Football season is in full swing, the MLB playoffs are right around the corner, and basketball is about to get fired up. With the NBA Preseason beginning in October, many teams are finalizing their rosters for the upcoming season. The Minnesota Timberwolves just finalized their roster for the foreseeable future by offering an extension to Karl-Anthony Towns. At this moment, Karl-Anthony Towns net worth sits at $10 million.
At 7′ tall and just 22 years of age, Karl-Anthony Towns was the first overall pick in the 2015 NBA draft by the Timberwolves. Towns has played in and started every single game for the first three seasons of his professional career. The 2016 Rookie of the Year will make just shy of $8 million in salary for the upcoming NBA season.
Through three NBA seasons, Karl-Anthony Towns has totaled nearly $18 million in on the court earnings; however, this number will dramatically increase thanks to a recent contract he signed. Towns just signed a five year $158 million extension with the team that has the potential to be worth $190 million. This most recent contract will definitely skyrocket Karl-Anthony Towns net worth in the years to come.
Towns has definitely proved his worth of such a lucrative contract. The three-year veteran is averaging a double double on his career statistics, over 21 points per game and nearly 12 rebounds per game. In 2018, he earned his first of many All-Star bids.
Karl-Anthony Towns has been a talent since a young age. A consensus five star recruit coming out of high school, Towns decided to take his talents to the Kentucky Wildcats. He only spent one year playing college ball before declaring early for the NBA draft.
Karl-Anthony Towns Net Worth Outlook
A $10 million net worth at the age of 22 is pretty impressive, but what is more impressive is the potential of Karl-Anthony Towns net worth. With the signing of his most recent contract, in approximately six years time, Towns career earnings will near the $200 million mark. Couple his on the court earnings with various endorsement deals, and Towns could have a net worth approaching nine figures before he turns 30!
While NBA contracts are fully guaranteed, Towns next contract could be worth even more. Players in the NBA are now demanding more money than ever, and it will only be a matter of time before you see a player demand $60 million for a season. Will Towns be that individual? Only time will tell.
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James Hendrickson is an internet entrepreneur, blogging junky, hunter and personal finance geek. When he’s not lurking in coffee shops in Portland, Oregon, you’ll find him in the Pacific Northwest’s great outdoors. James has a masters degree in Sociology from the University of Maryland at College Park and a Bachelors degree on Sociology from Earlham College. He loves individual stocks, bonds and precious metals.