For much of the last several days, there has been much chatter surrounding the Minnesota Timberwolves inking forward Andrew Wiggins to a lucrative contract extension.

According to Sid Hartman of the Minnesota Tribune, team owner Glen Taylor has revealed that he plans on signing Wiggins in the near future to a max deal of five years for $150 million:

While Taylor can’t talk about other teams’ players — such as trade rumors about the Wolves’ possible interest in Cavaliers point guard Kyrie Irving — he can talk about his own. He made it clear he is going to sign guard/forward Andrew Wiggins in the near future to a five-year, $150 million contract, the highest deal any team could give him. And Wiggins is not available to anybody in a trade.

Last week, Taylor had stated that he was quite confident that the Timberwolves would be able to work out a new deal with the 22-year-old as some point this offseason. He is currently set to enter the final year of his rookie deal worth $7.5 million that also possesses a $9.8 million qualifying offer to make him a restricted free agent next offseason.

Through his first three years in the league, Wiggins has become one of the rising stars in the league and key pieces to the puzzle for the Timberwolves' nucleus alongside big man Karl-Anthony Towns. He is coming off his best individual season where he averaged a career-high 23.6 points per game.

On top of the ongoing extension discussions, Wiggins has been prominently mentioned in potential trade talks for Cleveland Cavaliers All-Star point guard Kyrie Irving. However, the Cavaliers reportedly desire more than just Wiggins in a deal for Irving.

For the time being, the Timberwolves look to be near a deal to lock up one of their core players to a long-term deal.