In a significant move for the Oklahoma City Thunder, Chet Holmgren has officially agreed to a fully guaranteed five-year maximum rookie contract extension. This news was reported by ESPN’s Shams Charania via Twitter, marking a pivotal moment in Holmgren's professional career.
Holmgren's first-year salary under this lucrative extension is projected to start at 25% of the 2026/27 NBA salary cap, as noted by ESPN's Bobby Marks. Based on the NBA’s latest salary cap projections, this deal could ultimately total a staggering five years and $240 million. This substantial contract not only underscores Holmgren's potential but also reflects the Thunder's confidence in his abilities moving forward.
Drafted second overall in the 2022 NBA Draft, Holmgren has faced his fair share of challenges due to injuries in his early career. After missing the entire 2022/23 season due to a foot injury sustained in the offseason, Holmgren made a remarkable comeback, starting every game during the 2023/24 season. Throughout this season, he averaged an impressive 16.5 points, 7.9 rebounds, 2.4 assists, and 2.3 blocks per game.
Despite a pelvic fracture limiting him to just 32 regular-season games last season, Holmgren showcased his talent and resilience. He posted averages of 15.0 points, 8.0 rebounds, 2.0 assists, and 2.2 blocks prior to the playoffs. Remarkably, he played a crucial role in the postseason, starting all 23 games and contributing to the Thunder's first championship since relocating to Oklahoma City. During the playoff run, Holmgren averaged 15.2 points, 8.7 rebounds, 1.0 assists, and 1.9 blocks, proving himself as a vital player for the team.
With this contract extension, Holmgren joins fellow Thunder star and NBA Most Valuable Player Shai Gilgeous-Alexander in receiving a maximum contract. The team is now focused on extending the contract of another rising star, Jalen Williams, who is also eligible for a rookie scale extension this offseason.
As the details of Holmgren's contract become clearer, it appears that the deal may not include Rose Rule language. This means that the first-year salary will likely not exceed 25% of the cap, even if Holmgren achieves All-NBA team status, wins the Defensive Player of the Year award, or is named MVP. However, Charania's report indicates that the total value of the extension could potentially reach $250 million, exceeding the projected value of a standard 25% maximum deal, even if the cap rises by the maximum allowable 10% next year.
In summary, Holmgren's contract extension is a testament to his talent and resilience, as well as the Thunder's commitment to building a championship-caliber team. Fans and analysts alike will be watching closely as Holmgren continues to develop in the league.
