Nikola Pekovic, Wolves agree to five-year, $60 million deal

The Timberwolves concluded a summer of spending by reaching agreement Wednesday with restricted free-agent center Nikola Pekovic on a five-year, $60 million contract, one that includes as much as $8 million more in performance-based incentive clauses, according to a person with knowledge of the deal.

Six weeks after negotiations formally started and six weeks before training camp begins, the Wolves re-signed a player whom new President of Basketball Operations Flip Saunders has maintained all along was his top summertime priority.

Pekovic, too, all last season said he wanted to return to the Wolves, who selected him in the second round of the 2008 draft.

Wednesday morning, the two sides finally came together to keep the 27-year-old Pekovic with the Wolves through 2018, barring a trade of course. There are no player or team options in the contract.

Reported by Jerry Zgoda of the Minneapolis Star Tribune