Thunder and Holmgren agree to Jaw-Dropping $250M Extension

Chet Holmgren and the Oklahoma City Thunder reached an agreement on the fully guaranteed five-year maximum rookie contract extension that could reach $250 million, according to ESPN’s Shams Charania. This is a landmark move for the Thunder as a team because Holmgren is already one of the elite defenders in the league and can become a more efficient scorer if his development continues. 

This is the second extension that the Thunder have done this offseason with a member of their Big 3, as SGA just got his huge deal, so they will need to get J-Dub done as soon as possible as well, but that would put them definitely in that dreaded second apron. Here’s more on the Holmgren extension. 

Chet Holmgren’s 2024 Season in Review 

As the Thunder reached the pinnacle of winning the franchise’s first championship in Oklahoma City in 2024-25, Holmgren was a key part of that moment for this franchise, as he was pretty solid after coming back from that fractured hip that he had early in the season. From February on, Chet was no doubt a strong asset for this championship Thunder team. SGA’s deal had to get done first, as he was electric throughout the season, but this is interesting for the Thunder to sign Holmgren next before J-Dub. 

We will soon see how the Thunder handle Jalen Williams’ situation; however, securing the versatile center is also huge, as Holmgren has the potential to become a better player than Williams eventually. Williams will also receive a substantial contract this offseason. 

Final Thoughts

Holmgren and the Thunder are getting this deal done at the right time, which is key when it comes to the finances of the Big 3. We shall see how the Thunder handle the rest of the finances shortly, but extending the former 2022 second overall pick was the plan all along, and the Thunder managed to get it done at the right time. Total Apex Sports has plenty of stories on the 2025 NBA Offseason on the site right now and will continue to have more over the rest of the offseason.