Report: Thunder, Chet Holmgren agree to $250M extension

Chet Holmgren and the Oklahoma City Thunder agreed to a five-year contract extension worth up to $250 million, ESPN reported Wednesday.
The contract is fully guaranteed and comes on the heels of Oklahoma City’s landmark contract with NBA MVP Shai Gilgeous-Alexander. SGA agreed to a four-year, $285.4 million super maximum contract extension through 2031 to become the league’s highest-paid player at more than $71 million per season.
The 7-foot-1 Holmgren, 23, has been impactful when he’s on the court. Injuries limited him to 32 regular-season games with a hip injury last season. He also missed his rookie season with a foot injury.
With career averages of 16.1 points and 7.9 rebounds per game, Holmgren proved to be a critical piece for the team’s run to a title in 2025. He had eight double-double performances in 23 postseason games in 2025.
The No. 2 pick in the 2022 draft, Holmgren entered the NBA alongside Jalen Williams, the No. 12 pick that year. Williams is also eligible for the rookie supermax extension. He’s entering the final season of a four-year rookie deal with a $6.6 million base salary in 2025-26.