After winning the 2025 NBA Finals, the Oklahoma City Thunder are paying their young core. At the beginning of July, it was announced that 2024-25 MVP Shai Gilgeous-Alexander got a record-setting 4-year, $285 million extension. 

Along with SGA, Chet Holmgren is the latest Thunder star to get a big-time deal. ESPN’s Shams Charania announced Wednesday that Holmgren signed a five-year maximum rookie extension. It’s a fully guaranteed deal that could reach up to $250 million. That’s $535 million in contracts for just two players this offseason. Jalen Williams is up next for OKC.

Chet Holmgren cashes in on a lucrative long-term deal with the Thunder

Breaking: Oklahoma City Thunder star and NBA champion Chet Holmgren has agreed to a fully guaranteed five-year maximum rookie contract extension that could reach $250 million, his agent told @ShamsCharania. pic.twitter.com/Jlb863df4y

— ESPN (@espn) July 9, 2025

In the 2022 NBA draft, the Thunder used the second overall pick to select Chet Holmgren out of Gonzaga. Unfortunately, Holmgren suffered a foot injury during a preseason game for OKC. It was a Lisfranc injury that required surgery, and he missed the entire 2022-23 season. However, Holmgren bounced back in 2023-24 by starting all 82 games for Oklahoma City. He averaged a career-high 16.5 points per game and finished second in Rookie of the Year voting.

San Antonio’s Victor Wembanyama took home the award. To start the 2024-25 season for OKC, Chet Holmgren was playing well. On November 10, Holmgren suffered a pelvic fracture and missed 39 consecutive games due to injury. The 23-year-old started 32 of 82 games for the Thunder this past season. Most importantly, Holmgren was fully healthy for their playoff run.

Chet and OKC have agreed to a five-year, $250M rookie contract extension, per @ShamsCharania 💰🔥

He and SGA are now making a combined $535M 🤯 pic.twitter.com/2tt4FPWR4w

— Bleacher Report (@BleacherReport) July 9, 2025

He started all 23 postseason games for the Thunder in 2025. Holmgren averaged 15.2 points, 8.7 rebounds, 1.0 assists, and 1.9 blocks. OKC won the NBA Finals, and they’re rewarding their young core this offseason. Shai Gilgeous-Alexander has been paid. Chet Holmgren is the latest to get a long-term deal. ESPN’s Shams Charania announced Holmgren has signed a five-year max rookie extension worth up to $250 million.

The young center will have $239 million fully guaranteed, according to his agent, Bill Duffy of WME Basketball. Chet Holmgren is an elite defender who can block anyone’s shot. In the NBA Finals, Holmgren recorded 11 blocks. Five of those came in Game 7 to clinch a championship. Additionally, Holmgren is one of three players all-time to have 150 made 3-pointers and 250 blocks through the first two NBA seasons. He joins Kristaps Porzingis and Victor Wembanyama. Next up for the Thunder is agreeing to a long-term extension with SF Jalen Williams.

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