All-Star guard to sign two-year extension with Timberwolves

Conley, 36, is earning $24.4M this season in the final year of his current contract. He would have been Minnesota’s biggest free agent this summer, but inking a two-year extension will keep him off the open market.

Shams Charania of The Athletic hears Conley’s extension is worth $22M, so we’ll have to wait for more details to learn his exact cap hits for 2024-25 and 2025-26. Either way, it sounds like he won’t hit free agency until 2026 when he’ll be 38.

Conley has started all 50 of his games for the Wolves in 2023-24 and has been a key leader for the No. 1 seed in the West. In 28.9 minutes per night, he has averaged 10.6 PPG, 6.4 APG, 2.9 RPG and 1.0 SPG. In his 17th NBA season, Conley is posting career-high marks from 3-point range (44.2 percent) and the free-throw line (92.3 percent).

According to Jon Krawczynski of The Athletic, Minnesota’s front office has been trying to work out a deal for Conley for several weeks, and the interest was mutual. 

His new extension is similar to the one Al Horford signed with Boston in December 2022 (two years, $19.5M).

As ESPN’s Bobby Marks observes, the Wolves project to be over the second tax apron in 2024-25, with their entire starting lineup under contract. 

The other four starters are Anthony Edwards, Jaden McDaniels, Karl-Anthony Towns and Rudy Gobert.