The Thunder are taking serious measures to ensure their core remains intact after capping off a historic season with an NBA title.
Oklahoma City has inked several key players to new contracts and contract extensions, but no three deals stand out more than those signed by MVP Shai Gilgeous-Alexander and the duo of 2023 lottery picks, Chet Holmgren and Jalen Williams.
Gilgeous-Alexander was the first to sign, inking a four-year contract extension worth $285 million, then it was Holmgren and Williams signing five-year deals worth up to $250 million and $287 million, respectively.
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With the three players signing deals that could be worth up to $822 million total, here’s more on how OKC’s cap situation will be impacted.
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Thunder cap space projection
Oklahoma City’s cap will be unaffected by the recent deals during the upcoming season. The contract extensions for Holmgren and Williams go into effect during the 2026-27 season, while Gilgeous-Alexander’s new deal does not begin until the 2027-28 season.
Here is a three-year outlook for the Thunder’s projected contract situation. All salary figures via Spotrac.
| Player | 2025-26 | 2026-27 | 2027-28 |
| Shai Gilgeous-Alexander | $38,333,050 | $40,806,150 | $60,811,100 |
| Isaiah Hartenstein | $28,500,000 | $28,500,000 (Team) | UFA |
| Luguentz Dort | $18,222,222 | $18,222,222 (Team) | UFA |
| Alex Caruso | $18,102,000 | $19,550,160 | $20,998,320 |
| Chet Holmgren | $13,731,368 | $41,368,000 | $44,677,440 |
| Isaiah Joe | $12,362,338 | $11,323,006 | $11,323,006 (Team) |
| Aaron Wiggins | $10,102,803 | $9,224,300 | 48,345,797 |
| Jaylin Williams | $8,450,000 | $7,740,000 | $7,740,000 (Team) |
| Kenrich Williams | $7,163,000 | $7,163,000 (Team) | UFA |
| Ousmane Dieng | $6,670,882 | RFA | Â |
| Jalen Williams | $6,580,997 | $41,368,000 | $44,677,440 |
| Cason Wallace | $5,820,240 | $7,420,806 (Team) | RFA |
| Nikola Topic | $5,182,290 | $5,429,760 (Team) | $7,482,210 (Team) |
| Thomas Sorber | $4,655,040 | $4,887,720 | $5,120,400 (Team) |
| Ajay Mitchell | $3,000,000 | $2,850,000 (Non-Gtd.) | $2,850,000 (Team) |
| Brooks Barnhizer | Two-Way | RFA | Â |
| Total | $198,028,343 | $268,119,116 | $322,977,492 |
| Cap Space | -$38,381,343 | -$102,647,116 | -$149,231,492 |
Team = Team option
UFA = Unrestricted free agent
RFA = Restricted free agent
Oklahoma City’s projected to be $38.4 million over the projected salary cap in 2025-26, and it’s currently projected to be more than $100 million over the cap in 2026-27, but there is more to that number.
Isaiah Hartenstein ($28.5 million), Luguentz Dort ($18.2 million), Cason Wallace ($7.4 million), Kenrich Williams ($7.2 million), and Nikola Topic ($5.4 million) will earn a combined $62.7 million, but each player has a team option for the 2026-27 season.
The Thunder have flexibility based on the players they decide to exercise the option for or not.
Additionally, the salary cap is projected to increase in each of the upcoming seasons. While the Thunder won’t magically fall below the cap, numbers in the margins will be significant concerning the second and third aprons.
Alex Caruso is under contract through 2029, but he will be 34 going into the final year of his contract. Given the standing of Oklahoma City’s young core and its bevy of draft capital, it can draft replacements for aging players on more affordable rookie contracts while also attaching draft capital as an asset for teams to take on heftier contracts.
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Shai Gilgeous-Alexander contract
Gilgeous-Alexander signed a four-year supermax extension worth $285 million. Here are the year-by-year terms of the deal. As the reigning MVP and a three-time First Team All-NBA selection, Gilgeous-Alexander was already supermax eligible.
| Season | Age | Salary |
| 2025-26 | 27 | $38,333,050 |
| 2025-26 | 28 | $40,806,150 |
| 2026-27 | 29 | $60,811,100 |
| 2027-28 | 30 | $65,675,988 |
| 2028-29 | 31 | $70,540,876 |
| 2029-30 | 32 | $75,405,764 |
| 2030 | 32 | Unrestricted free agent |
Jalen Williams contract
Williams signed a five-year extension worth up to $287 million. Here are the year-by-year terms of the deal.
The deal reaches its maximum value if Williams becomes supermax eligible.
| Season | Age | Salary |
| 2025-26 | 24 | $6,580,997 |
| 2026-27 | 25 | $41,368,000 |
| 2027-28 | 26 | $44,677,440 |
| 2028-29 | 27 | $47,986,880 |
| 2029-30 | 28 | $51,296,320 |
| 2030-31 | 29 | $54,605,760 |
| 2031 | 30 | Unrestricted free agent |
Chet Holmgren contract
Holmgren signed a five-year extension worth up to $250 million. Here are the year-by-year terms of the deal.
The deal reaches its maximum value if Holmgren becomes supermax eligible.
| Season | Age | Salary |
| 2025-26 | 23 | $13,731,368 |
| 2026-27 | 24 | $41,368,00 |
| 2027-28 | 25 | $44,677,440 |
| 2028-29 | 26 | $47,986,880 |
| 2029-30 | 27 | $51,296,320 |
| 2030-31 | 28 | $54,605,760 |
| 2031 | 29 | Unrestricted free agent |
