The Minnesota Timberwolves have pulled off a rare feat at this season’s NBA trade deadline: they’ve boosted their championship odds and slashed their luxury-tax bill, all while welcoming back a familiar face. Veteran point guard Mike Conley, after a whirlwind series of trades and a brief stint as a free agent, is set to return to Minnesota, bringing his trademark leadership and experience to a squad that’s suddenly looking like a real contender in the Western Conference.
It’s been a wild week for Timberwolves fans. Just days before the trade deadline hit on February 6, 2026, the franchise shipped Conley to the Chicago Bulls, a move that instantly cleared $11 million off the books for the 2025-26 season and allowed the Wolves to duck under the first luxury tax apron. But that wasn’t the end of the road for Conley. Chicago quickly flipped him to the Charlotte Hornets, who then bought him out, making the 38-year-old an unrestricted free agent. Barely 48 hours after his initial trade, Conley was plotting his return to Minnesota—a testament to the unpredictable nature of NBA roster maneuvering.
According to ESPN’s Shams Charania, "Free agent guard Mike Conley Jr. plans to return to the Minnesota Timberwolves. The sides are working on timing of him re-signing. Conley was traded twice this week—to Chicago, then to Charlotte—before being released and allowed to rejoin the Wolves." That’s a whirlwind even by NBA standards!
Conley’s return will come on a prorated veteran minimum deal, a significant pay cut from his previous $10.7 million contract. The financial implications are huge: by offloading Conley’s contract and then re-signing him for less, the Timberwolves have reduced their projected luxury-tax bill from roughly $24 million to about $3.8 million, according to Sports Illustrated. That’s a dramatic change for a team that’s not only saving money but is also climbing the NBA’s power rankings.
On the court, Conley’s role will look a bit different this time around. The Timberwolves acquired Ayo Dosunmu from the Chicago Bulls in a multi-player deal, and the 2021 second-round pick is in the midst of a breakout season. Dosunmu is averaging 15.0 points, 3.0 rebounds, and 3.6 assists per game while shooting efficiently from both the field and beyond the arc. His arrival gives Minnesota a dynamic backcourt presence and adds depth to a roster that’s already proven it can hang with the best in the West.
Conley, meanwhile, has seen his playing time and production dip in his fourth season with Minnesota. He’s averaging just 4.4 points, 2.9 assists, and 1.8 rebounds in a career-low 18.5 minutes per game across 44 contests this year. Still, his value to the team goes beyond the box score. Veteran savvy, locker room leadership, and the ability to step in during high-pressure playoff moments—those are the qualities that have kept Conley in demand, even as his on-court role shrinks. As Dane Moore noted, "Conley’s rest of season contract will be pro-rated based on the number of days left in the season. The longer he waits to comeback, the lesser the cap hit." That strategic move could allow the Timberwolves to further maximize their financial flexibility as they eye the postseason.
With the NBA All-Star Game scheduled for February 15, 2026, the Timberwolves have just four games remaining before the break, facing the New Orleans Pelicans, Los Angeles Clippers, Atlanta Hawks, and Portland Trail Blazers. The team currently sits at 32-20, good for sixth in the Western Conference—a solid position as they look to make a deep playoff run. There’s also one open roster spot remaining, giving Minnesota the option to add another piece from the buyout market if the right opportunity arises.
All this roster maneuvering has had a tangible impact on Minnesota’s championship outlook. After the trade deadline, the Timberwolves’ odds to win the 2026 NBA Finals jumped to +1200 at DraftKings, making them the fourth-best title odds in the league behind only the Oklahoma City Thunder, Denver Nuggets, and Cleveland Cavaliers. That’s a notable leap for a team that started the week further down the board. The message from the front office is clear: this is a team built to win now, not just in some distant future.
Yet, as the dust settles on the deadline, there’s another storyline that’s been buzzing around the league: the Giannis Antetokounmpo sweepstakes. Rumors swirled that the Timberwolves were among the teams aggressively pursuing the Milwaukee Bucks superstar before the deadline, with some insiders suggesting the front office was ecstatic about the prospect of pairing Giannis with Anthony Edwards. But Timberwolves president Tim Connelly quickly poured cold water on that speculation. "I didn’t know that was a thing," Connelly said with a laugh, speaking to NBA media. "I’m not going to comment on any players but our job always is to get better. We don’t ever want to be static, the last two years have been very successful but it’s ended with 4-1 losses in the Western Conference finals."
Connelly’s focus remains squarely on the Timberwolves’ own development and pursuit of a title. He did, however, leave the door open for future moves: "So how do we continue to mature as a team? How do we keep pushing the envelope. So anytime there’s an elite player without mentioning names we’re going to do our due diligence." For now, Giannis remains in Milwaukee, but the Timberwolves’ message is clear—they’re not content to sit back and wait for a superstar to fall into their lap. They’re aggressively building a championship-caliber roster through smart trades, financial savvy, and player development.
It’s worth noting that Minnesota has already proven it can beat elite teams in the West like the Thunder and Nuggets, even if the past two seasons have ended in disappointing 4-1 exits in the Western Conference Finals. Those setbacks have only toughened this group, making them hungrier for a breakthrough.
As the All-Star break approaches, Timberwolves fans have plenty to be excited about. The team is deeper, more versatile, and financially healthier than it’s been in years. Mike Conley’s return may not make headlines for his scoring, but his presence could be the steadying force Minnesota needs as it chases its first NBA championship. The front office has shown it’s willing to make bold moves, and with one roster spot still open, the Wolves aren’t done tinkering just yet. The road to the Finals is long, but for Minnesota, the journey is looking more promising than ever.