Hoops Rumors

Hoops Rumors is checking in on the 2025 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Minnesota Timberwolves.

Free agent signings

• Naz Reid: Five years, $125,000,000. Fifth-year player option. Re-signed using Bird rights.
• Julius Randle: Three years, $100,000,000. Third-year player option. Re-signed using Bird rights.
• Joe Ingles: One year, minimum salary. Re-signed using minimum salary exception.
• Bones Hyland: Exact details TBD.

Trades

• Acquired the draft rights to Rocco Zikarsky (No. 45 pick; from Lakers), either the Warriors’ or Nuggets’ 2026 second-round pick (whichever is least favorable; from Suns), either the Suns’ or Rockets’ 2032 second-round pick (whichever is most favorable; from Suns/Rockets), and cash ($3.25MM; from Lakers) in a seven-team trade in exchange for the draft rights to Rasheer Fleming (No. 31 pick; to Suns).
• Acquired the Cavaliers’ 2027 second-round pick and cash ($1.5MM) from the Hawks in exchange for Nickeil Alexander-Walker (sign-and-trade).

Draft picks

• 1-17: Joan Beringer
  • Signed to rookie scale contract (four years, $20,331,643).
• 2-45: Rocco Zikarsky
  • Signed to two-way contract.

Two-way signings

• Enrique Freeman
  • One year, $85,300 partial guarantee (will increase to $318,218 at start of regular season).
• Rocco Zikarsky
  • Two years, $85,300 partial guarantee (will increase to $318,218 at start of regular season); second year partially guaranteed for maximum two-way protection amount (will increase to 50% at start of regular season).

Departed/unsigned free agents

• Nickeil Alexander-Walker (Hawks)
• Jesse Edwards (Melbourne United)
• Luka Garza (Celtics)
• Bones Hyland (unsigned)
• Josh Minott (Celtics)
• Tristen Newton (unsigned)

Other roster moves

• Re-signed Jesse Edwards to a two-way contract ($85,300 partial guarantee), then waived him.

Salary cap situation

• Operating over the cap ($154.6MM) and above the luxury tax line ($187.9MM).
• Carrying approximately $200.3MM in salary.
• No hard cap.
• Full taxpayer mid-level exception ($5,685,000) available.
• One traded player exception available ($7,580,900); one traded player exception frozen ($4,686,880).

The offseason so far

Given that the Timberwolves have only advanced beyond the first round of the playoffs three times in franchise history, it’s not an exaggeration to call the last two seasons – which saw them appear in back-to-back Western Conference Finals – the most successful stretch in team history. However, entering the 2025 offseason, financial concerns threatened to put a dent in a roster that had won four postseason series in the past two years.

Marc Lore, Alex Rodriguez, and their “deep-pocketed” ownership group finally assumed majority control of the Timberwolves in June, while defensive anchor Rudy Gobert took a pay cut of nearly $9MM on a new deal that began in 2025/26. But after operating above the second tax apron in ’24/25, the Wolves weren’t eager to surpass that threshold for a second consecutive year. That meant the club likely wouldn’t be able to re-sign all three of its top free agents, Naz Reid, Julius Randle, and Nickeil Alexander-Walker.

The Wolves chose to prioritize Reid and Randle, reaching a five-year, $125MM agreement with the former and a three-year, $100MM deal with the latter. Since both Reid and Randle are power forwards, there was an argument for letting one of them walk, but Minnesota was a much better team when both players were available, since it allowed Reid – the Sixth Man of the Year in 2023/24 – to go to work against second units and created more frontcourt optionality. The Wolves had a 44-25 record in games Randle played, compared to a 5-8 mark when he was sidelined.

Reid’s $125MM contract, which is fully guaranteed with a fifth-year player option, was actually the most lucrative deal signed by any free agent this summer. That may seem like an aggressive investment in a player who doesn’t project to be a starter, but the 26-year-old has been one of the league’s most effective reserves in recent years and would be fully capable of stepping into a starting role in the event that Randle is traded at some point in the next couple seasons.

Reid’s new contract will also cover his prime years and isn’t an anomaly when compared to deals around the league. DeMar DeRozan, Miles Bridges, Tobias Harris, John Collins, RJ Barrett, Jerami Grant, and Khris Middleton are among the forwards who will earn between $3-12MM more than Reid in 2025/26.

Randle, meanwhile, turned down a $30.9MM player option in favor of a multiyear deal that starts at the same price. The three-time All-Star has taken some flak for his inconsistent three-point shot and mediocre defense, but he’s a talented, scorer, play-maker, and rebounder who had an excellent postseason (21.7 PPG, 5.9 RPG, and 4.9 APG on .502/.385/.880 shooting), and he should be more comfortable in his second year in Minnesota following his first full offseason as a Timberwolf. He had little time to adjust to new his home last fall when the Knicks traded him to the Wolves at the start of training camp.

With Reid and Randle back in the fold, the Wolves didn’t have enough room below the second apron for Alexander-Walker, who received a four-year, $60MM+ contract from the Hawks.

Minnesota got a future second-round pick and cash as part of that sign-and-trade transaction, but lacked the resources to acquire a direct replacement for Alexander-Walker, a three-and-D guard, in free agency or on the trade market. The Wolves will be betting on increased contributions from a trio of in-house backcourt youngsters, with Rob Dillingham, Terrence Shannon Jr., and Jaylen Clark each likely getting the opportunity to compete for an increased role in 2025/26.

Although the Wolves also used a first-round pick on Joan Beringer and re-signed Joe Ingles to another minimum-salary contract, Beringer is an 18-year-old who will be playing stateside for the first time and Ingles shifted into the “locker room leader” phase of his career last season by logging 114 total minutes in 19 outings. It’s probably not realistic to expect major contributions from either player this season.

Up next

The Timberwolves entered the day on Monday with just 13 players on standard contracts and a team salary roughly $5.86MM below the second tax apron. Bones Hyland has since signed a contract – presumably worth the minimum – that could line him up to be Minnesota’s 14th man.

It’s possible Hyland will simply get that 14th roster spot and the Timberwolves will carry a 14-man standard roster into the regular season, but it’s not quite that simple.

For one, we don’t know yet how much (if any) of Hyland’s salary is guaranteed. Is he being handed a roster spot or will he have to compete for one? If it’s the latter, he could be the first of a handful of veteran free agents to reach deals with the Wolves, similar to how the Knicks agreed to terms with Landry Shamet, Garrison Mathews, and Malcolm Brogdon in a 24-hour span last week.

Minnesota also has enough wiggle room below the second apron to add a 15th man on a minimum deal or even using a modest portion of the taxpayer mid-level exception. But the Wolves are far enough into the tax that they’d be paying a penalty of $3.50 per dollar on that 15th man’s salary, so it would have to be someone they really like.

For what it’s worth, I’ve long thought that it would be in the Wolves’ best interest to add another veteran point guard to provide depth behind Mike Conley, who will be entering his age-38 season. Donte DiVincenzo and Hyland aren’t really true point guards, and it’s unclear if Dillingham will be ready to take on that role in his second NBA season. Brogdon would’ve been a nice fit, but there are other options still out there, including Cameron Payne and another one of Connelly’s former Nuggets, Monte Morris.

The Wolves have an open two-way slot available alongside Enrique Freeman and second-round pick Rocco Zikarsky, but the expectation is that Tristen Newton will fill it. The 2024 second-rounder reportedly agreed a month-and-a-half ago to sign his two-way qualifying offer, but that move still hasn’t been officially confirmed by either the team or the league. Assuming it gets done as expected, Minnesota’s two-way players should be set for the season.

As for potential extension-eligible players, most of the Wolves’ core players are already on longer-term deals. The only players eligible for extensions this fall are DiVincenzo and Leonard Miller.

A DiVincenzo extension isn’t out of the question, but he has two guaranteed years left on his current contract, so I doubt the Wolves will be in a hurry to get something done with him at this point unless he’s willing to give them a pretty team-friendly rate.

Miller, meanwhile, has barely seen the floor in his first two NBA seasons, playing just 84 total minutes in 30 appearances. At this point, extending his current deal is probably less of a priority than simply making sure he shows enough to finish out that expiring contract without being waived.