The Minnesota Timberwolves have enjoyed a tremendous season thus far holding the 1 seed in the Western Conference for much of the time before losing Karl-Anthony Towns to a calf injury. The Timberwolves are still projected to be a home team in the first round of the playoffs and by that time they hope to have their all-star PF/C back in the lineup. Trading for Rudy Gobert in the 2022 offseason and going with a 2 big starting lineup appears to have worked out for the Timberwolves as the French DPOY frontrunner for this season has anchored the Timberwolves defence and allowed KAT more of an opportunity to catch and shoot on the wing where he is making 43% of catch and shoot 3’s at 4.5 attempts per game.
There are 3 contracts getting a significant boost for the 2024-2025 season 



 

Karl-Anthony Towns Supermax



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In the 2024-2025 season the 5 year $224 million supertax contract that Towns signed in 2022 will kick in. Next season he will earn $49.35 million (35% of salary cap figure) and by the last season of his deal he holds a player option worth $64.9 million. 



 

Anthony Edwards Rookie Extension



 

In the 2024 off-season Anthony Edwards’ max rookie extension will begin, estimated at a $35.25 million cap hit for the 2024-2025 season. Given Edwards’ play all season and his ability to step up after Towns went down with injury, he is in line to make an All-NBA team this year. An All-NBA selection would increase the maximum value of his rookie extension from $204 million to $245 million over 5 years. Edward would be eligible to earn up to 30% of the salary cap so, for the 2024-2025 season, he could make up to a $42.3 million.

 

Jaden McDaniels Rookie Extension


 

Jaden McDaniels’ rookie extension also comes into effect in 2024 - he signed a 5 year $136. McDaniels is a young, elite defender that the Timberwolves see as part of their core going forward. McDaniels was making $3,901,399 this season on a team option but that number will go up to $22,586,207 starting next season.


 

Veteran Discount

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This past February, the Timberwolves and starting point guard Mike Conley agreed on a two-year $21 million extension. Mike Conley will go from making $24,360,000 this season to $9,975,962 next season. Conley has been a steady veteran leader for this young rising team, and he is still a very productive and efficient player. He certainly could have got more money in free agency, but at this point in his career Conley has opted to stay on a contending team where he has an important starting role.



 

Where does this leave the Timberwolves financially going into 2024-2025?

 

Even if the Timberwolves brought back none of their pending UFA’s (including guys like Kyle Anderson, Monte Morris, Jordan McLaughlin) the Timberwolves are still a second apron team in 2024-2025. Timberwolves majority owner Glen Taylor has paid the tax 4 times in 20 years of being the majority owner, for a total of $25 million. Of the 9 players the Timberwolves have under contract for next season, their luxury tax bill is already $27 million. Being a second apron team would not prevent the Timberwolves from brining back all their pending UFA’s if the choose to, in the however this would lead to an even further increase in luxury tax payments, as well as long-term financial and roster complications. Barring any trades we can expect most of the Timberwolves’ main players to be back next season (except if they make a trade to get out of money) because of the financial commitments that have been made. They do have a $4 million trade exception (expiring February 10, 2025) acquired from the Troy Brown Jr. trade which they can use to acquire one or more players making a total of $4 million. They will also have available to them the taxpayer mid-level exception which is projected to be around $7.3 million and can be used to sign a free agent. Teams in the second apron also have the ability to sign players to minimum deals and rookie scale contracts (the Timberwolves hold their own first-round pick).

 


Marc Lore and Alex Rodriguez are in the final stages of acquiring majority control of the Timberwolves and in doing so will be taking over a team with an expensive payroll, but one that has produced and showed a lot of promise this season to make a run for the NBA title.​