Thunder's Updated NBA Salary Cap After SGA, Holmgren Contracts Worth Combined $535M
The Oklahoma City Thunder continued their offseason spending spree on Wednesday.
According to ESPN's Shams Charania, the Thunder agreed to sign star big man Chet Holmgren to a fully guaranteed five-year maximum rookie contract extension worth up to $250 million. Coupled with the four-year, $285 million contract extension that they recently gave to MVP guard Shai Gilgeous-Alexander, they have now spent a whopping $535 million on those two megadeals this summer.
Holmgren's new contract will start in 2026, when he will take up at least 25 percent of the Thunder's salary cap. Gilgeous-Alexander's new deal starts in 2027 at 35 percent of the cap.
Oklahoma City will be paying the duo a projected $105.48 million combined in 2027.
The Thunder likely aren't done spending this offseason, either. They figure to now turn their attention toward a contract extension for Holmgren's 2022 NBA draft classmate, Jalen Williams.
Oklahoma City's commitment to Holmgren keeps him as a key part of the team's talented young core for the foreseeable future. The Thunder had the best record in the NBA this past season at 68-14 and went on to win the NBA championship, making them the second-youngest team in NBA history to win the title.
Holmgren has shown the makings of a two-way star, but he also has an extensive injury history. The 2022 No. 2 pick missed his entire rookie season with a torn ligament in his right foot but returned to play all 82 games during the 2023-24 season. Unfortunately, disaster struck once again this past year when he suffered a pelvic fracture that cost him three months of the season and limited him to just 32 games.
Still, Holmgren was a reliable contributor upon his return to the court. During Oklahoma City's postseason run, he appeared in all 23 games and averaged 15.2 points, 8.7 rebounds, 1.0 assists and 1.9 blocks per game.
If he can stay healthy, Holmgren can be one of the best defensive players in the NBA. Charania noted that he "contested 93 percent of opponents' 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."
The future is bright in Oklahoma City, and Holmgren's extension is another move that could help the Thunder become the league's next dynasty.
