Fresh off claiming their first NBA title, the Thunder wasted little time locking down their core.
On Wednesday, the organization agreed to terms on a max rookie five-year extension with former No. 2 pick Chet Holmgren, according to ESPN’s Shams Charania.
Holmgren, 23, is already one of the league’s most impactful two-way talents. He’s dealt with his fair share of injuries thus far, but if he’s healthy, he’s formidable, offering three-point shooting, defensive versatility, and an off-the-dribble game that is fairly unprecedented for a player of his size.
Here’s what you need to know.
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Chet Holmgren contract details
- Years: 5
- Value: Up to $250 million
Holmgren netted quite a raise on Wednesday, agreeing to terms on a five-year deal that can earn him up to $250 million if he makes an All-NBA team or wins MVP or Defensive Player of the Year. With a max annual value (AAV) of $50 million, Holmgren could be one of 17 players to make $50 million annually when his contract kicks in at the start of the 2026-27 campaign.
Holmgren, 22, enjoyed a sizzling second season in 2024-25, averaging 15.0 points, 8.0 rebounds, 2.0 assists, and 2.2 blocks across 32 games in the regular season. The Gonzaga product suffered through additional injury woes, having fractured his pelvis in November. He missed 39 games as a result of the malady, not returning to the floor until February.
Still, Holmgren produced. He anchored an Oklahoma City defense that proved the league’s most fearsome in postseason play. And although his numbers paled in comparison to those of All-NBA teammates Shai Gilgeous-Alexander and Jalen Williams, his impact was paramount: Holmgren’s +169 plus/minus in the playoffs was the highest mark in the league.
All that amounted to a big-money extension for the Thunder big, the second of OKC’s triad to receive such rewards. He’s not expected to be the last, either.
MORE: Tracking the latest NBA free agency moves
Thunder salary cap
Oklahoma City wasted little time fortifying its championship core. Earlier in the offseason, the Thunder inked Gilgeous-Alexander to a four-year, $285 million deal. Now comes Holmgren, whose cap hit will represent about 16.7 percent of OKC’s salary cap when his extension kicks in.
Williams, a Third-Team All-NBA selection, is also expected to tie down his future with the Thunder this offseason. He’s likely to field a bigger payday than Holmgren on account of his accolades.
Oklahoma City also agreed terms with Alex Caruso (four years, $80 million) and Jaylin Williams (three years, $24 million), further entrenching its bench. With assets littered across the roster — both in the form of players and assets — the future beckons for the NBA champions, both in 2025-26 and beyond.
Chet Holmgren stats
| Season | Games | MPG | PPG | RPG | APG | FG% | 3P% | FT% |
| 2023-24 | 72 | 33.8 | 20.0 | 6.9 | 3.7 | 42.7% | 29.8% | 73.8% |
| 2024-25 | 32 | 27.4 | 15.0 | 8.0 | 2.0 | 49.0% | 37.9% | 75.4% |