According to multiple sources: the Wolves & Love are having 'ongoing' talks tonight (Tues.). And it sounds as though--for some reason--the Wolves have decided to play hardball, leaving Love with just two options.
1.) Accepting a four year deal worth an estimated $62 million, even though they have the option to sign him to the max: 5-years $80million (more than anyone). The Timberwolves gave Al Jefferson the same contract offer extension (4yrs. $60million) which he accepted--despite his agent's objections. Jefferson's agent is actually the same as Love's: Jeff Schwartz. Love is definitely a better player--I think we'd all agree he's worth more! However, the Wolves know the most he can get in free agency is 4-years and roughly $58million, which I guess they believe gives them the power here.
2.) Love's second option is to not agree to any extension and become a restricted free agent this summer. Any offer he gets from another team can be matched by the Timberwolves. There are plenty of teams out there that have already expressed interest in Mr. Love. For one, the Boston Celtics are prepared to offer him a max contract this offseason.
3.) There is actually a third option. Kevin Love can decline an extension--right now, accept the Timberwolves' $6million qualifying offer which we keep him here for the 2012-13 season and he'd become an unrestricted free agent in the summer of 2013. Allowing him to sign with any team without restriction from Minnesota.
Speculation has swirled these past few hours--in fact at one point it got out that Love had accepted that four-year deal. Multiple sources had stories posted on that fact, however it was refuted by Love himself via Twitter: "If you read it on the internet, it must be true, right? #sarcasm".
If I was the Timberwolves? Sign Love to a max deal. If the Wolves are worried they won't be able to offer Rubio or Williams a max deal when they become free agents, that's just dumb. I guarantee that if the Wolves lose Kevin Love sometime in the next couple years, Ricky Rubio won't be far behind! They're buddies and Rubio will bolt in four years when his contract is up.
Like any other Timberwolves fan, I'm praying the Timberwolves don't botch this and lock him up before it's too late--just 25 hours from now. We'll have an update before then, hopefully it's good news!
That's all for now, thanks for reading HOWL and GO WOLVES!