Timberwolves owner Glen Taylor: Jimmy Butler rejected contract extension

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The Timberwolves offered Jimmy Butler the largest-allowed extension this summer. It would’ve paid:

  • 2019-20: $22,436,302
  • 2020-21: $24,231,206
  • 2021-22: $26,026,110
  • 2022-23: $27,821,014
  • Total: $100,514,631 ($25,128,658 average annual salary)

If Butler plays out the season and opts out, he could re-sign for a projected $190 million over five years (about $38 million annually). Even if he opts out to leave, he could get a projected $141 million over four years (about $35 million annually).

Darren Wolfson of 1500 ESPN:

It probably just wasn’t enough money. Butler is worth a max contract when healthy.

He’ll also turn 29 before the upcoming season and has shown significant wear and tear while playing big minutes for Tom Thibodeau in Chicago and Minnesota. I’d be leery of paying Butler big money into his 30s.

But he’s probably correct to bet on at least one team being enamored with him in what should be a looser market next summer. He also might not want to lock into playing with Andrew Wiggins and Karl-Anthony Towns and without Kyrie Irving.