July 9 (UPI) -- The Oklahoma City Thunder and center Chet Holmgren agreed to a five-year maximum rookie contract extension worth up to $250 million, agent Billy Duffy of WME Basketball confirmed Wednesday.
The fully-guaranteed pact, which does not include a player or team option, will tie Holmgren to the Thunder through the 2030-31 season.
Holmgren, 23, averaged 15 points, 8.0 rebounds. 2.2 blocks and 2.0 assists per game over 32 regular-season starts in 2024-25. He missed three months of the season with a hip injury.
The 7-foot-1 center averaged 12.9 points, 8.7 rebounds, 1.9 blocks and 1.0 assists per game in 23 postseason appearances to help the Thunder win the NBA title. He averaged 12.3 points, 8.9 rebounds and 1.6 blocks per game against the Indiana Pacers in the NBA Finals.
Holmgren, who joined the Thunder as the No. 2 overall pick in the 2022 NBA Draft, missed his entire rookie campaign due to a foot injury. He averaged 16.5 points, 7.9 rebounds, 2.4 assists and 2.3 blocks per game over 82 starts in 2023-24.
Thunder guard Shai Gilgeous-Alexander, who became the first player since Shaquille O'Neal in 2000 to win regular-season MVP, a league scoring title and NBA Finals MVP in the same season, signed a four-year, $285 million contract extension on Tuesday.
The Thunder will face the Brooklyn Nets in a Summer League matchup at 7:30 p.m. EDT Thursday in Las Vegas.