Brian Windhorst recently discussed the future of the Minnesota Timberwolves on First Take, expressing significant doubts about the team’s ability to maintain its current roster due to the massive financial implications. According to Windhorst, the Wolves are on the verge of a “financial cliff,” primarily driven by substantial salary increases for their key players and the looming luxury tax penalties.
“When you’re talking about the Wolves’ future, you have to kind of take a step back and understand everything that’s going on. they’re headed for basically a financial cliff, okay?”
“Because now that this season is over, Ant Edwards, rightfully so, after making the All-NBA team, just hit the supermax as a four-year player. Congrats to him. He got a $40 million extra bonus on his contract for making All-NBA. That contract starts July 1st.”
“Karl Towns, made All-NBA two years ago, signed a humongous $250 million contract extension. His key was within his contract, but his new contract begins on July 1st. He’s getting a $13 million raise over what was already a $35 million salary.”
“They have a bunch of other high dollar players on the roster, including Rudy Gobert, who, by the way, is eligible for an extension this summer. They’re going to have to deal with. They just signed Jaden McDaniels to $130 million contract that starts July 1st, guys, and he earned it.”
“We are not in New York City. This team is not owned by someone worth $100 billion, like the LA Clippers. And not only that, the ownership situation is in flux. Mark Lurie and Alex Rodriguez are in a legal battle with Glenn Taylor about who’s gonna own the team going forward.” (3:46)
“Even if it is Glenn Taylor, he has only paid a little bit of luxury tax in the entire time he’s owned the team. He’d have to pay more luxury tax this next season than all of his years owning the Wolves combined, probably double. So when you think about the Wolves, you can’t think about whether this team needs to change. You have to think about whether they can afford to keep this team together.”
Anthony Edwards, following his impressive performance that earned him an All-NBA selection, secured a supermax extension. This recognition bumped his contract from $204.5 million to $245.4 million, adding an extra $40 million starting from July 1st. Edwards’ new deal alone places a heavy financial burden on the franchise.
Edwards ended the regular season averaging 25.9 points, 5.4 rebounds, and 5.1 assists while shooting 46.1% from the field and 35.7% from three-point range. His playoff performance was even more outstanding, with averages of 27.6 points, 7.0 rebounds, and 6.5 assists, shooting 48.1% from the field and 40.0% from beyond the arc.
Karl-Anthony Towns, who previously signed a massive $224 million contract extension, will see his salary increase to nearly $50 million starting next season. Rudy Gobert is another high-cost player on the roster, set to earn $43 million next season and eligible for an extension. Additionally, Jaden McDaniels‘ new $131 million contract begins next season, adding over $22 million to the payroll.
These four players alone will account for approximately $158 million in salary, pushing the Timberwolves well into the second luxury tax apron. The estimated luxury tax for the Wolves is already nearly $50 million, and that’s without their roster being complete yet.
This situation is exacerbated by the ownership turmoil, with Mark Lore and Alex Rodriguez embroiled in a legal dispute with Glenn Taylor over control of the team. This uncertainty further complicates the Wolves’ financial planning and decision-making process.
Historically, Glenn Taylor has been reluctant to pay significant luxury tax penalties, having only paid a minimal amount during his tenure. To keep the current roster intact, Taylor would need to pay more in luxury tax next season than he has cumulatively during his entire ownership, possibly even doubling the total amount.
The Wolves‘ season ended with a loss in Game 5 of the Western Conference Finals to the Dallas Mavericks. As they look towards the future, the challenge lies not just in improving the team but in managing the substantial financial commitments. Keeping this roster together will require navigating through significant luxury tax implications and resolving the ownership dispute, making it a daunting task for the franchise.
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