Chet Holmgren has agreed on a five-year contract extension worth nearly $240 million to remain with the NBA champion Oklahoma City Thunder, per multiple reports. ESPN, which first reported the deal, citing agent Bill Duffy, said it could eventually be worth $250 million because of various contract escalators.

Thunder center Chet Holmgren has agreed to a maximum rookie contract extension for five years and up to $250 million, according an ESPN report Wednesday.

Chet Holmgren signed a contract extension worth up to $250 million with Oklahoma City after the team's NBA Finals victory.