It’s safe to say that champion Thunder big man Chet Holmgren and Suns star Devin Booker “got the bag”—and we’re talking about a lot of it.
Both Holmgren and Booker made significant moves to secure their future, reportedly agreeing to massive contract extensions that will keep them with their respective teams, Oklahoma City and Phoenix, for the foreseeable future.
Per senior NBA insider Shams Charania, the 23-year-old Thunder big man signed a maximum five-year rookie contract extension worth nearly $240 million, with the potential to rise to $250 million through various incentives.
Breaking: Oklahoma City Thunder star and 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.
— Shams Charania (@ShamsCharania) July 9, 2025
Holmgren played a pivotal role in Oklahoma City's historic 2024-25 title run despite missing 50 games, mainly due to a hip injury.
[ALSO READ: Hampered by injuries early, Chet Holmgren perseveres to become NBA champ with OKC Thunder]
In the regular season, the no. 2 pick of the 2022 draft averaged 15.0 points, 8.0 rebounds, and 2.2 blocks per game, while shooting 49% from the field and 37.9% from beyond the arc.
His impressive performance carried over to the playoffs, where he contributed 15.2 points and 8.7 rebounds per game during the Thunder’s 23-game postseason run.
Now, with this extension in place, Oklahoma City is poised for a long-term championship window, with Holmgren leading the charge alongside reigning MVP Shai Gilgeous-Alexander—who recently signed a four-year, $285 million supermax contract extension—and All-Star Jalen Williams.
[ALSO READ: News MVP Shai Gilgeous-Alexander signs historic four-year, $285-M supermax extension—reports]
Meanwhile in Phoenix, Booker, who has been the face of the Suns for nearly a decade, has reportedly agreed to a two-year, $145 million extension, per Charania.
BREAKING: Phoenix Suns superstar Devin Booker has agreed to a two-year, $145 million maximum contract extension with the franchise through the 2029-30 season, the highest annual extension salary in NBA history, CAA’s Jessica Holtz and Melvin Booker told ESPN.
— Shams Charania (@ShamsCharania) July 10, 2025
This deal keeps the 28-year-old star with the team through the 2029-30 season and underscores the Suns’ commitment to building around him for the future.
Despite Phoenix’s disappointing 2024-25 campaign where they finished 11th in the Western Conference, Booker posted 25.6 points, 7.1 assists, and 4.1 rebounds in 75 games and became the franchise’s all-time scoring leader.
Though Booker’s individual success is unquestionable, the Suns have yet to find postseason success since their 2021 NBA Finals appearance, which led to another head coaching change for the third consecutive season, this time hiring Jordan Ott.
[ALSO READ: Suns make it official with hiring of new head coach Jordan Ott: 'A dream come true']
In addition, the Suns made a major move by trading two-time champion Kevin Durant to the Houston Rockets, bringing in Jalen Green, Dillon Brooks to name a few.
