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Timberwolves, Mike Conley agree to a two-year, $21 million contract extension

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James Foglio
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James Foglio Sports Editor

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Sports Editor

Updated19 Feb 2024

Minnesota Timberwolves, Mike Conley agree to a two-year, $21 million contract extension

The Minnesota Timberwolves have agreed to a two-year, $21 million contract extension with Mike Conley, agents Steven Heumann and Jess Holtz of CAA Basketball announced Monday.

The Ohio State product was in the final season of the three-year, $68.04 million contract he signed with the Utah Jazz in August 2021. He is slated to make $10.24 million in 2024-25 and 2025-26.

Conley’s new deal will keep him out of summer free agency and under contract through mid-2026. Utah traded the 2021 All-Star guard to the Timberwolves in February 2023.

Per multiple NBA betting sites, the Timberwolves hold seventh-shortest odds to win the championship. Sportsbooks are showing better odds for the Denver Nuggets, Los Angeles Clippers, and Phoenix Suns.


Conley reunited with Rudy Gobert in Minnesota and bolstered the team chemistry. He has benefited the play of Anthony Edwards and Karl-Anthony Towns as well.

The Wolves are 37-13 with Conley and 2-3 without him this season.

His veteran leadership and consistent point guard play has helped lead the Timberwolves to a Western Conference0-best 39-16 record. Only the Celtics (43-12) in the East have a better record.

Minnesota Timberwolves guard Mike Conley is second in assist-to-turnover ratio below Tyus Jones

Minnesota’s starting five is now under contract in 2024-25. The club has $175 million in salary next season. The Wolves will also be a second apron team in 2024-25, per ESPN’s Bobby Marks.

Through 50 games (all starts) this season, the 17-year veteran is averaging 10.6 points, 2.9 rebounds, 6.4 assists, 1.0 steal, and 28.9 minutes per game while shooting 44.4% from the field and a career-best 44.2% from 3-point range.

His effective field goal percentage (59%) is the best of his career as well.


Conley notched a season-high 10 assists in four different games this season. Plus, he drained a season-high six 3-pointers against the Memphis Grizzlies (Nov. 26) and Milwaukee Bucks (Feb. 8).

In Minnesota’s 127-103 win over Memphis on Dec. 8, the 6-foot guard recorded a season-high 19 points, four rebounds, and seven assists in 33 minutes of action.

“Mike’s been doing this his entire career. They called him Captain Clutch in Memphis for a reason,” Timberwolves coach Chris Finch said about Conley after he posted his fourth double-double of the season on Jan. 18.

Furthermore, Conley ranks second in assist-to-turnover ratio in the league, trailing only Washington Wizards guard Tyus Jones — according to the Basketball-Reference database.