The Oklahoma City Thunder has agreed to a fully guaranteed five-year maximum rookie extension with Chet Holmgren that could reach $250 million.

The deal cements the 23-year-old center as a franchise cornerstone and signals the Thunder’s commitment to sustaining their ascent in the league. Holmgren’s extension follows a breakout postseason in which he anchored Oklahoma City’s defense and delivered consistent production on both ends.

Despite missing significant time during the regular season with a hip injury, Holmgren 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 across 23 playoff games.

His versatility and rim protection were instrumental in securing the franchise’s first title, and his impact was felt in crucial moments, including a historic five-block performance in Game 7 of the NBA Finals.

Fully Guaranteed Deal Reflects Thunder’s Ambition

Holmgren’s new contract will begin after the 2025-26 season, with his salary jumping from $13.7 million to an estimated $41 million annually, in line with 25% of the NBA’s salary cap. The extension does not include player or team options, and could escalate to 35% of the cap if Holmgren garners MVP, Defensive Player of the Year, or All-NBA honors.

This structure mirrors the Thunder’s recent four-year, $285 million supermax extension with league MVP and Finals MVP Shai Gilgeous-Alexander, further solidifying a young core built for sustained contention.

Drafted second overall in 2022, Holmgren missed his rookie season due to a foot injury but rebounded to finish 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.

Oklahoma City’s Blueprint: Youth, Depth, and Stability

With Holmgren and Gilgeous-Alexander under long-term deals, the Thunder are poised to extend fellow 2022 draftee Jalen Williams, who is also eligible for a rookie max extension this summer. The franchise now faces the challenge of managing a rapidly escalating payroll as its young stars mature, but the abundance of draft assets and a deep, flexible roster provide the tools to remain competitive for years.

General manager Sam Presti’s vision of building through the draft and player development has reached a new peak, with Oklahoma City becoming the second-youngest team in NBA history to win a title. 

As Holmgren himself put it, the excitement of playing alongside versatile teammates in a system that values skill and adaptability is “super fun,” and with this extension, Oklahoma City ensures that its championship window remains wide open.