Thunder has 535 million yuan to strengthen, spend money to keep dual cores, is it vision or the edge of the abyss?

A champion with an average age of 23 years old is betting on the future with the most expensive bets in NBA history.

When the Thunder officially announced a five-year, $250 million max contract renewal with Chet Holmgren, the summer night in Oklahoma City was ignited. Just 24 hours ago, they just presented a four-year, 285 million super contract for new MVP and FMVP Shay Gilgers-Alexander. Two signings cost $535 million, and the Thunder management locked in the future of the championship core at a near-crazy speed. However, a cold problem surfaced. After spending huge sums of money, the Thunder's lineup strength has not been substantially improved, and Jaylen, the hero of the championship, has not completed the contract renewal.

Homgren's contract renewal is the most contradictory game in the NBA. Judging from the data, the 23-year-old center's defensive dominance is unquestionable. Last season's playoffs +169 plus or negative value, the league, suppressed its opponent's shooting percentage to 33% in the finals, and G7 scored 5 blocks in a single game. He is one of the only players in the league who can score 150 three-pointers and send 250 blocks in a single season, tied for history with Vinbanyama and Porzingis.

But the shadow is also clear. He was reimbursed for a torn right foot ligament in the rookie season and was missed for another three months in November last year. Even the regular season data averaged only 15 points and 8 rebounds after his comeback, it does not seem to be completely consistent with his identity as a "rookie maximum salary". The Thunder’s logic of the gamble is that they believe that Homgren is an irreplaceable “defensive axis” in the championship puzzle, not the star on the data sheet.

Alexander's contract renewal with Homgren is only the prelude to the Thunder's salary storm. Alexander's new contract is an average of US$71.3 million per year, and his annual salary will reach 78.77 million in the 2030-31 season. The Homgren contract includes an incentive clause of 11 million, with a total amount of 250 million. Jaylen Williams' maximum salary negotiations are on the verge of. What's more serious is that the "second tyrant line" in the new version of the labor-capital agreement is like a noose. After triggering, it will be prohibited from using middle-class special cases, restrict draft pick operations, and even freeze cash transactions. The Celtics were forced to give up Porzingis and Holiday's lessons due to salary pressure. The Thunder seems to have retained the original lineup, but in fact it has entered the "zero fault tolerance range" - any contract renewal mistake will tear the salary structure apart.

When Zhu Meng Green mocked "the free market has not been opened at all", and when the Nets only had more than 45 million space in the league but refused to take action, the Thunder's radicalization formed a strange contrast. Its confidence comes from triple insurance, expectation of a salary cap rise, the new Alliance Media copyright contract takes effect in 2030, and salary inflation has become a foregone conclusion. Draft pick reserve, holding 15 first round picks, can trade reinforcement or gold-rushing rookie bonus at any time, injury avoidance design, Homegren contract is fully guaranteed but no player/team options, locking in risks and benefits. This is exactly the cold calculation of the Thunder management: buy at the bottom and sign the contract when the player's value is low, and bet on the long-term curve to rise.

Homgren's injury history is like a hanging sword. The potential recovery risks of pelvic fractures and the wear and tear of 7-foot-1-inch slim figure have made medical experts cautious about their attendance rate. The deeper anxiety is that when Alexander, Homegren and Williams account for more than 75% of the salary cap, the loss of role players will be inevitable, just like the mistakes of Brown and Green leaving the team one after another after the Nuggets won the championship.

Thunder's 535 million expenditure is like two sides of a coin: the front is engraved with the "Dynasty Cornerstone" and the back is written with the "Salary Grave".

They bet that Homgren can get rid of the curse of "glass unicorn", that Alexander maintains his MVP level, that he bet that his salary cap soared and swallowed poison contracts.

When the entire league tightens its money due to the rich line, Oxford opens its wallet. This courage to go against the current will eventually prove to be the prediction of geniuses, or may it be the most expensive lesson in the championship cycle?

A scout sighed in an anonymous interview: "They locked the ceiling, but the floor could collapse at any time."