Chet Holmgren Signs 5-Year Max Extension with Thunder

The Oklahoma City Thunder clinched their inaugural NBA title last June. The organization will now prioritize defending their championship.

The Thunder made considerable progress toward achieving that aim Wednesday, as they reportedly secured a five-year maximum contract extension with prominent center Chet Holmgren, as reported by Shams Charania of ESPN.

The agreement could potentially reach $250 million.

Holmgren, 23 years old, posted averages of 15 points and 8 rebounds across 32 regular-season games for the team. He elevated those figures during the team’s playoff journey, recording 15.2 points and 8.7 rebounds in 23 postseason appearances. He achieved seven double-doubles throughout that span.

When in good health, Holmgren has fulfilled the potential he demonstrated at Gonzaga prior to the Thunder selecting him as the No. 2 overall pick in the 2022 NBA Draft. Over his NBA tenure, Holmgren has compiled averages of 16.1 points and 7.9 rebounds.

Injuries have presented a challenge for the emerging star. He was sidelined for his entire rookie season due to a Lisfranc injury in his foot. Holmgren made a comeback the subsequent season, finishing as the runner-up in Rookie of the Year voting after participating in 82 games. He trailed San Antonio Spurs phenomenon Victor Wembanyama in the voting process.

While Holmgren exhibited another promising start during the 2024-25 season, a hip injury compelled him to miss a substantial portion of the regular season. He appeared in only 32 games for the Thunder, with the team achieving a 26-6 record in those games.

Upon his return, Holmgren was gradually integrated back into the lineup. Although his statistical performance remained consistent, the team reduced Holmgren’s playing time as the season progressed. This strategy shifted during the playoffs, with Holmgren logging significant minutes in each of the Thunder’s 23 playoff games.

Following their championship victory, the Thunder entered the offseason facing several crucial decisions. Holmgren’s extension was arguably the most critical of these actions, although Jalen Williams — whom the team selected as the No. 12 overall pick in the 2022 NBA Draft — also became eligible for a maximum contract extension during the offseason. With Holmgren’s situation resolved, the team can now direct its focus toward Williams.

Securing Holmgren with a long-term contract should ensure that the Thunder remain formidable contenders for another NBA title both in the upcoming year and in the years ahead. While the team’s young core is beginning to command higher salaries, maintaining the cohesion of those players for as long as possible represents the optimal approach for the Thunder to achieve consecutive championships.

The team undoubtedly considered this factor when reaching an agreement on a new contract with Holmgren.