The Minnesota Timberwolves have signed forward Andrew Wiggins to a multiyear contract extension.

The Timberwolves did not announce terms of the deal, but ESPN's Adrian Wojnarowski previously reported that the sides agreed on the maximum five-year, $148 million extension.

"I'm very excited to continue my career with the Timberwolves," Wiggins said in a statement released by the team. "I love it here. The fans and organization have supported me from my first day here in Minnesota. I want to thank Glen Taylor, Tom Thibodeau, the entire coaching staff and my teammates for believing in me. We've had some good times over the last three seasons, but the best is yet to come. I look forward to doing right by them and bringing this team to the postseason."

Wiggins, 22, is one of the Timberwolves' cornerstone players, along with center Karl-Anthony Towns and newly acquired All-Star guard Jimmy Butler. Wiggins averaged 23.5 points a game in 2016-17 and has progressed into one of the NBA's most explosive young wing players.