Timberwolves reach 2-year extension with Conley, source confirms
Minnesota Timberwolves guard Mike Conley, right, drives to the basket against Portland Trail Blazers forward Jerami Grant during the first half of an NBA basketball game in Portland, Ore., Tuesday Feb. 13, 2024. (AP Photo/Steve Dykes)
The Minnesota Timberwolves have reportedly reached a deal to keep their starting point guard beyond this season.
A source confirmed to KSTP Sports that Mike Conley Jr. agreed to a two-year extension that is fully guaranteed. ESPN first reported the deal, saying it’s worth around $21 million. Conley was set to become a free agent at the end of the season, which would’ve left a large hole in the Wolves’ backcourt.
At that reported price, he’s taking a large pay cut to stay in Minnesota, as he’s currently making $24.3 million this season, per Spotrac.
The 36-year-old has been key to Minnesota’s success this season, which has seen them atop the Western Conference for the majority of the campaign. He’s averaged 10.6 points, 6.4 assists and 2.9 rebounds per game while shooting a career-best 44% from three. He’s appeared in 50 of the club’s 55 games this season, averaging 28.9 minutes per game.
Conley came to the Timberwolves at the 2023 NBA trade deadline in a three-team deal that also landed Minnesota Nickeil Alexander-Walker and three second-round picks.
The deal means the Timberwolves have all five starters under contract beyond this season, plus key bench players in Naz Reid and Alexander-Walker. While the price of some of those contracts could create some financial questions for the team this offseason, it would still seem to be a boon to keep Conley in the fold at that cost.
Minnesota entered the All-Star break with a 1.5-game lead over Oklahoma City for the top spot in the West. The team is back in action Friday night when Milwaukee comes to town.