Terrence Shannon Jr. stepped onto the NBA stage with the Minnesota Timberwolves amid growing expectations. His rookie contract reflects the team’s belief in his potential, setting the tone for his early years in the league.
The details of his deal reveal a multi-year commitment, with salaries designed to grow as he develops his game. Team options in later years keep the door open for a longer tenure, depending on his performance.
As he navigates his first seasons, both the player and the franchise face pivotal decisions. His journey so far hints at promising talent, but the future contract choices will shape his role in the popular team’s plans.
What is Terrence Shannon Jr.’s salary with Minnesota Timberwolves?
Terrence Shannon Jr. joined the Minnesota Timberwolves on a rookie-scale contract valued at around $13.08 million over four years, with approximately $5.22 million guaranteed, according to Spotrac and On3.
This type of deal is standard for a late first-round pick like him, who was selected 27th overall in the 2024 NBA Draft, and places his average annual earnings at about $3.27 million.
Terrence Shannon Jr. #00 of the Minnesota Timberwolves looks on against the New Orleans Pelicans in the second half of a 2024 NBA Summer League game on July 12, 2024. (Source: Candice Ward/Getty Images)
For the 2024–25 season, his salary sits at $2.54 million, a figure that will climb to $2.67 million in his second year. The final two years of his deal, worth $2.8 million and $5.05 million respectively, are structured as team options.
This progressive salary model gives him both financial security early in his career and a clear incentive to continue proving his value on the court. It also provides the Timberwolves flexibility to evaluate his growth without committing to a long-term cap hit too soon, a balance often sought in rookie contracts.
Terrence Shannon Jr.’s contract: How long will he stay in the team?
Terrence Shannon Jr. signed his first NBA contract on July 8, 2024, locking him in with Minnesota through at least the 2025–26 season. The final two years of the agreement, which run through the 2027–28 season, are team options.
This structure means that while he could remain with the Timberwolves for four full seasons, the franchise has the right to decide whether to retain him for those later years based on his development and performance.
If the team exercises both options, he would stay under team control until 2028, at which point he would become a restricted free agent, allowing Minnesota to match any offers from other teams. This arrangement is typical for late first-round picks, giving the organization time to assess his role in their long-term plans.
