With the eleventh hour approaching, the Minnesota Timberwolves may or may not have landed an extension with their star big man Kevin Love. According to Ray Richardson of the Pioneer Press, an agreement is in place. Love becomes a unrestricted free agent this summer if a deal is not reached and in writing by Wednesday at midnight eastern time.
Richardson's report says the supposed deal is worth $62 million for four years, which would mean the T-Wolves did not make Love their "designated player" and give him the maximum $78 million over five years.
Now, for what it's worth, less than an hour after Richardson's post went up, Kevin Love tweeted, "if you read it on the internet it must be true right?" making it pretty implicitly clear that Richardson's report is erroneous. Marc Stein tweeted shortly thereafter that the two sides have not agreed to anything and talks are still "ongoing." A google search renders a result from ESPN with the headline, "Report: Kevin Love, Wolves agree," but when you click on it, the headline changes to, "Sources: Kevin Love, Wolves talking."
Therefore, I think it's probably safe to assume that nothing is final yet, but things appear to be getting closer, close enough for Minnesota beat writers to jump the gun. Stay tuned for more updates.