Report: Mike Conley signs 2-year extension with Timberwolves

Minnesota has solved its starting point guard conundrum for the 2024-25 and 2025-26 seasons by agreeing to a two-year contract extension with Mike Conley. 

According to ESPN's Adrian Wojnarowski, Conley and Minnesota have agreed to a two-year deal that will pay the 36-year-old point guard a total of $21 million over the duration of the contract. Shams Charania of The Athletic is reporting that the two-year deal is worth $22 million. 

Either way, it's a bargain of a deal for an efficient point guard who serves as a stabilizing force in Minnesota's turnover-prone lineup. 

Conley's deal, at $10.5m or $11m per season, pushes the amount of money the Wolves have committed to players in 2024-25 to more than $180 million for just seven players. 

• Karl-Anthony Towns: $49.7m
• Rudy Gobert: $43.8m
• Jaden McDaniels: $22.5m
• Anthony Edwards: $35.5m
• Naz Reid: $13.9m
• Mike Conley: $11m
• Nickeil Alexander-Walker: $4.3m

With the luxury tax threshold projected to be around $172 million next season, the Timberwolves will either be shedding salary or paying the price for exceeding the limit in 2024-24.