The Minnesota Timberwolves extended Patrick Beverley to a one-year/$13 million contract on Feb. 14. Here’s why this is a win-win for both parties.

The Timberwolves traded for Beverley this offseason, and it’s safe to say they won that deal. By shipping out Juancho Hernangómez and Jarrett Culver, Minnesota essentially got rid of two players who were not in the rotation, for an impact player.

This season Beverley is averaging 9.0 points, 4.9 assists, 4.4 rebounds, 1.1 steals and 0.9 blocks per game. His shooting splits are .406/.340/.722.

Nothing about his season average jumps off the page, but he’s been a massive leader and a culture setter. Without Beverley, this team wouldn’t be three games above .500. They may not even be a top-10 team in the Western Conference.

If you recall, the Timberwolves started the season 3-7 and had a team meeting in which Beverley made every player state their role.

Since starting the season 3-7, the Timberwolves are…
20-16
9th in offense
11th in defense
9th in net rating

After the 10th game of the season (a 6th straight loss), the Wolves had a team meeting where Patrick Beverley made every player on the roster define their role. https://t.co/lNrHbnDxC8 pic.twitter.com/KUWGLd1M1G

— Dane Moore (@DaneMooreNBA) January 24, 2022

That was a turning point for Minnesota this year. After that meeting, they went 7-3 over their next 10 games.

There’s a concern with Beverley moving forward, which is why I’m sure the Timberwolves didn’t want to do a multi-year deal. The veteran point guard will be turning 33 before the 2022-23 season and has had his fair share of injuries.

There’s no guarantee how he will hold up by the time he’s 34 or even 35.

Patrick Beverley came into the extension negotiation process looking for a multi-year deal in the $11 million annual salary range, sources say.

Locking the 33 year-old veteran for just one year appears to have cost a concession on a higher one-year rate.

— Dane Moore (@DaneMooreNBA) February 15, 2022

I would have been OK with a 2-year/$22 million deal, but the one-year extension was the best move for both sides.

This gives the Timberwolves financial flexibility moving forward because this team cannot afford to be locked up with any bad contracts.

Worst case scenario, Minnesota could easily trade his contract next season. With him making $13 million next year, he would be an easy salary filler in any deal.

As for Beverley, this allows him to potentially make more money in the long run. If he plays well, he could make another $13 million. That’s a difference of at least $4 million, and it gives him the flexibility to choose his next location if he so chooses.

There’s little risk in extending Beverley for one more season. He’s been a major reason this Timberwolves team is seventh in the Western Conference and in contention to take the sixth seed. This contract extension also gives him long-term flexibility and the potential to make more money in the long run.

It’s a win-win for both parties.