Mike Conley has signed a two-year contract extension with the Minnesota Timberwolves.
According to ESPN's Adrian Wojnarowski, the deal will see the veteran guard earning $21 million over two years. It will also ensure he doesn't hit the free-agent market in the summer.
Minnesota Timberwolves G Mike Conley Jr. has agreed on a two-year $21 million extension, Steven Heumann and Jess Holtz of @CAA_Basketball tell ESPN. The Timberwolves keep Conley Jr. out of summer free agency and in backcourt thru 2025-2026. pic.twitter.com/M9MSc3zdsr
— Adrian Wojnarowski (@wojespn) February 19, 2024
Conley, 36, has become a core member of Minnesota's starting lineup. He's played in 50 games for Chris Finch's team this season.
He's averaging 10.6 points, 2.9 rebounds and 6.4 assists while shooting 44.6 percent from the field and 44.2 percent from deep.
Minnesota holds the best record in the Western Conference. They're also the best defensive team in the NBA.
Conley is a big part of that success. He's among the best point-of-attack defenders in the league, and his selfless brand of basketball has empowered his teammates to be aggressive on offense.
By securing Conley's future, the Timberwolves are sending a message that they intend to be a contending team moving forward. Their roster construction means they're set to be an expensive team moving forward, especially given the penalties for being above the second tax apron.
According to NBA cap expert Keith Smith, who was posting on X, the Timberwolves will be just under $5 million below the second tax apron with just nine players under contract.
Minnesota's front office will inevitably incur a heavy tax bill. That is unless they trade a high-earning player such as Karl-Anthony Towns.
If we plug in $11M as a placeholder for Mike Conley for next season, the Timberwolves have a projected $184.7M in guaranteed salary on their books for 9 players for next season.
— Keith Smith (@KeithSmithNBA) February 19, 2024
The tax line projects to $171.3M
First apron projects to $178.6M
Second apron projects to $189.5M
By spending so much, the Timberwolves front office will expect significant success. The current roster, led by Anthony Edwards, is capable of being a Western Conference contender.
That has to be this team's floor. Otherwise, the pressure to retool this roster may begin to rapidly build. Fortunately, Conley's contract will be highly desirable in the trade market and could be used as salary matching if the need arises.
There's a lot of basketball to play before retooling the Minnesota roster becomes a possibility. The fan base will be hoping that it doesn't become a reality and this current team is capable of bringing success to the Twin Cities.
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