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:
Two sources close to process tell ESPN com that Kevin Love has NOT yet agreed to contract extension and that talks are still "ongoing"— Marc Stein (@ESPNSteinLine) January 25, 2012
Wolves have been unwilling to budge from four-year, $62M offer to Love, who's eligible for same five-year, $80M deal Westbrook got from OKC— Marc Stein (@ESPNSteinLine) January 25, 2012
Adding to the confusion, Love tweeted a cryptic response that seemed to shoot down reports of a completed deal:
If you read it on the Internet it must be true right? #sarcasm— Kevin Love (@kevinlove) January 25, 2012
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.