Chet Holmgren has been handsomely rewarded by the Oklahoma City Thunder. The seven-foot-one center has reportedly agreed to a rookie max contract extension worth up to $250 million. He will earn the full $250 million if he meets certain criteria going forward. Moreover, Holmgren will also qualify for the Rose Rule provision if he makes an All-NBA Team or wins Defensive Player of the Year. Holmgren has become a key part of Oklahoma City’s star trio, which also features Shai Gilgeous-Alexander (SGA) and Jalen Williams. At age 23, the Thunder recognize that Chet Holmgren’s best basketball days are ahead of him. As a result, they have wasted no time in locking up the former Gonzaga Bulldog long-term.
Chet Holmgren, Oklahoma City Thunder Agree to Five-Year Rookie Max Contract Extension
Chet Holmgren’s Importance to the Thunder
Holmgren is vital to the young core of the Oklahoma City Thunder. There is a reason he was selected with the second overall pick of the 2022 NBA Draft. Holmgren has developed into one of the most versatile big men in the league. He was instrumental in the Thunder’s championship run this past season. While he missed a significant portion of the regular season, appearing in only 32 games, the Thunder big man averaged 15.0 points, 8.0 total rebounds, and 2.2 blocks per game.
In the playoffs, Holmgren tallied 15.2 points, 8.7 total rebounds, and 1.9 blocks per game in 23 playoff games en route to the Thunder’s first championship victory in Oklahoma City. What is scary for the rest of the NBA is that Holmgren has not reached his full ceiling yet, which will only benefit the Thunder going forward. With his skillset, it makes sense why the Thunder wasted little time in extending their young center. However, today’s NBA landscape has made it harder than ever for a team to repeat as champions.
Oklahoma City’s Current Chances at Repeating
As of July 9th, 2025, the Thunder are the favorites to repeat as champions at +250 odds per FanDuel. Of course, a lot can still happen before the start of the new season. While the Thunder have made sure that Chet Holmgren and Shai Gilgeous-Alexander aren’t going anywhere for the foreseeable future, questions still surround the supporting cast and their future with the organization. This uncertainty is especially relevant given the current collective bargaining agreement. Especially with the second apron salary cap rules that have already impacted recent NBA championship teams.
Some analysts even argue that Jalen Williams, SGA’s co-star, deserved a new deal before Holmgren. Despite all of this, Oklahoma City still appears to be the favorite next year. The organization is doing everything it can to maintain its championship core. If Chet Holmgren continues to develop at his current pace, the Thunder very well could be the first team to repeat as NBA champions since the Golden State Warriors in the late 2010s.
