Wiggins hasn't signed that extension yet, correct?
If that's the case, the Wolves should pull it and try to trade him. Dead serious. This is the same damn player he was 2 seasons ago.
EDIT: Nm, after digging he signed it.
Still, he's making 7.5 million this year. I'd trade him (as long as its allowed, not sure if there's some rule against trading players who just signed extensions?) while his contract is easily movable for either a useful player back or some draft picks or some combo of both. Not like Butler is a free agent in the summer and neither is Towns. Get out of that deal before you can't. Someone out there will be willing to trade for him, I'm sure. Someone signed Harrison Barnes to a max deal, after all.
Since he signed an extension that is set to kick in next season, his contract is subject to the Poison Pill Provision(PPP)
This means it's nearly impossible to trade him at all. It works like this:
His outgoing salary in a trade is still 7.5 million. So Minnesota is sending out 7.5 million.
But his incoming salary is the average of this years salary and his salary in all the years of his extension. So you average the 1 year of 7.5 million with the 5 years of 30ish million. Some quick and crude math puts Wiggins incoming trade value at around $25.6 million dollars. So the team that Wiggins is traded to receives 25.6 million in salary.
So this obviously makes a deal damn near impossible. Because Minnesota basically either has to trade Wiggins to a team with a ton of cap space, or at the very least find a team with cap space to help facilitate the trade.
Just for example if they tried to trade him to the Cavs: The Cavs would have to send like 22 million dollars out to be able to add Wiggins. But Minnesota who is over the cap can only accept around 9 million dollars in incoming salary. The 13 million difference basically has to be eaten up by cap space. You can maybe play add some players on both sides and using the 20% buffer slightly lower that number. But realistically there's no way of getting it out of the 11-13 million dollar range.
Philly has about 14.5 million. Bulls have about 15.5. Dallas has about 12.5-13. Phoenix around 10.
$13 million in cap space aint free. Would definitely cost a pretty penny on top of an already complicated trade. And none of those teams would trade for Wiggins, pretty confident in that.
So basically...Wiggins is borderline untradeable at the moment. That extension pretty much locked the wolves into their roster. One of the reasons why I think the head coach+team president thing is really stupid(there's a reason it only works for Popovich and even he has empowered R.C. Buford to control the cap/assets/contracts) Honestly it might even cost more to rent that cap space than it would asset-wise to get Wiggins.