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Towns' new max deal, plus more offseason moves for the Wolves

What's next for the Wolves? Michael Reaves/Getty Images

The Timberwolves took a step in 2017-18 with their first postseason appearance since 2003-04.

The accelerated rebuild that started in June with the trade for Jimmy Butler now enters an offseason of continued expectations -- not just to appear in the playoffs, but advance past the last week of April.

With the Wolves eliminated by the Rockets, let's look ahead to the free-agency, draft and trade decisions facing Minnesota this offseason.

More summer focus: Click here for every team so far


Change the bench narrative

The recent March 1 waiver buyout period could serve as a preview for the Timberwolves this offseason.

Despite Minnesota signing guard Derrick Rose, there was reluctance among agents to send their potential buyout candidates to Minnesota with the uncertainty of playing time. Why send a soon-to-be free agent who gave up money with his pior team to a new city, only to see limited minutes without a defined role?

How this narrative translates into free agency will dictate whether the Timberwolves are a team fighting for the last playoff spot or one entrenched in the top five in the West.

With Andrew Wiggins' $147 million extension set to take effect, Minnesota will be pressed up against the luxury tax. The Wolves will have only $5.4 million of the $8.6 million midlevel exception and the minimum exception to sign six players, with the team needing to add a shooting guard, small forward and power forward. Using the full exception would hard cap the club.

Unlike last year, when the lure of money played a part in signing Jeff Teague and Taj Gibson, the front office will now have to recruit free agents to accept less money and a lesser role.

While you could look to the draft to help fill the void, remember that 2017 first-round selection Justin Patton appeared in one game and spent most of the season in the G League.

If Patton develops along with the Wolves' two draft picks in June, it would stabilize the bench for the future and not put Minnesota in a position to bargain shop each summer.


The structure of a Towns extension

The Wiggins rookie max extension set the bar on what to expect for Karl-Anthony Towns this offseason.

The question now is not if the former top pick receives a five-year, $157 million extension, but if the Timberwolves and Towns' agent Leon Rose negotiate a percentage increase for earning All-NBA or Defensive Player of the Year accolades during the 2018-19 season.

Because Towns is unlikely to reach the criteria at the time of the extension, he and the team could agree upon any percentage between 25 and 30 percent of the salary cap based on whether he satisfies the awards criteria.

For example, Minnesota could set that Towns will earn 30 percent of the salary cap in 2019-20 if he is voted to the All-NBA first team. Reaching the criteria would net Towns an additional $31 million and see his cap hit in the first year increase from $27 million to $32.4 million.

This would be similar to the rookie extension Joel Embiid signed in Philadelphia (also negotiated by Rose).


The future finances

The 2017 offseason not only accelerated the rebuild in Minnesota but also set it up for a costly future.

Despite a projected $120 million payroll next year and facing roster restrictions, Minnesota gets a one-year luxury tax reprieve. That will change starting in 2019.

With Towns extension-eligible this summer and Butler in line for a potential max salary in 2019, the Timberwolves will go from a $105 million roster in 2017-18 to a projected $160 million team (including luxury taxes) in 2019-20.

Here is a three-year breakdown for their core starting in 2019-20:

Will the $55 million increase translate into a team that can compete with the Golden State Warriors and Houston Rockets?

As both contenders can attest, how the rest of the roster is built in free agency, combined with the development of former and future draft picks, has the potential to camouflage the high cost in salaries.


Summer cap breakdown

Time has run out when it comes to the Timberwolves having financial flexibility.

With five players earning more than $14 million next season, the front office will need to keep a close eye on the luxury tax.


Dates to watch

What Jamal Crawford does with his $4.5 million player option could determine whether the Timberwolves are in the luxury tax next season. The 38-year-old has until June 29 to opt out of his contract or return to Minnesota for another season. Crawford would likely see a comparable salary to his player option as a free agent.

It's likely that backup Cole Aldrich will not be on the Timberwolves' roster on July 1.

Signed to a three-year, $21.9 million contract in 2016, Aldrich must be waived by June 30 or his $6.9 million contract for next season will become guaranteed. If waived, Minnesota will incur a $2 million cap hit that can either sit on its books for 2018-19 or be stretched over the next three seasons.

Minnesota also has decisions when it comes to reserves Nemanja Bjelica, Marcus Georges-Hunt and Amile Jefferson.

Despite turning 30 in early May, Bjelica will be a restricted free agent if the Wolves tender him a $4.9 million qualifying offer by June 29. The forward has Bird rights and Minnesota can exceed the salary cap to sign him. The qualifying offer for Georges-Hunt is $1.7 million and Jefferson's is $1.5 million.


Extension-eligible candidates

Entering the last year of his contract (player option in 2019-20), Butler is eligible for a four-year, $109 million extension. The extension is $80 million less than what Butler could sign with the Timberwolves on a max contract as a free agent in 2019 and $30 million less than if he signed with a team with cap space.

Even with his right knee injury this season, expect Butler to play out the final year of his contract.

After a strong season, third-year guard Tyus Jones saw his minutes replaced by Derrick Rose. Now extension-eligible, Jones and Minnesota can explore a new contract or he can become a restricted free agent in 2019.

Because of the Timberwolves' high salaries in 2019, expect talks to be tabled unless Jones agrees to a team-friendly contract.


The draft assets

Despite sending their own first-rounder to Atlanta as part of the Adreian Payne trade in 2015, Minnesota will have Oklahoma City's pick. The pick was acquired from Utah as part of the Ricky Rubio trade last summer.

Minnesota also has its own second-round pick in June.

Here's how ESPN's Jonathan Givony and Mike Schmitz see Minnesota drafting in June:

  • No. 20 (via Thunder): Keita Bates-Diop | PF | Ohio State

  • No. 48 (own): Justin Jackson | SF/PF | Maryland

Minnesota has all its future first-round picks.