Photo: Peter Baba

Chet Holmgren’s All-NBA Third Team selection did not alter the financial structure of his long-term deal with the Oklahoma City Thunder, according to contract details confirmed by Keith Smith on Sunday, May 24.

The All-NBA teams were announced on Sunday, with Holmgren joining Tyrese Maxey, Jamal Murray, Jalen Johnson, and Jalen Duren on the Third Team. The First Team featured Shai Gilgeous-Alexander, Nikola Jokic, Victor Wembanyama, Luka Doncic, and Cade Cunningham.

Holmgren’s selection placed him among the league’s top 15 players this season, but his contract was structured without All-NBA escalators tied to future salary adjustments.

The Oklahoma City forward-center is set to enter the first season of a five-year, $239 million extension, following the final year of his four-year, $44.9 million rookie-scale contract.

Despite his All-NBA recognition, Holmgren’s deal remains fixed at approximately 25 percent of the salary cap, with no performance-based mechanism increasing his extension value.

The distinction is important in the context of recent contract trends, where several young All-NBA players have triggered supermax eligibility or escalator clauses based on awards.

In Holmgren’s case, the absence of those clauses means his projected earnings remain unchanged even after achieving league-wide recognition at the highest level outside of the First and Second Teams.