The Minnesota Timberwolves and guard Ricky Rubio agreed to a four-year contract extension on the eve of the deadline. The deal appears to be a compromise between the purported max deal Rubio sought and what Minnesota initially wanted to offer.
Timberwolves president and coach Flip Saunders signified Rubio is the franchise's point guard of the future by locking him up to a four-year extension before Friday's extension deadline for players still on a rookie-scale contract.
"With three hours to go before the midnight deadline Friday, Ricky Rubio and the Minnesota Timberwolves have agreed to terms on a contract extension, according to his agent," ESPN's Marc Stein wrote Friday. "Sources close to the talks told ESPN.com that Rubio has secured a four-year extension worth nearly $56 million that will kick in starting with the 2015-16 season."
One of Rubio's agents told the Associated Press: "We have reached an agreement, and we are finalizing the paperwork now."
Minnesota and Rubio had until 11:59 p.m. ET to reach an agreement, or Rubio would have become a restricted free agent in July.
Rubio originally sought a maximum extension, something Minnesota always appeared unwilling to give. With Rubio's purported insistence on getting a max deal, some thought it was the point guard's way of trying to force his way out of Minnesota. The fact Rubio chose to lower his asking price - his deal is equivalent to what Phoenix Suns guard Eric Bledsoe will make each season, albeit a year less - shows he wants to stay in Minnesota, where he'll now be joined by rookie Andrew Wiggins.
Rubio averaged 11.5 points, 7.5 assists and 6.5 rebounds per game last season in his third year as a pro.
