OKC Thunder Monthly Recap: July 2025

The Oklahoma City Thunder completed its best season in franchise history by beating the Indiana Pacers, 103-91, in Game 7 of the 2025 NBA Finals on June 22.

The next step: Extending its three pillars on long-term contracts during July.

ESPN insider Shams Charania revealed Shai Gilgeous-Alexander, who was not eligible to sign a supermax deal officially until July 6, agreed with the Thunder in principle five days earlier. The 2024-25 regular-season MVP, scoring champion, Western Conference Finals MVP and NBA Finals MVP earned a four-year, projected $272.4 million extension through the 2030-31 season, with a player option for the last year.

Gilgeous-Alexander has played six seasons in Oklahoma City and is now on track to play at least five more — and six if he accepts the player option. The Thunder keeping the eighth-year guard around was a necessary decision to maintain legitimate contention, as his downhill ability, change of pace and overall self-creation bend playoff defenses like few other players can.

Gilgeous-Alexander won Best Male Athlete and Best NBA Player at the 2025 ESPYs on July 16, and he was announced as the NBA 2K26 cover athlete on July 8.

Oklahoma City's 2022 draftees Chet Holmgren and Jalen Williams agreed to their rookie-scale extensions on consecutive days. Charania announced Holmgren's five-year deal through the 2030-31 season on July 9. The big man is projected to make $239.9 million over the extension period, as the first year will equal 25% of the salary cap. Holmgren will make an 8% raise for the second year and an identical quantity raise — about $3.3 million — for all remaining years.

Charania broke Williams' five-year deal over the same time frame on July 10. Williams, who grabbed All-NBA Third Team, All-Star and All-Defensive Second Team selections last season, received contract escalators depending on his performance next season. He will receive the same deal as Holmgren without an All-NBA selection, make 26% of the salary cap in the first year with another All-NBA Third Team appearance, make 27% of the salary cap in the first year with an All-NBA Second Team appearance and make 30% of the salary cap in the first year with an All-NBA First Team appearance.

In other words, Williams joining or supplanting Gilgeous-Alexander among the NBA's five outstanding players would make his extension worth $291.2 million.

The Thunder had tailored meticulously to maintain Holmgren and Williams next to Gilgeous-Alexander for the next half-decade. Isaiah Hartenstein and Luguentz Dort's 2026-27 campaigns contain team options right as both rookie extensions kick in. Oklahoma City still possesses 13 first-round picks over the next seven drafts, which provide flexibility and less pricey talent in theory. It reached team-friendly agreements with Aaron Wiggins and Isaiah Joe last summer, and signed Jaylin Williams and Ajay Mitchell to similar deals at the end of June.

The Thunder went 5-3 across the Salt Lake City (1-2) and Las Vegas (4-1) Summer Leagues, making the latter's semifinal before being blown out by the eventual champion Charlotte Hornets, 109-80, on July 19. Oklahoma City racked up double-digit steals in six games and earned a positive turnover differential in six games, reflecting its NBA roster's superpower.