NBA contract extension: Did Chet Holmgren just secure Oklahoma City Thunder’s most exciting long-term dea
Chet Holmgren signed with OKC (Image via NBA) 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 spot as a key member of the team alongside Shai Gilgeous-Alexander for the 2030–31 campaign. Despite prior injury worries, his championship contributions and potential are reflected in this fully guaranteed contract. It strengthened OKC’s resolve to establish a dynasty centered on their youthful core. He is qualified for a new deal at 25% of the cap with 8% yearly raises as a four-year veteran. As a result, their current maximum would be around $239 million over a five-year period.
Chet Holmgren’s massive new Oklahoma City Thunder deal signals a bold future
Chet Holmgren allegedly re-signed with the Oklahoma City Thunder on Wednesday on a five-year deal worth potentially as much as $250 million. Naturally, it’s a substantial sum that will provide Holmgren and his family with a stable future. The deal may potentially be worth $250 million due to a number of contract escalators, according to ESPN, which originally reported the arrangement and quoted 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 deal.In order to secure the entirety of their youthful core for years, the Thunder also extended their contract with Jalen Williams, another essential member of the championship squad.In the upcoming season, which is the last year of his rookie contract, Holmgren will earn $13.7 million before his compensation increases to roughly $41 million for 2026–2027 and the beginning of the extension.During the Thunder’s entire postseason run, Holmgren averaged 15.2 points and 8.7 rebounds in 23 games, which culminated with Oklahoma City defeating Indiana in a thrilling seven-game NBA Finals.One of the storylines that seemed to stay with Thunder general manager Sam Presti the most throughout the championship run was how Holmgren recovered from the injury. During his end-of-season discussion with reporters last month, Presti stated: “They went through a fair amount of adversity during the season… In reality, a lot of that adversity forged us into the team that we were, playing different lineups and being without certain players and then getting those players back, and the selflessness and humility that the players coming back had to have in order to fit into a team that was really cooking without them. Chet is one example of that, but we had many others.”
Chet Holmgren becomes a key player in the Oklahoma City Thunder’s championship journey
Holmgren shot 49% overall and 37.9% from three-point range last season, averaging 15 points, eight rebounds, two assists, and 2.2 blocks a game for Oklahoma City. In the 2022 NBA Draft, he was selected second behind Paolo Banchero of the Orlando Magic, but a foot ailment prevented him from playing in his first NBA season. After helping the Thunder go to the Western Conference playoffs in 2023–2024 by playing all 82 games, he was only able to play 32 games this past season due to a hip ailment.Holmgren, who averaged 16.1 points and 7.9 rebounds per game throughout his career, was a vital component of the team’s 2025 championship run. In 23 postseason 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 is qualified for the rookie supermax extension as well. He is starting the last season of a four-year rookie contract that will pay him a basic salary of $6.6 million in 2025–2026.Also read: NBA injury update: Is Devin Booker finally ready to return against the Oklahoma City Thunder in a high-stakes clash?
