Minnesota Timberwolves Contracts and Salary Cap 2023-24

NBA: Minnesota Timberwolves at Dallas Mavericks
Jerome Miron-USA TODAY Sports

Interested in learning more about the Minnesota Timberwolves’ contracts and salary cap situation for the 2024 NBA season? You’ve come to the right place. Below are detailed tables showing how much each Wolves player is making during the 2023-24 season, along with how they are set up for future seasons.

Timberwolves general manager Tim Connelly was widely scrutinized for the blockbuster Rudy Gobert trade, but it’s placed Minnesota among the top playoff contenders in the Western Conference.

Related: Minnesota Timberwolves Depth Chart and Injury Report – 2024

Anthony Edwards’ maximum contract does not kick in until next season. But when that happens, he, Karl-Anthony Towns, and Rudy Gobert will make for one of the most expensive top-3 on any NBA roster. But first, let’s take a look at the Minnesota Timberwolves’ current contract situation for 2023-24.

Minnesota Timberwolves Contracts and Salary Cap 2023-24

PlayerAge2023-24 Salary
Rudy Gobert31$41,000,000
Karl-Anthony Towns28$36,016,200
Mike Conley36$24,360,000
Anthony Edwards22$13,534,817
Naz Reid24$12,950,400
*Monte Morris28*$9,800,926
Kyle Anderson30$9,219,512
Nickeil Alexander-Walker25$4,687,500
Jaden McDaniels23$3,901,399
Wendell Moore Jr.22$2,421,720
Jordan McLaughlin27$2,320,000
Leonard Miller20$1,800,000
Josh Minott21$1,719,864
Luka Garza25Two-Way Contract
Jaylen Clark22Two-Way Contract
Daishen Nix21Two-Way Contract
Total Salary$163,732,338
*Acquired via mid-season trade
Contract figures courtesy of Spotrac.com

The NBA salary cap for the 2023-24 season is $136,021,000. As you can see, the Timberwolves are well over that amount. The NBA has what is called a “soft salary cap”, though. So being over by a small amount isn’t a big deal. Minnesota is still $1.6 million below the luxury tax spending limit ($165,294,000) so there’s no real need to clear space this season.

Related: Where the Minnesota Timberwolves Stand in Latest NBA Power Rankings

Future Minnesota Timberwolves Salary Cap Situation

Here’s a preview of how the Minnesota Timberwolves’ 2024-25 salary cap sheet looks before making any roster additions or subtractions. Disclaimer: NBA maximum contracts are determined based on a percentage of their team’s salary cap. Thus, future salaries for those players are estimates based off the projected salary caps for future seasons.

  • * = Player option
  • TO = Team option
PlayerAge2023-242024-252025-262026-272027-282028-292029-30
Rudy Gobert31$41M$43.8M$46.6M*UFA
Karl-Anthony Towns28$36M$49.7M$53.6M$57.6M$61.6M*UFA
Mike Conley36$24.4MUFA
Anthony Edwards22$13.5M$35.5M$38.3M$41.1M$44M$46.8MUFA
Naz Reid24$13M$14M$15M*UFA
Kyle Anderson30$9.2MUFA
Nickeil Alexander-Walker25$4.7M$4.3MUFA
*Monte Morris28*$9.8MUFA
Jaden McDaniels23$3.9M$22.6M$24.3M$26.2M$28M$29.8MUFA
Wendell Moore Jr.22$2.4M$2.5M(TO)$4.5M(TO)RFA
Jordan McLaughlin27$2.3MUFA
Leonard Miller20$1.8M$1.9M$2.2M$2.4M(TO)UFA
Josh Minott21$1.7M$2M$2.1M(TO)UFA
Luka Garza25Two-Way ContractRFA
Jaylen Clark22Two-Way ContractTwo-Way ContractRFA
Daishen Nix21Two-Way ContractRFA
Total Salary$163.7M$175.8$186.4$126.7$132.9$76.3M$0
*Mid-season trade
Future Cap Table via Spotrac.com

Salary cap issues and luxury tax penalties begin to arise for NBA teams teams when they go over the luxury tax threshold, which is expected to increase to $172.5 million in 2024-25. But really, it’s the teams with rosters that exceed the 1st (proj. $179.9 million) and 2nd (proj. $190.8 million) “aprons” that can have owners emptying out their pockets in tax penalties.

Huge 2024-25 luxury tax bills loom

The Minnesota Timberwolves are projected to have $185.4 and $187 million rosters the next two seasons and that’s before they put an actual team around their big three. How much will it cost the Timberwolves to exceed these aprons?

Look at the 2023-24 Phoenix Suns ($187 million payroll). They are projected to exceed both aprons this season for the first time (no repeater penalty) just like the Wolves are next season. The Suns’ projected tax bill when this season comes to an end is $53 million

Related: Minnesota Timberwolves schedule 2024: TV, channel, and more

Congratulations on your purchase of the Minnesota Timberwolves for $1.5 billion, Marc Lore and Alex Rodriguez, here’s a $50+ million luxury tax penalty to get you started…

In the midst of one of the best seasons in franchise history, Tim Connelly will surely ride out the rest of this season with KAT, Ant, and Rudy on roster. That means he and new Wolves ownership will have big money decisions to make when 2023-24 eventually comes to an end.

Karl-Anthony Towns contract

Since becoming the No. 1 overall pick in the 2015 NBA Draft, Towns has developed into the best shooting bigs in the NBA. Aside from a calf strain that limited him to just 29 games during the 2022-23 season, he’s also been quite durable across his nine-year career. A three-time All-Star and two-time member of the All-NBA team, Towns is one of a few cornerstones on the Minnesota Timberwolves.

On a max-level contract, Towns has a four-year, $222 million deal taking effect next season. While some expect a trade in the future, there’s one key detail in KAT’s contract many may not be aware of. Towns has a 10% trade bonus, meaning if he’s traded, his cost to his new team spikes by 10%.

Rudy Gobert contract

After becoming the 27th overall pick in the 2013 NBA Draft, Gobert spent the first nine years of his career with the Utah Jazz. Throughout that time, he developed a reputation for being arguably the best defender in basketball, winning three Defensive Player of the Year awards.

Related: Timberwolves Trade Multiple Players + 2030 Draft Pick for Pistons Guard Monte Morris

A year ago, many would argue that Gobert’s then-$38M salary was too rich for his contributions to the team, but it’s been an entirely different story in his second season in Minnesota. Gobert’s back on track to be in the mix for another DPOY award.

Gobert is guaranteed to be under contract for one more year, but his status for the 2025-26 season likely depends on his production over the next two years. Once the 2025 offseason begins, Gobert has a $46 million player option. If he feels he can get more on the open market, he won’t hesitate to decline the option, but if the then-33-year-old is starting to slip, expect that player option to get picked up.

Anthony Edwards contract

Minnesota Timberwolves contracts and salary cap 2023-24
Credit: Jerome Miron-USA TODAY Sports

The face of the franchise. The Minnesota Timberwolves aren’t letting Edwards go anywhere anytime soon. His max contract kicks in at the start of the 2024-25 season, and like Towns, Ant has a 15% percent trade bonus included in his deal too. No matter what happens with the core around him, the Timberwolves will be building around the No. 1 pick of the 2020 NBA Draft.

Related: Anthony Edwards Among NBA Superstars Featured in ‘Quarterback’ Style Netflix Documentary

Jaden McDaniels contract

As one of two 2020 Timberwolves first-round picks still on the roster, McDaniels has gone from being a raw prospect to one of the best all-around defenders in the league. McDaniels is still growing offensively, but one can see the potential for bigger days ahead for the lanky wing.

A player who teams frequently call about in trade discussions, the Timberwolves have done their best to put those talks to bed by agreeing to a five-year, $131 million contract during the 2023 offseason. McDaniels is well-liked among his teammates, and if he can continue to improve offensively, his average salary of $26 million per season will look like a steal.

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