From the Wolves:
The Minnesota Timberwolves today announced the team has reached an agreement in principle on a contract with restricted free-agent center Nikola Pekovic. Per team policy, terms of the agreement were not disclosed. ‘Retaining Pek was our No. 1 priority this offseason and we’re very excited that he’s chosen to continue his career in Minnesota,’ said Wolves President of Basketball Operations Flip Saunders.
The deal was clinched, sources say, when Minnesota offered a fifth year. Initial indications are that neither side possesses an option in the new contract, making it a straight-up deal for the next five seasons for the 27-year-old.