Following weeks of building anticipation, the Minnesota Timberwolves on Wednesday morning finally agreed to terms on a five-year, $146.5 million extension with forward Andrew Wiggins.

According to Shams Charania of The Vertical, the new contract does not possess any player options in any of the years of the deal.

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This would put the Timberwolves locked in with Wiggins for the next five seasons without any outs in the deal with him making more than $25 million beginning this upcoming campaign. It would keep the 22-year-old under contract throughout what should several more highly productive years.

Wiggins had been set to enter the final year of his rookie deal that was worth $7.5 million and included a $9.8 million qualifying offer that would have made him a restricted free agent next offseason. He is coming off his best individual year where he averaged a career-high 23.6 points per game.

Although there are some concerns about his play on the defensive end of the floor, Wiggins has developed into a dependable scorer that could be a huge piece in turning the Timberwolves into a powerhouse in the Western Conference.

With Wiggins locked into a long-term deal, the likely next step will be to work out a new extension with rising star center Karl-Anthony Towns, who is widely regarded as one of the best big men in the league after just two seasons. Towns is entering the third year of his deal that includes a club option for the 2017-18 campaign and a $10.1 million qualifying offer for the season after that.