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Timberwolves star Anthony Edwards agrees to five-year max extension

Anthony Edwards

The Timberwolves and budding talent Anthony Edwards have agreed to a five-year, designated rookie extension that would pay him the maximum amount, according to agents Bill Duffy and Joe Branch. (Twitter link).

According to Wojnarowski, the deal could be worth up to $260 million if Edwards makes an All-NBA team in 2024 and the salary cap rises by the maximum 10% for the 2024-25 league year. The five-year agreement would be worth $217 million with a 10% cap rise and no All-NBA selection for Edwards.

According to Jon Krawczynski of The Athletic, the contract will be a standard five-year deal with no player or team option. (Twitter link).

“I’m humbled, appreciative and excited to remain in Minnesota as a part of this incredible Timberwolves organization,” Edwards said in a statement to Wojnarowski (Twitter link). “It’s amazing to see where hard work can take you.”

Edwards, the first overall choice in the 2020 draft, has improved his scoring average and efficiency in each of his NBA seasons to far. He averaged 24.6 points, 5.8 rebounds, 4.4 assists, and 1.6 steals in 79 games (36.0 MPG) in 2022-23, earning his first All-Star selection.

Despite the fact that the Wolves also have Karl-Anthony Towns and Rudy Gobert on max contracts, there was a strong notion entering this offseason that Edwards, the player the organization will most likely develop around for years to come, would get his own max contract. He appears to be ready to sign it as soon as he becomes eligible later this week.

Edwards will play one more season on his rookie scale contract, which pays him $13.5 million in 2023-24, before receiving a significant raise. If the cap rises by 10% to $149.6M in 2024-25 and Edwards is named to the All-NBA team, he, Towns, and Gobert would earn a total $141M that season, a figure that will only rise higher in 2025-26.

While those three max contracts — as well as a potential extension for Jared McDaniels — are expected to limit the Timberwolves’ financial flexibility in the future, any future moves to solve that issue are more likely to include Towns or Gobert than Edwards.

Edwards is the third 2020 first-round pick to agree to a “Rose Rule” rookie scale extension worth up to 30% of the cap rather than 25%. Tyreese Haliburton of the Pacers and LaMelo Ball of the Hornets are also expected to sign those contracts, while Desmond Bane of the Grizzlies will receive a rookie scale extension earning the normal 25% maximum.