What happened: The five-year agreement begins in 2027-28, after Thompson finishes his rookie contract. It runs through 2031-32 and averages $41.6 million annually.
Why it matters: The price represents a long-term bet on his two-way growth. Further offensive gains will determine how the commitment ages.
By the numbers: Thompson averaged 18.3 points, 7.8 rebounds, 5.3 assists and 1.5 steals across 79 games in 2025-26. He led the NBA with 2,953 minutes and placed eighth in Defensive Player of the Year voting.
What to watch: Training camp will provide the first measure of Thompson entering his final season before the extension starts.