Devin Booker and Chet Holmgren Sign Massive Max Extensions on Same Day

The Oklahoma City Thunder and the Phoenix Suns did not take time away from team negotiations during NBA Summer League, which started this week. Solidifying their potential future dynasty, the Thunder locked down another member of their Big Three, 23-year-old big man Chet Holmgren, signing him to a five-year, $250 million max-contract extension. After winning the NBA Finals, Thunder general manager Sam Presti and the Thunder faithful are hoping the former second overall pick can stay healthy this upcoming season.

Holmgren missed his entire rookie year with a Lisfranc injury in his foot and sat out 32 games this past season due to a hip injury. Remarkably, the Thunder went 26–6 in his absence. When Chet was on the floor, his impact was felt on both ends. Averaging 16 points and eight rebounds for his career, he also tallied eleven blocks in the NBA Finals. This move positions Oklahoma City to compete for championships for at least another half-decade.

With a young core in place, the Thunder have also begun negotiations to re-sign their best defender, Jalen Williams, to a long-term deal.

Meanwhile, the Phoenix Suns answered one major question in their confusing offseason. Devin Booker agreed to a two-year, $145 million extension to remain in Phoenix through at least the end of the 2029–2030 season. It marks the highest annual extension salary in NBA history. Last season was the first year of Booker’s $224 million supermax extension, which he signed in 2022.

Fast-forward to a lackluster season, where Phoenix failed to make the postseason despite having Kevin Durant and Bradley Beal. Many wondered if this would be the time Booker finally asked to be released. The franchise leader in career points (16,452) and three-pointers made (1,424), Booker has long been considered a Phoenix lifer. He shot 46% from the field and 33% from beyond the arc this past season. Booker is set to earn $70.1 million in 2028–2029 and $75.7 million in 2029–2030.

First-year coach Jordan Ott is relieved to have Booker locked down for the future as he works to shape the rest of the roster alongside general manager James Jones.