Report: Minnesota closing in on $148-million extension for Wiggins

Andrew Wiggins is reportedly close to signing a $148-million extension. (Matt York/AP)

The Minnesota Timberwolves are reportedly close to inking one of their most promising, young stars to a hefty new deal. The club is nearing a five-year, $148-million extension for 22-year-old Andrew Wiggins, according to The Vertical’s Shams Charania.

While the potential extension has been rumoured for a fair while, sources reportedly told The Vertical that the team is hopeful Wiggins will sign the deal soon.

Wiggins, born in Toronto, Ont., was the first overall pick in the 2014 NBA draft, making him just the second Canadian prospect to earn that top-ranked distinction. Originally selected by the Cleveland Cavaliers, he was traded to Minnesota prior to his rookie season, wherein he earned 2015 Rookie of the Year honours.

Last season, Wiggins set career highs in points (23.6 PPG) and assists (2.3 APG) for the Timberwolves.