Minneapolis Wally Szczerbiak agreed to a six-year, $63 million contract extension with the Timberwolves that could keep him in Minnesota through the 2008-09 season.
Coming off a career season in which he made the All-Star team, Szczerbiak's deal was agreed upon just before the 11 p.m. CST deadline for extending the contracts of 1999 first-round picks.
A team source, who spoke to the Associated Press on condition of anonymity, said the extension was worth $63 million.
"I can't say enough how excited I am and how thankful I am," Szczerbiak said before Minnesota's home game against the Orlando Magic.
Last week, Wolves owner Glen Taylor told reporters he didn't think the deal would get done in time.
But Wolves vice president Kevin McHale said Szczerbiak and his agent, Gary Wichard, "made a significant move to try to get closer to us."
Szczerbiak averaged 18.7 points and 4.8 rebounds last year.