The Minnesota Timberwolves have exercised the third-year team options on Anthony Edwards' and Jaden McDaniels' rookie-scale contracts, per Shams Charania of The Athletic and Stadium. 

Both players were selected by the team in the 2020 NBA draft, with Edwards going No. 1 overall. The deadline for teams to exercise rookie options is Nov. 1. 

Edwards, 20, had an excellent rookie season, averaging 19.3 points, 4.7 rebounds, 2.9 assists and 1.1 steals per game, shooting 41.7 percent from the field and 32.9 percent from three. He was a finalist for Rookie of the Year, won by Charlotte's LaMelo Ball. 

Edwards is a key part of Minnesota's foundation for the foreseeable future, joining Karl Anthony-Towns and D'Angelo Russell as core pieces. The Wolves picking up his third-year option was a foregone conclusion.