Chet Holmgren Just Signed a CRAZY Extension

Chet Holmgren Just Signed a CRAZY Extension Chet Holmgren Just Signed a CRAZY Extension
Apr 9, 2025; Phoenix, Arizona, USA; Oklahoma City Thunder forward Chet Holmgren (7) reacts against the Phoenix Suns during the first half at Footprint Center. Mandatory Credit: Mark J. Rebilas-Imagn Images

The Oklahoma City Thunder are making headlines as they’ve successfully secured center Chet Holmgren with a fully guaranteed five-year rookie max extension worth up to $250 million. This move follows on the heels of a hefty four-year supermax extension for star guard Shai Gilgeous-Alexander, rumored to be around $285 million. The Thunder are clearly intent on solidifying a core that has set its sights on a championship voyage.

23-year-old Holmgren, who was a standout in the 2024-25 season averaging a solid 15 points, 8 rebounds, and 2.3 blocks, proved his defensive mettle during the playoffs. Despite missing a significant chunk of that season due to a hip injury, his playoff performances – averaging 15.2 points, 8.7 rebounds, and 1.9 blocks across 23 games – were pivotal to the team’s defensive efforts.

Drafted as the No. 2 overall pick from Gonzaga in 2022, Holmgren faced an initial setback with a Lisfranc injury to his right foot, sidelining him for his entire rookie season. However, he bounced back in his debut season in 2023-24, putting up 16.2 points per game across 82 regular-season games and finishing second in Rookie of the Year voting to San Antonio Spurs’ rising star Victor Wembanyama. The Thunder’s playoff run saw them bow out in six games against the Dallas Mavericks during the Western Conference semifinals.

This extension comes at a pivotal moment for Oklahoma City, as they’re eyeing a similar long-term commitment for Jalen Williams this summer, aiming to keep their promising core intact. Holmgren’s full max deal, devoid of both player and team options and without the “Rose Rule” enhancements, sets the stage for Williams to negotiate a contract of equivalent, if not greater, value, especially if he clinches another All-NBA spot.

Oklahoma City is currently enjoying a fiscal sweet spot before its trio of rising stars – Holmgren, Williams, and Gilgeous-Alexander – become financially formidable. While this could lead to difficult roster decisions in the future, the team’s present cap situation allows them some leverage in navigating potential salary cap challenges from 2026 to 2029. It’s clear the Thunder are not only planning for today but are strategically mapping a financially sound path for the coming years.