The Minnesota Timberwolves have reached an agreement in principle on a contract with center Nikola Pekovic.
Terms of the agreement were not disclosed by the team, but the Star-Tribune reported that it's a five-year, $60 million contract that includes as much as $8 million more in bonus incentives.
Pekovic, a restricted free agent, set single-season career-highs with averages of 16.3 points and 8.8 rebounds in 62 games with the Timberwolves last season.
The 6-foot-11 center also finished 20th in the league in field goal accuracy at 52.0 percent and made 74.4 percent of his free throw attempts.
"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. "Thanks to a lot of hard work and determination, Pek has developed into one of the NBA's premier centers and is entering the prime of his career. We envision Pek and Kevin Love being the 'Bruise Brothers' and forming one of the best front courts in the NBA for a long time to come."
Over three seasons with Minnesota, Pekovic has career averages of 11.6 points and 6.2 rebounds per contest. He was selected with the 31st overall pick in the 2008 NBA Draft.