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.