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.

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.