Thunder Secure Future with Chet Holmgren’s Contract Extension

The Oklahoma City Thunder have taken a significant step in solidifying their young team’s future by agreeing to a five-year, fully guaranteed contract extension with Chet Holmgren, potentially worth up to $250 million, as reported by ESPN Insider Shams Charania.

At just 23 years old, Holmgren is expected to play a crucial role in the Thunder’s championship aspirations this season, signing a highly sought-after rookie max extension.

Despite missing 50 games during the regular season due to a pelvic injury, Holmgren made a notable comeback in the playoffs. He participated in 23 postseason games, averaging 15.2 points, 8.7 rebounds, and 1.9 blocks over approximately 30 minutes per game.

Health has been a concern for Holmgren since his rookie season, as he was sidelined for the entire 2022-23 season due to a leg injury. However, he managed to play all 82 games in the 2023-24 season, achieving impressive averages of 16.5 points, 7.9 rebounds, and 2.3 blocks, with shooting splits of 53% from the field, 37% from three-point range, and 79.3% from the free-throw line. This strong performance earned him a second-place finish for Rookie of the Year, just behind Victor Wembanyama.

Holmgren’s contract extension comes a week after his teammate, Shai Gilgeous-Alexander, the NBA MVP, signed a massive $285 million extension with the Thunder. The next likely step for the franchise may involve securing Jalen Williams on a comparable rookie maximum extension, which would help maintain the core group moving forward.

Charania has mentioned there are signs of “movement” regarding an agreement between the Thunder and Williams, indicating progress in that direction.

The Thunder drafted Holmgren and Williams together in 2022, allowing both players to sign rookie scale extensions. Holmgren was selected as the second overall pick in the draft, following star Paolo Banchero, who has recently signed his rookie max extension.