All-in on Ant: Timberwolves give Anthony Edwards a contract that could be worth $260 million

On draft night in 2020, Anthony Edwards had questions for local reporters about his new home in Minnesota.

"Is it called St. Paul?" he said, asking if that was one of the Twin Cities. He also asked if that big mall was called "Mall of America."

As the Atlanta native learned about his new home over the past three years, his precocious personality and electric play on the court quickly endeared him to Wolves fans everywhere, and the place he didn't know too much about that night in 2020 looks to be his home for at least another half-decade.

Edwards and the Timberwolves agreed to terms on a maximum five-year contract that will kick in for the 2024-25 season worth up to potentially $260 million, sources confirmed Monday. The No. 1 pick of the 2020 draft so far has lived up to the hype, culminating in two playoff appearances in which Edwards has averaged 28.1 points, and an All-Star selection last season. The deal can become official Thursday.

"I'm humbled, appreciative and excited to remain in Minnesota as part of this incredible Timberwolves organization," Edwards said in a statement. "It's amazing to see where hard work can take you."

Edwards will make approximately 25% of the salary cap, which should be around $35 million next season, and that number will only go up with each season. The value of the contract could increase an additional 5% of the cap if Edwards makes the All-NBA team this season. That potential All-NBA selection is the difference between the total value of the contract being around $217 million or $260 million. Edwards must play in at least 65 games next season to qualify for the All-NBA team, a benchmark set in place for the upcoming season by the new collective bargaining agreement.

In his three seasons, Edwards averaged 21.8 points per game while never playing in fewer than 72 games. He averaged a career-high 24.6 points last season. For next season, Edwards, who plans to play for Team USA in the FIBA World Cup, told the Star Tribune he wants to improve his contested shotmaking and be the one who takes the final shot most of the time for the Wolves. He also said his pay bump wasn't the top reason why he plays in the NBA.

"I'm ready to play. I'm not even — that's cool. The money cool," Edwards said. "But I love the game of basketball. I don't do it for the money. I do it because I just want to be known who they say, 'He was a great player.' "

In addition to agreeing to his deal Monday, Edwards also announced a new initiative in Minnesota called "Don't Follow the Wave," a campaign aimed at helping underserved youth in the community with Edwards' time and resources.

Even as the Wolves are looking to compete now with Karl-Anthony Towns and Rudy Gobert as their highest-paid players next season, President of Basketball Operations Tim Connelly said in May the focus of everything the Wolves do has to be with Edwards in mind.

"Pretty much every decision we're going to make moving forward is going to be with Ant paramount," Connelly said. "We're tasked with developing I think the best 21-year-old in the world who's a great, great kid who wants it, who's so competitive, whose work ethic is off the charts. As he grows, we want him to see winning and we want him to be around winners."

Along those lines, the Wolves also are looking to extend the contract of forward Jaden McDaniels, whom the team took with the 28th pick in the same draft as Edwards. McDaniels has blossomed into one of the league's best perimeter defenders with a growing offensive game. His contract negotiations may not be as cut-and-dried as Edwards', but the Wolves and Connelly are committed to locking him up long-term. Look for McDaniels to get a deal that pays him in the mid- to high $20 millions, perhaps above $30 million by the end of the deal.

"The minute we're allowed to, those guys are going to have really, really nice offers with a lot of money in their inbox," Connelly said in May of Edwards and McDaniels.