Famous reporter Shams reported that Reed renewed his contract with the Timberwolves for $125 million in five years.

Shams also revealed that several teams were willing to provide the same salary and promise a main position, but Reed finally chose to stay in the Timberwolves.

This season, 25-year-old Reed played 80 games for the Timberwolves, averaging 14.2 points, 6 rebounds and 2.3 assists per game, shooting 46.2% from the field and 37.9% from three-pointers. Reed's average score per game this season has reached a career high.