Kevin Love, Timberwolves Reach 4-Year Extension Agreement

The Minnesota Timberwolves have reached a four-year contract extension with Kevin Love just before the league's in-season deadline. Love can become an unrestricted free agent in 2015.

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Kevin Love Wanted 5-Year Extension From Timberwolves, Considered Free Agency

Kevin Love agreed to a four-year contract extension with the Minnesota Timberwolves on Wednesday, beating the deadline for Early Bird deals for potential 2012 restricted free agents. But the way he tells it, he wanted to sign a five-year deal with Minnesota, and when the Wolves wouldn't offer it, considered going into free agency.

From the Minneapolis Star-Tribune's Jerry Zgoda:

Love said he "definitely considered" waiting to become a restricted free agent next summer and an unrestricted free agent in 2013 when the Wolves offered a four-year deal and he wanted five. [...]

"Yeah, I definitely considered that," he said about not signing now. "Me personally, I wanted to make a five-year commitment. When they weren't willing to do, I feel like four years is good."

The deal Love signed includes an opt-out in 2015, similar to deals players like LeBron James and Chris Bosh signed after three years in the league. James and Bosh, of course, left once their seven seasons with their incumbent teams were up.

For more on the Wolves, visit Canis Hoopus.

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Kevin Love, Timberwolves Reach 4-Year Extension Agreement

Kevin Love has reached an agreement on a four-year Early Bird contract extension with the Minnesota Timberwolves, report Marc Stein and Chris Broussard of ESPN.com. The deal is worth a reported $62-64 million, near the maximum contract for a player of Love's experience. The Timberwolves confirmed that a deal had been reached.

Love will also have the option of becoming an unrestricted free agent after three seasons, in 2015, according to the report. The Wolves could have locked Love into a five-year deal without an opt-out as the Oklahoma City Thunder did with Russell Westbrook. Both Westbrook and Love were added to the NBA All-Star Game by the league's coaches last season, and are expected to be All-Stars again this year. They were teammates at UCLA in 2007-08.

Love is currently averaging nearly 25 points and 14 rebounds for the surprisingly decent Timberwolves, who have seen a major uptick thanks to the arrival of coach Rick Adelman and point guard Ricky Rubio.

Under terms of the new collective bargaining agreement, the Wolves will be able to offer a five-year Early Bird extension before 2017. Teams are allowed one such extension over the entire span of the CBA.

For more on the Wolves, visit Canis Hoopus and SB Nation Minnesota.

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Kevin Love, Timberwolves Haven't Yet Reached A Deal, According To Report

Despite reports earlier Tuesday evening out of Minnesota that Kevin Love and the Timberwolves have agreed to a four-year extension worth $62 million, ESPN's Marc Stein reports that a deal has not actually been struck:

Adding to the confusion, Love tweeted a cryptic response that seemed to shoot down reports of a completed deal:

So for now, it seems we're back to where we started: no deal, yet, but they might be close, unless they're not. Got it?

The current CBA allows each team to use a one-time only "designated player" tag on a player to extends his rookie contract by five years. The Wolves apparently want to hold onto that tag to keep their options open down the road. If they don't bend, Love can either accept a four-deal or become a restricted free agent next year. We'll find out who blinks first by the NBA's deadline at midnight (ET) Wednesday evening.

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Kevin Love Agrees To 4-Year, $62 Million Extension With Timberwolves, According To Report

Kevin Love and the Minnesota Timberwolves agreed Tuesday to a four-year extension worth $62 million, according to Ray Richardson of the Pioneer-Press.

Richardson reports that Love is expected to sign the contract on Wednesday afternoon -- making the deal official just hours before the NBA's midnight (ET) deadline. Had the two sides not reached common ground in time, Love would have become a restricted free agent this summer. Instead, he's locked up for the foreseeable future.

Earlier this week, Christopher Gates of SB Nation Minnesota noted Love's fantastic start to the season:

If there's a better power forward in the league than Kevin Love, I really don't know who it would be. Love has notched a double-double in each of the Timberwolves' first 15 games, which is one shy of the NBA record for most consecutive double-doubles to start a season. He is also currently the only player in the NBA in the top five in scoring (fifth at 24.7 points/game) and rebounding (second at 14.5 boards/game). For good measure, he's also hitting nearly 40% of his three-point attempts.

Gates must have jinxed Love, who came two rebounds shy of a double-double in the Wolves' 16th game, but Love responded on Monday with 39 points and 12 boards. Love came into his own last season, and he's taken the next step into truly elite company this year, ranking No. 6 in SB Nation's latest MVP Power Rankings, sandwiched between the likes of Dwight Howard and Derrick Rose.

For more on the Wolves and Love, visit Canis Hoopus and SB Nation Minnesota.

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