Jaden McDaniels, Timberwolves reportedly agree to $40M extension

The Minnesota Timberwolves and forward Jaden McDaniels have agreed to a one-year, $40 million extension, ESPN's Shams Charania reports .

The deal keeps McDaniels under contract through the 2029-2030 season.

McDaniels is set to play this season on the third year of a five-year, $131 million contract. His $40 million salary in 2029-2030 will be a raise of $13.8 million over the average annual value of that deal. McDaniels, 26, will be 30 years old at the conclusion of his newly structured contract.

McDaniels is a former All-Defensive Team selection (2023-24) who's been key to Minnesota's playoff success in recent seasons. The Timberwolves have advanced to the Western Conference finals or semifinals in each of the last three postseasons, and McDaniels has increased his production from the regular season in each of those playoff runs.

He's coming off a 2024-25 regular season in which he averaged a career-high 14.8 points alongside 4.2 rebounds, 2.7 assists, 1.1 steals and 1 block per game. He shot 51.5% from the field and a career-best 41.2% on 7.7 3-pointers per game.

McDaniels increased his production to 16.3 points and 5.4 rebounds per game in the postseason as the Timberwolves beat the Nuggets before losing to the Spurs in the second round.

He's a key piece of Minnesota's core alongside Anthony Edwards, Rudy Gobert and LaMelo Ball, whom the Timberwolves acquired from the Hornets in the offseason.