NBA team. This structure mirrors the supermax extension recently given to Shai Gilgeous-Alexander. Drafted second overall in 2022, Holmgren missed his rookie season with a foot injury but finished second in Rookie of the Year voting in 2023-24, averaging 16.5 points, 7.9 rebounds, and 2.3 blocks while shooting nearly 38% from three-point range.

With Holmgren and Gilgeous-Alexander secured long-term, the Thunder are poised to extend fellow 2022 draftee Jalen Williams this summer. The franchise now faces managing a rapidly escalating payroll as its young stars mature, though abundant draft assets and a deep roster provide flexibility to remain competitive. General Manager Sam Presti's draft-and-development strategy has reached a new peak, making Oklahoma City the second-youngest NBA champion ever.