Chet Holmgren Agrees To 5-Year, $239 Million Extension With Thunder

Chet Holmgren and the Oklahoma City Thunder have reached an agreement on a five-year, $239 million rookie max extension. The contract can be worth as much as $250 million if Holmgren meets certain incentives. ESPN’s Shams Charania was first to report.

All five years are guaranteed without any player or team options.

Holmgren has been an integral piece in the Thunder’s rise to contention status, culminating in a title this past June. He averaged 15.0 points, 8.0 rebounds, 2.0 assists and 2.2 blocks in 32 games this season. He shot 49 percent from the field, including 37.9 percent on threes.

Following a tremendous start to the season, Holmgren broke his pelvis in November while landing after attempting to block a shot. It forced him to miss three months of action.

Holmgren finished the championship run averaging 15.2 points, 8.7 rebounds and 1.9 blocks. He did struggle beyond the arc, though, making just 29.7 percent of his attempts. His postseason ended in style, racking up 18 points, eight rebounds and five blocks in Game 7 of the NBA Finals.

The extension marks the second bit of crucial business for the Thunder this summer. Shai Gilgeous-Alexander recently inked a four-year, $285 million extension and next on the docket will be All-Star Jalen Williams, who’s also in line for a rookie max extension.

Holmgren Deal Signals Stability For Thunder

Many have speculated the Thunder are set to dominate at least the next half-decade. That was always contingent on maintaining the franchise’s core pieces.

There may have been Oklahoma City fans holding their breath after the previous generation’s big three of Kevin Durant, Russell Westbrook and James Harden was broken up for financial reasons.

The money doled out to Gilgeous-Alexander, Holmgren, and, eventually, Williams is a clear show of intent to extend the team’s success.

A huge aspect in showing this willingness to spend also comes down to the plethora of draft picks general manager Sam Presti has been able to secure over the next several years.

That should enable the Thunder to keep funneling in cost-controlled players who can also contribute. The main challenge will be maintaining a high level of continuity and chemistry as the rotation pieces likely change around the core.