According to ESPN's Shams Charania, the Thunder signed 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 given to MVP guard Shai Gilgeous-Alexander, Oklahoma City has now spent a whopping $535 million this summer.

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.