Kevin Love: Star Power Forward Engaged in Contract Talks as Rumors Swirl

There's a report out from Ray Richardson of the St. Paul Pioneer Press that the Minnesota Timberwolves and star forward Kevin Love have agreed to terms on a four-year extension:

However, ESPN's Marc Stein has heard otherwise:

Moreover, Love himself indicated on Twitter that no deal is final:

Love and the Timberwolves have until Wednesday night to secure an extension, or Love will become a restricted free agent at the end of the season.

What Does It Mean?

If the Timberwolves sign Love for four years and $62 million, they'll practically be getting away with murder.

Per Pro Basketball Talk, Love could get a max contract worth $80 million over five years. Reports have been coming out for a couple weeks now that the Wolves are trying to get him signed for four years and around $60 million, and the consensus among the NBA punditry has been that the Wolves are trying to lowball Love.

If Love does end up signing a four-year deal, he will effectively indicate that he is comfortable sticking around in Minnesota for a few more years, even if he is sticking around at a discounted price.

Love should be willing to stick around in Minnesota. The Wolves are still a sub-par team, but their future is bright. Love is one of the best players in the league, and the Wolves have two exciting rookies in point guard Ricky Rubio and forward Derrick Williams.

If the Wolves extend Love, they will be playoff contenders a year or two down the road. Count on it.

What Happens Next?

First and foremost, the Wolves need to move quickly to seal the deal. Plain and simple.

If the Wolves extend Love, they'll have him, Rubio, Williams and others under wraps for the next couple seasons. All they would need to do is develop into a good team and start winning consistently.

Assuming they sign Love, it will happen. The Wolves can afford to use this season to work out the kinks, but they simply have too many good young pieces to remain mediocre for long. You can think of them as the next Oklahoma City Thunder.

But if the Wolves can't extend Love, their future will be slightly more hazy.