We forwarded a report that Kevin Love signed an extension yesterday (via Ray Richardson from Pioneer Press). Officially, it is a 4 year deal worth between $60-$62 Million. Many claimed it premature but now it is finally official. The hang up was that Love was requesting a player option after his 3rd year and now has that. This gives Love the flexibility to opt out after his 3rd year and then re-sign for a larger contract after that season. This also gives the Wolves some financial flexibility when the contracts of Rubio and Williams are up for renewal. The downside could be if Minnesota doesn’t continue to improve that Love may opt out and leave much like Lebron James did while in Cleveland. Regardless, it is great news to Timberwolves fans as they can look forward to Love and Rubio on the same team for at least the next 3 years.

Here is a tweet from Kevin Love confirming all the reports