Sources told ESPN’s Shams Charania on Friday that Naz Reid, the Timberwolves Center in Minnesota, intends to sign a new five-year, $125 million contract to retain the franchise.
Naz Reid is eligible to sign a four-year, $87.2 million extension
According to Reid’s agents, Sean Kennedy and Jeff Schwartz of Excel Sports, the deal also includes 2029-30 player options. The contract will not be officially signed until July 6.
Reid turned down the $15 million player option for next season and decided to stay with Minnesota, despite the possibility of getting a more attractive contract offer from the team and potentially playing a role in free agents.
The 25-year-old is eligible to sign a four-year, $87.2 million extension starting June 27. The $15 million player option next season will be replaced by a $19 million spending.
Only in: Naz Reid of Timberwolves, Minnesota, intends to sign a new five-year, $125 million contract to retain with players, including player selection, and tells ESPN. The important agreement between Wolf and Agent Reed, Sean Kennedy and Jeff Schwartz of Excel Sports. pic.twitter.com/ff9mjgvwb9
– Shams Charania (@shamscharania) June 28, 2025
Additionally, Reid could have opted in and then signed a four-year $94.2 million extension. The first year’s $21 million salary will begin in 2026-27.
After winning the 2023-24 Sixth Man, Reed averaged 14.2 points, 6.0 rebounds, 2.3 assists and 27.5 minutes in 80 games last season (17 games).
In 15 games on the bench in the 2025 playoffs, he scored 10.4 points, 4.7 rebounds, 1.7 dimes and a playoff top 25 minutes in each game, while shooting up to 50.9% from the field.
Reid ranked first in the 2024 and 2025 playoffs and ranked first in the basketball reference.
Julius Randle (Nickeil Alexander Walker) May Become a Free agent
According to ESPN’s Bobby Marks, Minnesota has a salary of more than $110 million, which is the starters of the 2026-27 season, Anthony Edwards, Jaden McDaniels and Rudy Gobert.
Reid signed a multi-year contract, which means Julius Randle and/or Nickeil Alexander-Walker could be free agents. Neither Randle nor Alexander-Walker may be able to return, as the cost of retaining all three players will push the Timberwolves toward salary of more than $250 million before entering the second apron again.
Randle has a player option worth $300.93 million next season. He will have to choose his contract for next season until June 29, with the deadline for Wolves facing Josh Minott ($2.2 million) and Luka Garza ($2.3 million).
Including player options for Reid and Randle, as well as a first-round draft pick in Detroit, the Timberwolves are below the second apron.
Randall is eligible for contract extension with Timberwolves
If Randle chooses to sign a contract, it is eligible to sign up to four years and $194 million. However, the $43 million price in 2025-26 is $13 million higher than his player option.
Last week, Timberwolves coach Chris Finch was asked if he expected both Reid and Randle to enter the roster next season. Through Reed’s signing, Wolves fans now have an answer.
“Absolutely, yes,” Finch told KFAN’s Paul Allen through Jon Krawczynski of track and field.
“I think both players want to be there. That’s the most important thing. We certainly want them there. I know [Wolves president of basketball operations] Tim Connelly is working to make sure they complete some kind of deal, make them happy and want to stay and be grateful for the team taking care of them. ”
The 2025 NBA free agent period begins at 6 pm on June 30.
