Kevin Garnett Signs Contract Extension

Deal Expected To Average More Than $21M Per
MINNEAPOLIS -- All-Star forward Kevin Garnett signed a five-year contract extension with the Minnesota Timberwolves on Wednesday, satisfied that several offseason acquisitions have given him a better chance for his first playoff success.

"I'm excited for the fans. I'm excited for the city. I'm EXCITED!" Garnett said at a news conference at Target Center, where the Wolves begin the regular season Oct. 29.

That's because Latrell Sprewell, Sam Cassell and Michael Olowokandi, among others, are here. A flurry of summer activity appears to have enhanced Minnesota's roster more than any other club in the ultra-competitive Western Conference.

Only Garnett, Wally Szczerbiak, Troy Hudson and reserve Gary Trent are back from last year's team that was knocked out of the postseason in the first round for the seventh straight time. Garnett will make an NBA-high $28 million this season, the final installment of the record six-year, $126 million deal he signed in Oct. 1, 1997, exactly six years ago.

Owner Glen Taylor's bottom line will take a significant hit this year with a payroll over $70 million, one of the league's highest. It's well above the league's expected luxury-tax threshold of $57 million, and Taylor will be charged next summer for the amount his payroll exceeds that figure.

"In a day when sometimes people question your commitment ... that was a commitment,'' coach Flip Saunders said.