The Minnesota Timberwolves announced Sunday they have exercised contract options on Karl-Anthony Towns and Tyus Jones. Towns and Jones were both selected by the Timberwolves in the 2016 NBA Draft and are entering their third seasons in Minnesota. Towns was the No. 1 overall pick and the Timberwolves traded back into the first round to get Jones. The contract option keeps them both with the Timberwolves through the 2018-19 season.