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Timberwolves sign Kevin Love to 4-year extension

Posted on: January 25, 2012 1:22 pm
Edited on: January 25, 2012 4:28 pm
 
Posted by Ben Golliver
Kevin Love has agreed to a contract extension. (Getty Images)

After some last minute nip-and-tuck, we have a deal.

The Minnesota Timberwolves announced on Wednesday that the club has "reached an agreement in principle" with All-Star forward Kevin Love on a 4-year contract extension. 

Ken Berger of CBSSports.com reports that Love's extension "is estimated to be worth about $63 million" and includes an early termination option on the final year.

The Timberwolves released a formal statement on Wednesday.
"I am happy for Kevin who deserves to have the financial security that this contract affords him," said David Kahn, Timberwolves President of Basketball Operation. "Kevin has worked extremely hard to earn this and we are thrilled that he'll be with us for many years to come."

"Kevin's decision to commit to the Timberwolves for several more years is, I hope, validation that our team is headed in the right direction," Kahn said. "Kevin is the cornerstone of this team and somebody who I believe all Minnesotans can admire for his hard work and effort.
TwinCities.com reported on Tuesday that the two sides had agreed to a deal worth $62 million but Love took to Twitter to suggest a deal had not yet been finalized. 

The two sides were reportedly haggling over the inclusion of a fifth year on the deal, something possible only if Minnesota were to tag Love as their "designated player." Fellow 2008 Draft standouts Derrick Rose and Russell Westbrook had been given that distinction, but the Timberwolves reportedly preferred a 4-year deal so that they could save the designation for possible future use on rookies Ricky Rubio or Derrick Williams.
 
The Associated Presss got Love's take on the matter on Wednesday.
“Did I want the five years? Of course,” Love said on a conference call from Dallas, where the Timberwolves were scheduled to play the Mavericks on Wednesday night. “It was something I felt strongly about, but at the end of the day, a four-year deal is still great.”

“I was willing to make a commitment for five years. They thought otherwise,” he said.
Locking up Love for four years while maintaining flexibility going forward would have be a coup for Kahn, but sacrificing a guaranteed fourth year of Love's future by compromising on the player option simply wasn't worth it. Love is Minnesota's franchise player and deserved every ounce of the star treatment. Certainly, Minnesota will face some tough decisions as its young core group ages, but the No. 1 priority should have been keeping Love, and keeping Love happy. Barring a catastrophic injury, it's difficult to imagine a scenario where having Love locked in for three years is a better situation than having him locked in for five years.

Minnesota is behind the 8-ball in retaining star players as a small market team with a terrible recent track record, and this was an opportunity to truly secure the future. Instead, Minnesota got 60 percent of the way there. Why not totally bury the contract distraction and all the questions that go with it? The Timberwolves plain over-thought this one.

Love, 23, was the No. 5 pick in the 2008 NBA Draft after spending one season at UCLA. He's generally regarded as one of the league's top-3 rebounders and he was recently named as one of 20 finalists for the United States' 2012 Olympics team. He was the NBA's leading rebounder in 2010-2011 with 15.2 per game, earning recognition as the NBA's 2010-2011 Most Improved Player and being named to the 2011 Western Conference All-Star Game.

Love is averaging 24.9 points, 13.9 rebounds and 1.7 assists in 39.4 minutes per game this season.
Comments

Since: Oct 10, 2006
Posted on: January 26, 2012 4:53 pm
 

Timberwolves sign Kevin Love to 4-year extension

The can extend him again during this contract you know.  I have to say that Kahn did a great job with this contract leaving room for free agents, Rubio and Williams (if he learns the NBA game).  You bring up some good points though.



Since: Dec 31, 2008
Posted on: January 26, 2012 1:14 am
 

Timberwolves sign Kevin Love to 4-year extension

2 HOR'ers
I meant, HOF'ers (hall of famers)



Since: Dec 31, 2008
Posted on: January 26, 2012 1:13 am
 

Timberwolves sign Kevin Love to 4-year extension

You know that they CAN talk to him about another extension while he is under contract right?

They are just keeping their options open, seeing as how you need 2-3 superstars to win a title in the NBA, that does not seem to shortsighted.
You know he CAN also just sign somewhere else in 3 years, thus keeping HIS options open. Trust me, he knows the new formula in the NBS for success; three stars on one team. They wont win with just him, both sides can probably see that. Are they going to go out and get the other pieces, or let him waste away?

Pippen to another players Jordan.
2 HOR'ers, one widely considered the greatest of all time, 6 time world champions. Yeah, Id say Kevin Love is exactly like those guys, he just needs a Jordan and he'll be all set. I mean, obviously there's only been one of him - ever, but here's to keeping the dream alive!



Since: Jul 22, 2010
Posted on: January 26, 2012 12:55 am
 

Timberwolves sign Kevin Love to 4-year extension

 I think the Wolves may be getting it done right!  This gives them stability to keep and sign free agents.  He is the real deal and you can't let this guy get away!  Good job Wolves!



Since: Jun 25, 2010
Posted on: January 25, 2012 11:46 pm
 

Timberwolves sign Kevin Love to 4-year extension

glad they got it done now its time for the,T-Wolves to get better and better as a basketball team things ARE lookin up after so many dark and gloomy days...GO Wolves



Since: Mar 21, 2007
Posted on: January 25, 2012 10:48 pm
 

Timberwolves sign Kevin Love to 4-year extension

He needs to stop camping out on the three point line though.



Since: Apr 18, 2009
Posted on: January 25, 2012 10:47 pm
 

Timberwolves sign Kevin Love to 4-year extension

To all the people freaking out about the Wolves not locking him up for five years:

You know that they CAN talk to him about another extension while he is under contract right?

They are just keeping their options open, seeing as how you need 2-3 superstars to win a title in the NBA, that does not seem to shortsighted. Now they have money to bring in another star at the max, or lock up one of their young players if they become a star. I think Kevin Love is a really really good player, but he is more of a complimentary superstar, if that makes sense. His skill set seems to fit best for being player 1b, or the Pippen to another players Jordan.


talllonggirl
Since: Jan 25, 2012
Posted on: January 25, 2012 10:27 pm
This comment has been removed.

Post Deleted by Administrator




Since: Dec 5, 2006
Posted on: January 25, 2012 9:38 pm
 

Timberwolves sign Kevin Love to 4-year extension

Certainly, Minnesota will face some tough decisions as its young core group ages, but the No. 1 priority should have been keeping Love, and keeping Love happy. Barring a catastrophic injury, it's difficult to imagine a scenario where having Love locked in for three years is a better situation than having him locked in for five years.
This criticism shows a lack of understanding of the CBA. The operative provision is that a max contract is limited to 25% of salary cap for years 1-7 and 30% for years 8- 10 and 35% for years 11 and beyond. This contract allows Love to opt out after three years which makes him eligible for 30% in the next contract. Love will almost certainly take that opt out if he is healthy and believes he will get a max contract from someone. Five years gives Love more security and does nothing for the team because Love would still demand an opt-out after three years. At that time he will have 7 years in the league and eligible for 30% of salary cap.

For more information click for NBA Salary Cap FAQ.



Since: Oct 27, 2010
Posted on: January 25, 2012 8:08 pm
 

Timberwolves sign Kevin Love to 4-year extension

Solid move by the Twolves and Love. I suspect Love became receptive to signing the extension with the addition of Rubio this year. He is really turning the team around with his passing. 


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com