Timberwolves working on Andrew Wiggins extension

The Minnesota Timberwolves are working on a Andrew Wiggins contract extension.

Minnesota Timberwolves head coach and president of basketball operations Tom Thibodeau says that the team is working on a contract extension for guard Andrew Wiggins.

Wiggins could be in line for a five-year contract extension worth upwards of $150 million.

"We're working on it right now," Thibodeau said.

If the team signs Wiggins to an extension, the deal would kick in at the start of the 2018 season and could possibly pay Wiggins $30 million a season if he were to made an all-NBA team or named Defensive Player of the Year. 

Wiggins is set to make $7.6 million next season.

The 22-year-old Wiggins has increased his scoring average in each of his three seasons in the NBA, since being the first overall selection in the 2014 NBA draft.

Wiggins averaged 23.6 points, four rebounds and 2.3 assists while playing in all 82 games last season for Minnesota.

The Timberwolves have not made the playoffs since the 2004-05 season.