Anthony Edwards made his 1st All-Star team in 2022-23.

The Minnesota Timberwolves are keeping their young star swingman in the fold.

The Timberwolves and All-Star Anthony Edwards agreed to a five-year contract extension that could reach $260 million.

THE FUTURE'S BRIGHT pic.twitter.com/GEQplb6d56

— Minnesota Timberwolves (@Timberwolves) July 9, 2023

Edwards, one of the most explosive finishers in the NBA and a first-time All-Star in 2022-23, averaged 24.6 points, 5.8 rebounds and 4.4 assists last season. He was particularly solid in the playoffs for Minnesota in its first-round series against the eventual champion Denver Nuggets.

In that series, he averaged 31.6 ppg, 5.0 rpg, 5.2 apg and 1.8 spg as the Wolves lost the series in five games.

His scoring, rebound, assist, steal and shooting numbers have increased each season and, last season, only nine players averaged as many points, rebounds and assists per game as Edwards. Of the nine, he was the youngest at 21. Add the steals per game to that list, and Edwards became the youngest player to have those averages in each of those categories since LeBron James in 2005-06.

With Edwards agreeing to this deal, he joins All-Star big man Karl-Anthony Towns and former All-Star Rudy Gobert as key pieces on the Wolves who are signed for the foreseeable future.

In bringing back Edwards, Minnesota also secures another part of its young talent base. Earlier in the summer, big man Naz Reid signed a three-year deal worth up to $42 million.

After going undrafted in 2019, Reid signed with the Timberwolves on a two-way contract that offseason. Since then, Reid has emerged as a key backup option in Minnesota behind Towns and Gobert.

Defensive-minded forward Jaden McDaniels — whom the Wolves drafted No. 28 in 2020, the same class as Edwards — could also sign an extension with the team. He has a team option for the 2023-24 season and the one after that.

Information from The Associated Press was used in this report.