Wiggins, who was traded to Minnesota in 2014 after the Cleveland Cavaliers drafted him No. 1 overall, has tremendous leverage in negotiations.
While it didn't come as fast as many fans would have liked or anticipated, Andrew Wiggins finally signed a contract extension with the Timberwolves, the team announced Wednesday.
The Vertical's Shams Charania originally reported that Wiggins and the Timberwolves were "progressing" towards an agreement in late September, but it took until now to make the contract official.
Minnesota owner Glen Taylor also wanted to sit down and meet with Wiggins to openly discuss their expectations and hopes for the Timberwolves' future. However, according to The Washington Post's Tim Bontemps, the deal is presumably worth the maximum of $148 million over five years.
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It's easy to see why the T-Wolves opened the vault for Wiggins. It would keep the 22-year-old under contract throughout what should several more highly productive years. "I love it here". He scored 40 or more points 5 different times last season.
Wiggins averaged career highs of 23.6 points and 2.3 assists per game last season. "I look forward to doing right by them and bringing this team to the postseason".
The contract, which starts in 2018-19, is worth the National Basketball Association maximum, which projects to $148 million, but the exact amount won't be known until the salary cap is set next summer.
Wiggins will make more almost double that of Tristan Thompson, whose $16.4 million contract ranks second among Canadian NBA players. At roughly $29.6 million per season, he becomes the team's highest-paid player by over $10 million.