Walters: Wolves to Offer Love 4 yr, $60m

[Klomp]

Look for the Minnesota Timberwolves to offer Kevin Love a $60 million, four-year contract extension within the next eight days.

Love, 23, who is playing for $4.6 million this season, can become a restricted free agent after the season unless he signs an extension before Jan. 25. If Love opts for free agency, the Wolves would have the right to match any outside offer. Love also can return to Minnesota in 2012-13 for $6.1 million and become an unrestricted free agent after the season.

Wolves President David Kahn isn't commenting on contract talks, and Love says he's unaware of the status of negotiations. The Wolves, though, want to get Love signed by next week.

http://www.twincities.com/sports/ci_19759053

According to KSTP's Darren Wolfson, the 4-year max Wolves can offer is $64.8m.

[B Calrissian]

I'm guessing that 4.8mil difference will be added as a counter offer to Love wanting the 5th year.

[noobcake]

Lol Love didn't get a max deal?

Sent from my SPH-D710 using Tapatalk

[shrink]

Remember -- Charley Walters. This may simply be invented.

[Klomp]

Remember -- Charley Walters. This may simply be invented.

Thats why I put that in the thread title

[Krapinsky]

That's a 4 year max:

$13,603,750 + $14,624,031.2 + $15,720,833.5 + $16,899,896 = ~ $60.84M

It's more than what another team could pay him as a RFA.

[Fire Mchale]

That's a pretty healthy starting point if it's a real offer. My guess is they ultimately add that 5th year at just under max and get a deal done.

[shrink]

Remember -- Charley Walters. This may simply be invented.

Thats why I put that in the thread title

I appreciate that, and Wolves fans know this guy is full of it, but this will surely make RealGM Headlines, and it will draw posters from other forums that will think this 100% true.

It may be true too - but I wanted other readers to view this "news" with the skepticism we have all developed for Charlie Walters reporting.

[Saltine]

I don't know why it wouldn't be true, the only real choice is 4 or 5 years. With 4 years he's free at 28, that's a nice time to get your next big contract, from us or someone else...

[teamwillow]

is he a restricted FA? meaning like, if someone else makes a better offer canw e match it?

[shrink]

is he a restricted FA? meaning like, if someone else makes a better offer canw e match it?

1. We can offer a deal now. Everyone else has to wait until this summer, when he becomes an RFA.

2. As an RFA, we can match any offer he accepts. We can offer more as well, including an extra year, and 7.5% raises instead of 4.5% raises.

3. If he still wants out, he has to play for an additional year at the qualifying offer. After that, he becomes an unrestricted free agent.

The CBA gives a huge advantage to teams to help them keep their draft choices for 7 years. Besides being able to offer more money, bigger raises, and an additional guaranteed year, the CBA gives them a two year head start on other teams. Almost every rookie star extends, because if they don't, they risk a career-ending injury before they get their first big paycheck.

[teamwillow]

ty for that shrink...so glad to hear. Love and Rubio will be such a good combo for years to come!

[Basti]

Since I assume there's little wiggling room left for either side I think there's a high chance Love takes it. Or bolts completely but let's pretend this won't happen.

[Breakdown777]

is he a restricted FA? meaning like, if someone else makes a better offer canw e match it?

1. We can offer a deal now. Everyone else has to wait until this summer, when he becomes an RFA.

2. As an RFA, we can match any offer he accepts. We can offer more as well, including an extra year, and 7.5% raises instead of 4.5% raises.

3. If he still wants out, he has to play for an additional year at the qualifying offer. After that, he becomes an unrestricted free agent.

The CBA gives a huge advantage to teams to help them keep their draft choices for 7 years. Besides being able to offer more money, bigger raises, and an additional guaranteed year, the CBA gives them a two year head start on other teams. Almost every rookie star extends, because if they don't, they risk a career-ending injury before they get their first big paycheck.

Shrink, you should make this post your sig. You have to type basically the same thing in every single contract thread.

[shrink]

LOL! Yes, but at least teamwillow was asking a legitimate question.

Usually I'm writing it down after some fan says, "Well, you better accept my horrible trade because Love is going to leave anyway!"

[younggunsmn]

It bothers me what crappy reporters we have that they can't even get the max contract # right.
Zgoda just took the cap * 25% to come up with his 14.5 mil starting salary figure. The formula is more complex than that as other things are taken into account in the formula (benefits are deducted 1st for one). Lazy reporting. Woolfson is basically a rube, but lazy-assed zgoda can't even get an agent or front-office/league source to give him the correct # for the max.

The exact # hasn't been confirmed, but it was confirmed when the CBA was signed that the starting level of max contracts was frozen at or near 2010-11 levels.

I'm going with exactly 2010-11 levels when I calculate this as what we can offer:
13,603,750 14,624,031 15,644,313 16,664,594 17,684,875 78,221,563 5yrs
13,603,750 14,624,031 15,644,313 16,664,594 60,536,688 4yrs

(BTW Krap, if you are running off my first set of post-lockout numbers, I had to change them because I had raises compounded, which was incorrect).

What does give credence to Walters' little birdie is that 4/60 is basically correct.
But if Kevin demands a 5th year you probably give him a 5th year. I think either he gets a 5th year or he gets an opt-out after the 3rd year. I'd be more scared of the opt-out at this point.

Ricky may qualify for the Rose max by the time he hits free agency with the way he's started his career.

[kmgarnett21]

I just hope they get something done soon. Then I can not even worry about it. Unlike some others here, I'm really concerned that Love may not want to stay. He's in a better position now than KG ever was as far as teammates and coaching staff. I really hope they come to an agreement soon. He deserves a huge contract. I've appreciated the way he's handled it when reporters ask him questions about it.

I want to hear "Rubio dishes to Love for three" about for about 938 more times over the next few seasons.

[Krapinsky]

13,603,750 14,624,031 15,644,313 16,664,594 60,536,688 4yrs

(BTW Krap, if you are running off my first set of post-lockout numbers, I had to change them because I had raises compounded, which was incorrect).

I see that Coon says not to compound. But I'm confused then on Rose's contract. For example, If you use Coon's 2010-2011 starting max number for Rose and compound the interest, you get exactly what was reported for Rose's max extensions, $94.8M/5.

As for Love, now I've been told that the correct projected starting salary for Love's contract is actually, $13,668,750.

[rennytwentyone]

Report: Minnesota will offer Love four years, $60 million
Kurt Helin
Jan 18, 2012, 10:18 AM EST
Leave a comment
AP
Minnesota may be about to screw up a good thing.

They are an entertaining and up-and-coming team, one with a future behind Kevin Love, Ricky Rubio, Derrick Williams and more. But that comes with a price. The first of those is Love, who is eligible for a contract extension between now and Jan. 25. He can get up to four years, $80 million (which is the max for him) but there comes this report out of the Pioneer Press.

Look for the Timberwolves to offer Kevin Love a $60 million, four-year contract extension within the next eight days.
That is considerably less than the max and may not be well received in the Love camp.

If Love doesn’t take the offer he becomes a restricted free agent next summer, which means other teams can make an offer but the Timberwolves have the right to match it. And they would, which likely limits the offers Love would get.

But here’s the risk: Love could just accept the one year qualifying offer the Wolves have to put on the table — $6.1 million for next season — then after that he could leave as a restricted free agent.

Nobody is talking. Not the Timberwolves, not Love who brushed this off as something his agent is dealing with in a recent radio interview.

So far, the only guy out of the 2004 draft to get an extension was Derrick Rose, who got a $94 million, four year offer under the new “Derrick Rose rule” (he won the MVP so he qualifies to make more than Love). While Love fell to pick No. 5 he has proven to be the second best player out of this class.

And he is the anchor of a revival we are starting to see in Minnesota. One way to screw that up is to go cheap and drive players away. Love deserves a max or near max offer — he is a double-double machine, a big who can rebound and shoot from the outside, a good fit and the face of the team’s marketing efforts. He’s the one guy worth the money you pay him in terms of production and putting butts in the seats.

Pay the man, or you risk ruining what has finally been built there.

[Krapinsky]

Report: Minnesota will offer Love four years, $60 million
Kurt Helin
Jan 18, 2012, 10:18 AM EST
Leave a comment
AP
Minnesota may be about to screw up a good thing.

They are an entertaining and up-and-coming team, one with a future behind Kevin Love, Ricky Rubio, Derrick Williams and more. But that comes with a price. The first of those is Love, who is eligible for a contract extension between now and Jan. 25. He can get up to four years, $80 million (which is the max for him) but there comes this report out of the Pioneer Press.

Look for the Timberwolves to offer Kevin Love a $60 million, four-year contract extension within the next eight days.
That is considerably less than the max and may not be well received in the Love camp.

If Love doesn’t take the offer he becomes a restricted free agent next summer, which means other teams can make an offer but the Timberwolves have the right to match it. And they would, which likely limits the offers Love would get.

But here’s the risk: Love could just accept the one year qualifying offer the Wolves have to put on the table — $6.1 million for next season — then after that he could leave as a restricted free agent.

Nobody is talking. Not the Timberwolves, not Love who brushed this off as something his agent is dealing with in a recent radio interview.

So far, the only guy out of the 2004 draft to get an extension was Derrick Rose, who got a $94 million, four year offer under the new “Derrick Rose rule” (he won the MVP so he qualifies to make more than Love). While Love fell to pick No. 5 he has proven to be the second best player out of this class.

And he is the anchor of a revival we are starting to see in Minnesota. One way to screw that up is to go cheap and drive players away. Love deserves a max or near max offer — he is a double-double machine, a big who can rebound and shoot from the outside, a good fit and the face of the team’s marketing efforts. He’s the one guy worth the money you pay him in terms of production and putting butts in the seats.

Pay the man, or you risk ruining what has finally been built there.

Wow that guy is lazy or dumb.