Minnesota Timberwolves center Naz Reid is staying put with a massive new deal – a five-year, $125 million contract, sources told ESPN’s Shams Charania on Friday.
The deal includes a player option for the 2029-30 season, according to Reid’s agents, Sean Kennedy and Jeff Schwartz of Excel Sports. Like all NBA deals, it can’t be officially signed until July 6.
Reid turned down a $15 million player option for next season, choosing loyalty to Minnesota over potentially more lucrative starting roles elsewhere.
The 25-year-old big man was coming off a career year that earned him the Sixth Man of the Year award.
“Just in: Minnesota Timberwolves’ Naz Reid intends to sign a new five-year, $125 million contract to stay with the franchise, including a player option, sources tell ESPN. Critical agreement between the Wolves and Reid’s agents, Sean Kennedy and Jeff Schwartz of Excel Sports,” Charania tweeted.
Reid’s decision is somewhat surprising given his other options. He could have signed a shorter four-year, $87.2 million extension starting June 27, with a first-year salary of $19 million.
He also could have opted in for next season and then signed a four-year, $94.2 million extension that would have kicked in for 2026-27.
Instead, he’s committed long-term to Minnesota, where he’s become a fan favorite and key piece of the team’s success.
Reid put up career-best numbers this past season, averaging 14.2 points, 6.0 rebounds, and 2.3 assists in 80 games. He started 17 of those games but has thrived in his role coming off the bench.
He was just as solid in the playoffs, averaging 10.4 points and 4.7 rebounds while shooting a career-best 50.9% from the field.
No bench player scored more points than Reid in both the 2024 and 2025 playoffs.
The Wolves’ financial picture gets complicated with this deal. They already have over $110 million committed to stars Anthony Edwards, Jaden McDaniels, and Rudy Gobert for the 2026-27 season.
Reid’s new contract likely means someone else is on the way out.
Julius Randle and Nickeil Alexander-Walker could become the odd men out. Keeping all three would push Minnesota’s payroll over $250 million and into the dreaded second apron of the luxury tax.
Randle has a player option worth nearly $31 million for next season. He has until June 29 to decide whether to opt in.
The Wolves face the same deadline to exercise team options on Josh Minott ($2.2 million) and Luka Garza ($2.3 million).
With Reid and Randle’s player options plus Detroit’s first-round pick, the Timberwolves currently sit $11 million below the second apron threshold.
If Randle does opt in, he could sign an extension for up to four years and $194 million. The first year of that extension would pay him $43 million in 2025-26 – about $13 million more than his current player option.
Timberwolves coach Chris Finch recently expressed optimism about keeping both Reid and Randle.
“Absolutely, yes,” Finch told KFAN’s Paul Allen last week. “I think both players want to be there. That’s first and foremost the most important thing. We certainly want them there.”
“I know [Wolves president of basketball operations] Tim Connelly is working hard to make sure that they get some sort of deal done that makes them happy and want to stay, and feel gratitude that the team is taking care of them.”
The 2025 NBA free agency period officially begins June 30 at 6 p.m. ET.
