National Basketball Association

Anthony Edwards, Timberwolves reportedly agree to five-year, $260 million extension

Published Jul. 3, 2023 12:50 p.m. ET

Anthony Edwards, the No. 1 overall pick in the 2020 NBA Draft, has agreed to a five-year, $260 designated rookie contract extension, according to ESPN.

Edwards, 21, is coming fresh off of a breakout season with the Timberwolves, averaging 24.6 points, 5.8 rebounds, 4.4 assists and 1.6 steals per game in 79 games. Edwards was named as an All-Star injury replacement in February and played for Team LeBron. Minnesota has had an All-Star in each of the last two games, with three-time All-Star Karl-Anthony Towns playing in 2022.

Edwards' designated rookie contract extension is the second of its kind this offseason. Charlotte Hornets guard LaMelo Ball, who went second overall in 2020, and Indiana Pacers guard Tyrese Haliburton, who went 12th, both agreed to the same extensions over the weekend.

The Timberwolves ended the 2022-23 campaign with a 42-40 record, good enough for the No. 8 seed in the Western Conference. They've made the playoffs twice since Edwards was drafted, but they haven't won a playoff series since 2004.