CHEt Holmgren, the 23-year-old basketball whiz kid from Ghent, Belgium, officially inked his five-year rookie-maximum contract extension this summer. This contract extension with the Oklahoma City Thunder is for up to $250 million. This deal comes after a standout season where he demonstrated his prowess on the court, particularly in the playoffs, helping lead the Thunder to their first championship title in 2025.
Holmgren stands head and shoulders above his competition—literally at 7 feet 1 tall. Since being drafted second overall in the 2022 draft, he has established himself as one of the brightest young stars in the NBA. He came into the league with another rookie, also named Jalen Williams, who went 12th overall. Holmgren has already experienced some serious challenges with injuries early in his career, such as a complicated hip injury that limited him to just 32 regular-season appearances last year. Despite this setback, he’s shown exceptional character and talent on the ice.
In the 2024-25 season, Holmgren ranked fourth in the league for blocks, averaging 1.9 per game, underscoring his defensive capabilities. He put up stellar career averages of 16.1 points and 7.9 rebounds per game. What he did in the postseason was extraordinary. He notched eight double-doubles in just 23 games played down the stretch, establishing himself as a big piece for the Thunder going forward.
Holmgren is heading into the last year of his four-year rookie contract. He has a feathery base salary of $6.6 million for the 2025-26 season and recently became eligible for the rookie supermax extension. The new contract further underscores his growing clout within the still largely insular league. As much as anything, it demonstrates that the Thunder now recognize the need to build around their young star.
The Oklahoma City Thunder’s management expressed enthusiasm about the extension, highlighting Holmgren’s potential to become one of the premier players in the NBA. His early contributions were instrumental in the Thunder’s championship win of the last few years. They can’t wait for him to continue that performance going forward.
