KAT just received a truly historic bag. Let’s dive into the details of the Timberwolves’ groundbreaking Karl-Anthony Towns contract.
The Minnesota Timberwolves just won two postseason games in a single season for the first time since 2004. An intense six-game series against the Memphis Grizzlies saw the Wolves get their first playoff action of any kind in five years, and while they ultimately fell short, superstar big man Karl-Anthony Towns graciously thanked the home fans for their support throughout the season knowing that the team was finally starting to build something real.
On the heels of that momentum, the Wolves have already made two massive moves so far in the offseason. The team sent a hefty load of draft picks to the Utah Jazz in a trade to acquire Jazz All-Star center Rudy Gobert, but just days before, they tacked onto the end of Towns’ active rookie extension a four-year Designated Veteran Player Extension (“supermax”) worth $224 million.
That means KAT, still just 26 years old, gets a maxed-out third contract with a salary number amounting to a full 35% of the NBA salary cap, a rare distinction only available to a truly elite group of the league’s highest-achieving players.
With that in mind, let’s dive into the details of this groundbreaking Karl-Anthony Towns contract.
Karl-Anthony Towns Contract Details & Salary
All dollar figures via Spotrac.
Years: 4 (begins 2024-25)
Total value: $224,224,000
Average annual value: $56,056,000
Free agency: 2028
Remaining salary under current deal:
2022-23: $33,833,400
2023-24: $36,016,200
Annual supermax salary earnings:
2024-25: $50,050,000
2025-26: $54,054,000
2026-27: $58,058,000
2027-28: $62,062,000
Towns’ deal is identical to that of Phoenix’s Devin Booker, who likewise qualified for supermax money this summer by making one of this year’s All-NBA teams. KAT and Book now join fellow summertime supermax signee Nikola Jokic as the first NBA players to get themselves in line for a $60 million single-season payday, a milestone never before reached in the league.
And for Towns, it additionally means over $400 million in estimated on-court earnings before he even turns 33 years old.
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Karl-Anthony Towns’ Career Earnings
TOTAL NBA SALARY EARNINGS THRU 2022: $114,123,435
ESTIMATED SALARY EARNINGS THRU 2028: $408,197,035
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