The wait is finally over. The Minnesota Timberwolves waited until the last possible day, but they were able to iron out a contract extension for Jaden McDaniels before the deadline passed at the end of the day on Monday.
It was announced just after 1:00 PM CT by Shams Charania that Minnesota would be inking Jaden McDaniels to a five-year, $136 million extension. Wolves fans had been waiting to hear news on this suspenseful topic for some time.
The main reason for the anticipation surrounding McDaniels’ extension talks was that he would have become a restricted free agent if he had not signed by the end of the day today. This would have allowed him to begin listening to any potential offers from other teams.
But with McDaniels now officially back on board in Minnesota, fans can breathe a sigh of relief. At the same time, they may also want to jump with joy, as the number on this deal looks to be rather favorable for the team moving forward.
Minnesota Timberwolves forward Jaden McDaniels has agreed to a five-year, $136M contract extension, his agents Nima Namakian of @InnovateSports and Bill Duffy of @WME_Sports tell me and @JonKrawczynski.
— Shams Charania (@ShamsCharania) October 23, 2023
Jaden McDaniels’ extension is excellent for the Timberwolves
At first glance, it appears the Timberwolves got an excellent deal on the five-year, $136 million contract. Many will look at this number and call it an overpay, but there are a few factors to consider when making that determination.
In the modern NBA landscape, a contract paying around 27 million per year is not unheard of for a player of his caliber. As contract inflation rises, this deal will probably be looked at as a bargain in a few years. Many were anticipating the deal being more in the range of five years, $150 million.
On top of that, Jaden McDaniels has absolutely earned this extension. The Timberwolves are paying him based on who he projects to be for them in the future, but also on what he has already done.
Last season, McDaniels was one of the top three-and-D players in the NBA. He will continue to be the Robin to Anthony Edwards’ Batman, and that is worth breaking the bank for.