NBA Contract Extension: Did Chet Holmgren Just Reach Oklahoma City Thunder’s Most Exciting Long-Term Deal? | NBA News
In July 2025, the Oklahoma City Thunder announced that they had signed Chet Holmgren to a five-year rookie contract extension worth up to $250 million. This guaranteed him a place as a key member of the team alongside Shai Gilgeous-Alexander for the 2030-2031 campaign. Despite previous injury concerns, his championship contributions and potential are reflected in this fully guaranteed contract. This strengthened OKC’s resolve to establish a dynasty centered around its young core. He is qualified for a new contract at 25% of the cap with an 8% annual raise as a four-year veteran. Therefore, their current maximum would be approximately $239 million over a five-year period.
Chet Holmgren’s massive new deal with the Oklahoma City Thunder signals a bold future
Chet Holmgren reportedly re-signed with the Oklahoma City Thunder on Wednesday on a five-year deal potentially worth up to $250 million. Of course, this is a substantial sum that will provide Holmgren and his family with a stable future. The deal could potentially be worth $250 million due to a number of contract escalators, according to ESPN, which initially reported the deal and cited agent Bill Duffy. Since the Thunder won the NBA championship last month, this is their third significant extension. Shai Gilgeous-Alexander, the current scoring champion, NBA Finals MVP and Kia MVP, received the other, a four-year, $285 million contract.To secure its entire youth core for years to come, the Thunder also extended the contract with Jalen Williams, another vital member of the championship team.In the upcoming season, which is the final year of his rookie contract, Holmgren will earn $13.7 million before his compensation increases to approximately $41 million for 2026-27 and the start of the extension.Throughout the Thunder’s playoff run, Holmgren averaged 15.2 points and 8.7 rebounds in 23 games, which culminated with Oklahoma City’s victory over Indiana in a thrilling seven-game NBA Finals.One of the storylines that seemed to stick most with Thunder general manager Sam Presti throughout the championship run was how Holmgren recovered from his injury. During his end-of-season chat with reporters last month, Presti said: “They went through quite a bit of adversity during the season… Really, a lot of that adversity built us into the team that we were, playing different formations and being without certain players, and then getting those players back, and the selflessness and humility that the returning players had to have to fit into a team that was really cooking without them. Chet is one example, but we’ve had many others.»
Chet Holmgren becomes key player in Oklahoma City Thunder’s championship run
Holmgren shot 49% overall and 37.9% from three-point range last season, averaging 15 points, eight rebounds, two assists and 2.2 blocks per game for Oklahoma City. In the 2022 NBA Draft, he was selected second behind Paolo Banchero of the Orlando Magic, but a foot illness kept him from playing his first NBA season. After helping the Thunder qualify for the Western Conference playoffs in 2023-24 by playing in all 82 games, he was only able to play 32 games last season due to a hip ailment.Holmgren, who averaged 16.1 points and 7.9 rebounds per game throughout his career, was a vital part of the team’s run to the 2025 championship. In 23 playoff games in 2025, he recorded eight double-doubles.Holmgren, the second overall pick in the 2022 draft, joined Jalen Williams, the 12th overall pick, in the NBA. Williams also qualifies for the rookie supermax expansion. He is entering the final season of a four-year rookie contract that will pay him a base salary of $6.6 million in 2025-26.Also Read: NBA Injury Update: Is Devin Booker finally ready to return against the Oklahoma City Thunder in a high-stakes matchup?
