Timberwolves guard signs two-year, $21 million extension, per report
Mike Conley has agreed to a two-year, $21 million contract extension with the Minnesota Timberwolves, according to ESPN’s Adrian Wojnarowski. The Timberwolves, owners of the Western Conference’s No. 1 seed at the All-Star break, now have their starting lineup locked up going into next season.
Conley, who was acquired in a deadline deal that cost Minnesota D’Angelo Russell in 2023, has been everything the Timberwolves could have hoped for as their starting point guard. He has been a stabilizing force on an offense built around young superstar Anthony Edwards. His presence has made life significantly easier on both ends of the floor for former Utah Jazz teammate Rudy Gobert, who is favored to win his fourth Defensive Player of the Year award this season. Minnesota is 49-25 overall with Conley in the fold.
Getting Conley back at this price is a boon for a Timberwolves team facing a severe financial crunch. Right now, the Timberwolves have roughly $185 million on the books for next season dedicated to nine players.
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The projected second apron for next season is $189.5 million, and Minnesota is nearly a lock to exceed that figure. That will likely mean the loss of impending free-agent forward Kyle Anderson, but the rest of the core will be in place.
That includes their starting point guard, who is now locked into a deal that will pay him less than the non-taxpayer mid-level exception. He almost certainly could have earned more on the open market, but in Minnesota, Conley has his best chance to genuinely contend for a championship. Now he’ll be able to do so for the next two seasons at least.