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Timberwolves, Anthony Edwards agree to a five-year max extension worth $260 million

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James Foglio
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James Foglio Sports Editor

James is a Basketball Insiders contributor. He earned his bachelor's degree in English and Creative Writing from Southern New Hampshire University. James enjoys watching sports and helping gamblers win money.

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Sports Editor

Updated03 Jul 2023

Minnesota Timberwolves, Anthony Edwards agree to a five-year max extension worth $260 million

The Minnesota Timberwolves and Anthony Edwards have agreed to a five-year, $205.9 million designated rookie max extension that could be worth as much as $260 million, announced WME agents Bill Duffy and Joe Branch.

Edwards was selected first overall by Minnesota in the 2020 NBA Draft.

“I’m humbled, appreciative and excited to remain in Minnesota as a part of this incredible Timberwolves organization. It’s amazing to see where hard work can take you,” Edwards said.

Upon further review of a few NBA betting sites, the Timberwolves hold 17th-ranked odds to win next season’s championship in 2024. Some sportsbooks are showing better odds for the Memphis Grizzlies, New Orleans Pelicans, and Sacramento Kings.


Edwards’ current contract ends after the 2023-24 season. His $13,534,817 team option for 2023-24 was exercised last October. In November 2020, the Georgia product signed a four-year, $44.27 million rookie scale contract with the Timberwolves.

For Edwards’ upcoming five-year deal, the third-year guard is projected to earn $35.5 million in 2024-25, $38.34 million in 2025-26, $41.18 million in 2026-27, $44.02 million in 2027-28, and $46.86 million in 2028-29. Of course, these annual salaries are estimates and exclude bonuses and incentives.

Minnesota Timberwolves, Anthony Edwards agree to a five-year, $205.9 million designated rookie max extension valued at $260 million; new contract begins in 2024-25

Anthony Edwards, 21, received his first All-Star selection in the 2022-23 season. In 79 starts, the guard averaged career highs of 24.6 points, 5.8 rebounds, 4.4 assists, 1.6 steals, and 36 minutes per game. Ant-Man also shot career bests of 45.9% from the floor and 36.9% beyond the arc.

In the Timberwolves’ 113-104 win over the Houston Rockets on Jan. 21, the Georgia native scored a season-high 44 points in 41 minutes as a starter. Along with notching six boards, four assists, three steals, and three blocks, Edwards shot 17-of-29 (58.6%) from the field and 8-of-16 (50%) from 3-point range.

Additionally, Edwards finished sixth in points (1,946) this past season, third in steals (125), fourth in field goals (707), second in minutes played (2,842), 12th in defensive win shares (3.6), and second in turnovers (259). He also led the NBA in missed field goals (834).


In Game 2 of Minnesota’s 122-113 loss to the Denver Nuggets in the first round of the 2023 NBA Playoffs, Edwards recorded a playoff career-high 41 points. His 41 points set a Timberwolves franchise record for the most points scored in a playoff game, surpassing Sam Cassell’s previous record of 40.

Furthermore, in Game 3 of the first round of the postseason, Edwards scored 36 points in a 120-111 loss against Denver. He joined Kobe Bryant for the second-most 30-point playoff games before turning 22 years old.

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