Timberwolves set to give point guard Mike Conley a two-year extension

A festering question for the Timberwolves since they traded for Mike Conley a season ago was about the team’s long-term plan at point guard.

Conley, after all, is 36 and was in the final season of his contract.

The answer to that question, at least for the next two years, is Conley.

The veteran point guard agreed to a two-year deal for $20.75 million, sources confirmed.

Conley’s leadership and steady hand guiding the offense, especially in late-game situations, have helped the Wolves reach the top of the Western Conference standings at the All-Star break.

He is in his 17th NBA season since he was selected fourth overall in the 2007 draft out of Ohio State by the Memphis Grizzlies. Conley is averaging 10.6 points and 6.4 assists for the Wolves in 28.9 minutes through 50 games this season, shooting 44% from three-point range. He arrived in Minnesota a year ago from Utah in a three-team trade that also involved the Lakers.

Conley’s major contribution has been helping the team avoid the late-game meltdowns that occurred far too frequently last season.

“I try to make it easier on everybody else, so they don’t have to think as much,” Conley said recently. “I can do all the thinking and just put you in the right spot. It’s about us repping those certain plays that we’ve done a million times and trusting each other in those moments.

“That’s kind of my job when I got here was to figure out how we can blend our first three quarters with our fourth quarter and late-game situations. Now that I know the guys and know where people like the ball, actions that we’re good at late game, you start to have progressions with plays. We can run a couple plays back to back and have different reads from them.”

Conley was initially surprised at the deal, in which the Wolves basically dealt D’Angelo Russell for him and Nickeil Alexander-Walker in February 2023, but Conley quickly connected with the organization and the area. He moved his family to the Twin Cities and bought a home intending to stay past his current deal.

Wolves President Tim Connelly has made it a priority to cultivate a team of good personalities who mesh well in a locker room, and no player in the NBA fits that bill more than Conley, who has a reputation as one of the nicest players and best teammates in the league.

It was a priority for Connelly to get a deal done with Conley, and after waiting to see how the trade deadline affected the Wolves roster and balance sheet moving forward, the sides got a deal done.

Conley’s expiring contract was a three-year deal worth $68 million, and he’s making $24.36 million this season, according to Spotrac. Signing him won’t exactly alleviate the Wolves’ luxury tax crunch next summer, if they want to run this team back with the same five starters. Karl-Anthony Towns, Rudy Gobert, Anthony Edwards and Jaden McDaniels are all set to make money that’ll have the Wolves flirting with or exceeding the second apron of the luxury tax, and that can limit some of the Wolves’ ability to build out a roster.

But if the team is successful enough this postseason, ownership might be willing to go into the tax to keep the team together. Marc Lore and Alex Rodriguez, who are set to become controlling owners in the next few months, haven’t publicly said what their plans may be next season as far as paying a luxury tax.

If the Wolves do go far this season and in the near future, Conley will play a significant part in that. Now the Wolves have clarity that he’ll likely be here to see through this iteration of the Wolves.