League: NBA Sport: Basketball Country: United States Category: Contracts

Jaden McDaniels, Timberwolves finalize one-year contract extension worth $40 million

3 sources • 1 min read • Latest: Oct 20, 2026, 2:11 AM

Last updated Oct 20, 2026

Jaden McDaniels, Timberwolves finalize one-year contract extension worth $40 million

Summary

Jaden McDaniels and the Minnesota Timberwolves have reached an agreement on a one-year, $40 million extension. This contract will extend McDaniels' tenure with the team through the 2029-30 season. He is currently in the third year of a five-year, $131 million deal. The extension will increase his salary by $13.8 million during the final year compared to the average annual value of his existing agreement. Details regarding the signing were reported by ESPN’s Shams Charania.

Source Links

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What We Know

•McDaniels agrees to a one-year extension worth $40 million.
•The contract extends his deal through the 2029-30 season.
•He is currently in the third year of a five-year, $131 million contract.
•The extension increases his salary for 2029-30 significantly.

Latest Updates

3:02 AMESPN NBA — Timberwolves agree to 1-year, $40M extension with McDaniels
1:44 AMYahoo Sports — Jaden McDaniels, Timberwolves reportedly agree to $40M extension
1:40 AMYahoo Sports — Wolves, Jaden McDaniels agree to one-year extension

What they're saying

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The Timberwolves and forward Jaden McDaniels agreed to a one-year, $40 million extension that will keep him under contract through 2029-30.
— ESPN NBAby Jamal Collier