Oklahoma City Thunder star and 2025 NBA champion Chet Holmgren has agreed to a fully guaranteed five-year maximum rookie contract extension that could reach $250 million, agent Bill Duffy of WME Basketball told ESPN on Wednesday morning.
After missing three months during the season because of a hip injury, Holmgren returned in February and came back stronger to help lead the Thunder and their young core to the NBA title. Holmgren’s deal does not include a player option or team option.
Oklahoma City officials will move toward locking in All-NBA superstar Jalen Williams, who has momentum in his rookie extension talks.
The second-youngest team in NBA history to win a championship, the Thunder have now locked in Holmgren and league MVP and Finals MVP Shai Gilgeous-Alexander to long-term maximum extensions. On Tuesday, Gilgeous-Alexander signed a four-year, $285 million contract extension through the 2030-31 season.
Holmgren, 23, is part of a tightknit Thunder core set to play with each other and contend for an NBA championship for several years to come.
The No. 2 selection in the 2022 draft, Holmgren suffered the second major injury of his NBA career after he broke his pelvis in early November. He also missed his entire rookie season due to a ligament tear in his right foot.
Holmgren returned from the pelvis injury shortly before the All-Star break in February and finished the season averaging 15 points, 8 rebounds and 2.2 blocks while shooting 49% from the field and 37.9% from 3-point range. He went on to play in all 23 games during Oklahoma City’s title run, and his plus-169 plus-minus was the best mark of any player in the 2025 postseason, according to ESPN Research.
A lanky, 7-foot-1 center known for elite instincts and winning attributes, Holmgren is a key part of the Thunder’s historically great defense. He contested 93% of opponent’s shot attempts as the closest defender, the second-highest rate in the league since the start of last season, and led the NBA in field goal percentage allowed on layups and dunks last season among players to contest 100-plus shots, according to GeniusIQ. He also allowed the lowest field goal percentage (33%) of anyone who defended at least 40 shots in this year’s NBA Finals, per ESPN tracking.
Holmgren blocked 11 shots in the Finals alone, including five in Game 7 — the most by any player in an NBA Finals Game 7 since blocks became official in 1974. He’s one of just three players all time with 150 made 3-pointers and 250 blocks through the first two NBA seasons, along with Victor Wembanyama and Kristaps Porzingis.