Minnesota Timberwolves forward Andrew Wiggins has agreed to a five-year, $148 million extension with the team, according to Tim Bontemps of The Washington Post.

With this signing, the Timberwolves will have a whopping $123 million in team salary tied on only five players for the 2019-20 season, according to ESPN Insider Bobby Marks.

The lanky phenom had been working intently trying to get a deal done through the offseason, previously expected to get done before the start of training camp.

Andrew Wiggins
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Team owner Glen Taylor was hopeful a deal between both parties would get done prior to the start of the regular season, securing one of the team's cornerstones ahead of its transition to a star-studded lineup, thanks to the Timberwolves' aggressive offseason acquisitions.

“I’m pleased that we’ve reached an agreement with Andrew on a contract extension,” said Timberwolves owner Glen Taylor in a press release. “Andrew is one of the best young players in the NBA and he has the talent and work ethic to get even better and be a foundation for our franchise for many years.”

Wiggins has made major improvements through every season of his three-year career in Minnesota, going from winning the Rookie of the Year award in 2015 to improving his scoring average every year, averaging 23.6 points and four rebounds per game last season.

The 22-year-old had played all but one game in his three years in the Twin Cities, recently becoming a more reliable perimeter scoring option, shooting 35.6 percent from beyond the arc.

“I’m very excited to continue my career with the Timberwolves,” said Wiggins. “I love it here. The fans and organization have supported me from my first day here in Minnesota. I want to thank Glen Taylor, Tom Thibodeau, the entire coaching staff and my teammates for believing in me. We’ve had some good times over the last three seasons, but the best is yet to come. I look forward to doing right by them and bringing this team to the postseason.”

Wiggins had cut ties with his former agent Bill Duffy, despite him reportedly having an extension on the table for the max amount.

The fourth-year slasher will likely slide up to the shooting guard position with Jimmy Butler handling the duties at small forward as the more physical presence on the court.