Naz Reid opted out of his contract and agreed to a five-year $125 million extension with the Minnesota Timberwolves ahead of free agency. While the length is a bit surprising, the value is reasonable for Reid, given his rare blend of size, playmaking, shooting, and shot creation. Plus, re-signing Reid was a clear priority for the Wolves heading into free agency.
With Julius Randle and Nickeil Alexander-Walker needing new contracts, it has long been believed that Minnesota would be unable to retain all three players. After this move, it’s all but guaranteed that Alexander-Walker won’t be returning to Minnesota. Re-signing Reid at this price also changes Randle’s outlook a bit.
Breaking: Minnesota Timberwolves Naz Reid intends to sign a new five-year, $125M contract to stay with the franchise, including a player option, sources tell @ShamsCharania. pic.twitter.com/PBxWSWoeev
— ESPN (@espn) June 28, 2025
Nickeil Alexander-Walker feels poised to leave
As a spot-up shooter, versatile defender, and secondary playmaker, Alexander-Walker offers everything you could ask for from a complementary wing. This past season, Alexander-Walker averaged 9.4 points, 3.2 rebounds, and 2.7 assists on 43.8/38.1/78 shooting splits. Undoubtedly, this will make NAW a hot commodity on the open market. It’s expected that Alexander-Walker will receive at least the full mid-level expectation worth $14 million annually.
Unfortunately, the Wolves will be priced out of Alexander-Walker, especially given how much they paid Reid. Even if they re-signed Reid to a lesser amount, it would be challenging to afford Alexander-Walker. The Wolves are also looking to re-sign Randle on a sizable contract and will likely prioritize him over NAW.
Losing Alexander-Walker will hurt, given his all-around impact. However, he feels like the clear odd man out with Reid and Randle needing to be brought back. Furthermore, with Terrence Shannon Jr. and Jaylen Clark, the Wolves have two replacements for Alexander-Walker. Even Chris Finch hinted that the Wolves would not be able to re-sign Alexander-Walker, by saying he “absolutely expects” Reid and Randle to return, but didn’t mention NAW in the same interview.
Overall, it already felt highly likely that the Wolves would have to let Alexander-Walker leave, and re-signing Reid at this price sets this in stone.
Randle's free agency outlook
Given Randle’s importance as a secondary creator next to Anthony Edwards, the Wolves will still likely re-sign him. However, they will probably dip into the second-apron to do so. Randle has a $30.9 million player option. It remains unclear if he’ll opt in and agree to an extension or opt out and seek an entirely new contract. Notably, Randle has until June 29th to opt in or out. With Reid's extension, both sides could be motivated to get a deal done before the start of free agency.
The amount of money Minnesota committed to Reid could mean one or two things for Randle. On one hand, they could be going all-in on this core and will re-sign him to a long-term deal within the high 30s annually. Conversely, the Wolves could re-sign him to a cheaper contract with less annual value, as they could be a bit hampered by the amount of money they committed to Reid. The latter feels more likely to me.
Unlike Reid, Randle doesn’t have clear suitors on the open market, giving the Wolves some leverage. Regardless, this move made Randle's price point even harder to gauge. Ultimately, Reid’s extension all but confirms what was already speculated about the Wolves' free agency; they are re-signing Randle and Reid but likely not Alexander-Walker.