Report: Wolves, Wiggins nearing 5-year, $148M extension

One of the NBA's most drawn-out contract extension processes may finally be reaching its conclusion.

Andrew Wiggins and the Minnesota Timberwolves are progressing toward a long-awaited five-year, $148-million extension, sources told The Vertical's Shams Charania. The news comes on the heels of previous reports that the deal should get done before Friday.

The contract has effectively been on the table for a month, but Wiggins dismissed his agent Bill Duffy after he negotiated the details. Under collective bargaining agreement rules, that required Wiggins wait two weeks after changing agents to sign the contract.

The Timberwolves host their media day Friday in the Twin Cities before heading to San Diego for training camp.