The Minnesota Timberwolves are in the midst of a critical offseason after flaming out in the Western Conference Finals for the second consecutive season, and they took a big step toward contending again on Friday. Just a few days before free agency, the Timberwolves and standout big man Naz Reid agreed to a new five-year, $125 million contract according to ESPN's Shams Charania.

Reid's new deal has a player option for the final year in 2029-30.

After the season came to an end, Reid declined his player option for about $15 million and was set to hit free agency, where he would have had plenty of suitors. However, he and Minnesota are now set to stick together on a lucrative new deal for the 2023-24 Sixth Man of the Year.

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Reid has ben vital to this Minnesota squad over the last few seasons and the team and fanbase will both be thrilled to have him back. His versatility and ability to play center in small lineups or play next to another big man has unlocked plenty of combinations for Chris Finch and his staff over the last few seasons.

Despite never being a consistent starter in Minnesota, Reid has been able to fill up the stat sheet during the last two years. During his award-winning 2023-24 season, he averaged 13.5 points and 5.2 rebounds per game, but it was his shooting that really helped him take the leap as a player. During that season, the LSU product shot an astounding 41.4% from 3-point range on five attempts per game.

Reid's efficiency dipped just a little bit in 2024-25, but his overall production went up with more usage after Karl-Anthony Towns was traded away. For the season, he averaged 14.2 points and six rebounds per game while shooting nearly 38% from 3 on increased volume.

Red will be just 26 years old when next season starts, so this is a good investment for the Timberwolves and keeps one of their best players around for the long haul. The priority for Minnesota is clearly building a sustained winner around Anthony Edwards, and this move goes a long way toward doing that.