FEBRUARY 23: Conley’s extension with the Timberwolves is now official, the team announced today in a press release.
FEBRUARY 19: Veteran point guard Mike Conley has agreed to a two-year, $21MM extension with the Timberwolves, agents Steven Heumann and Jess Holtz tell ESPN’s Adrian Wojnarowski.
Conley, 36, is earning $24.4MM 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 $22MM (Twitter link), 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 ’23/24 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 three-point range (44.2%) and the free throw line (92.3%).
According to Jon Krawczynski of The Athletic (Twitter link), Minnesota’s front office has been trying to work out a deal for Conley for several weeks, and obviously the interest was mutual. His new extension is similar to the one Al Horford signed with Boston in December 2022 (two years, $19.5MM).
As ESPN’s Bobby Marks observes (Twitter links), the Wolves project to be over the second tax apron in ’24/25, with their entire starting lineup under contract. The other four starters are Anthony Edwards, Jaden McDaniels, Karl-Anthony Towns and Rudy Gobert.
Smart move by the TWolves. He may not be the most talented player on the team but he is the most important.
Love it. Keeping him is fantastic and for an (expectedly) lower cap hit going forward is even better. The Timberwolves will stay relevant.
The value he brings with his basketball IQ and being the only adult in the Wolves locker room is worth the extension alone.
Nice – he was a key piece they thought d-lo would be. Great facilitator and when he needs to make a shot he’s usually good for it.
He’s not super speedy but knows where to be, so no need to scramble when you’re in the right place.
I dont know how effective he will be 2 years from now, but this is a good contract regardless.
You could say that if this team doesnt win/get to the finals in 2 years, then they need a retool. Good move.
Great team friendly deal just like NAZ. Next up NAW. Too bad they overpaid Jaden McDaniels.
McDaniels is worth his salary just based on his D. His impact will likely be seen more in the playoffs when he’s guarding the opposition’s best wing.
How is Jaden worth 27M a season when the going rate is more like 18M for a player like him. How about his impact during the season and will he stop making dumb fouls and other low IQ decisions?
Just remember this when they are over the 2nd tax apron and can’t afford to keep NAW and they end up trading Kat away.
He o my gets paid 27 mil for one season and he’s got plenty of room to grow. I’m not worried about it.
I’m not sure how you get to that $18M figure. Who are your comps? I don’t see it.
Thought Conley dad was his agent?
Great deal for both.
The guy has a great work and a great Columbus, Ohio offseason shooting coach/workout guy… the numbers and longevity say what it does!
Fan of and watch most of the Wolves games. KAT and Gobert getting healthy obviously is probably the most impactful change from last year to this one, that and ANT ascending further, but watching this team with D’Lo vs watching it with Conley is a completely different experience. Love having him and on this contract, big value. Such a huge difference maker to have someone who just runs offense, takes care of the ball on the court.