After months of negotiations, the Minnesota Timberwolves and forward Jaden McDaniels have finally come to an agreement on a contact extension ahead of the start of the 2023-24 season.

According to The Athletic's Shams Charania, McDaniels and the T-Wolves have agreed to a five-year, $136 million extension that keeps him in Minnesota through the 2028-29 NBA season.

Committed to winning at the highest level possible, the Timberwolves are now set to be a luxury tax paying team due to Anthony Edwards, Karl-Anthony Towns, and Rudy Gobert all owning max-level contracts. Following this extension, Minnesota is now on the books for over $745 million in salaries for McDaniels, Edwards, Towns, and Gobert.

McDaniels, 23, has rapidly become one of the better all-around defenders in the NBA and came up just short of making one of the two All-Defensive teams during the 2022-23 season. Possessing the length and athleticism combo that he does, the former first-round pick has become a core member of the Timberwolves' roster out on the wing.

Featured in 79 of Minnesota's 82 games last season, McDaniels averaged 12.1 points and 3.9 rebounds per game while shooting a career-best 39.8 percent from three-point range. It's also worth mentioning that McDaniels was the only played in the league to record at least 75 blocks and 70 steals last season.

Tasked with guarding the likes of Luka Doncic, Kawhi Leonard, Kevin Durant and other stars around the NBA on a nightly basis, McDaniels was a big reason why the Timberwolves ended up ranking 10th in the league in defensive rating.

From guards to forward to even some centers, McDaniels has been the anchor of Minnesota's defense, which is why the team wanted to reach an agreement on a new contract before the start of the 2023-24 season. Now, they have their young star locked up long-term alongside Edwards, who was also given a five-year, $260 million extension this offseason.

After finishing with a 42-40 record and losing in the first-round of the playoffs to the Denver Nuggets, the Timberwolves enter the new year looking to capture their first playoff series victory since 2004.