The Timberwolves have engaged in talks with big man Naz Reid and swingman Jaylen Nowell about possible contract extensions, reports Shams Charania of The Athletic.
Reid has been a regular part of the Timberwolves’ frontcourt rotation since 2019, averaging 9.5 PPG, 4.2 RPG, and 1.0 BPG on .490/.344/.720 shooting in 179 career contests (17.2 MPG) since making his debut in 2019. Nowell, who joined the team at the same time, has been a fixture on the wing, averaging 8.3 PPG in 122 career appearances (16.0 MPG), including 15.0 PPG through three games this season.
Reid and Nowell are both in the final season of four-year contracts they signed back in 2019. Because they’re on expiring deals, they’ll remain eligible to sign extensions all the way up until June 30, 2023, the day before they become unrestricted free agents.
Veteran extensions for players on minimum-salary contracts like Reid and Nowell can begin at 120% of this season’s estimated average salary. As we noted when the NBA set its salary cap for 2022/23, this season’s estimated average salary is $10,792,000, so 120% of that amount is $12,950,400. Therefore, a maximum four-year extension that includes 8% raises would be worth about $58MM.
It’s unlikely that either Reid or Nowell will get a four-year, $58MM offer from the Timberwolves, but it’s possible they’ll be able to reach a compromise somewhere below that maximum.
It sounds as if Reid is a more likely extension candidate than Nowell, who is expected to opt for unrestricted free agency next summer, sources tell Charania.