The Minnesota Timberwolves are keeping former NBA Sixth Man of the Year Naz Reid with a five-year, $125 million contract extension with a player option, according to ESPN’s Shams Charania.

Reid declined his $15 million player option for next season, as expected, and “chose to stay with Minnesota despite a vibrant market developing of teams interested in similar money but with starting roles,” per Charania.

Reid signed with the Timberwolves in 2019 after he went undrafted out of LSU and is the team’s longest-tenured player. His breakout season came in 2023-24, when he won the sixth man award after averaging 13.5 points and 5.2 rebounds while shooting 41.4 percent from 3-point range. Reid followed that by averaging a career-high 14.2 points, 6 rebounds and 2.3 assists this past season.

Reid, who turns 26 in August, will remain as a key piece of Minnesota’s long-term core, along with Anthony Edwards and Jaden McDaniels. Reid likely remains in a reserve role next season but could wind up in a starting role at some point over the life of the contract.

In 17 games as a starter last season, Reid averaged 18.3 points and 9 rebounds.

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. pic.twitter.com/FF9MjGvwb9

— Shams Charania (@ShamsCharania) June 28, 2025