Minnesota Timberwolves guard Jimmy Butler reportedly turned down a four-year extension worth approximately $110 million, according to multiple outlets.
Timberwolves owner Glen Taylor acknowledged Butler rejecting the offer during a local ESPN radio interview.
"We offered him the extension, and they've met and come back to us and said they're really appreciative of it, they appreciate that we got to them right away and all that, but they declined it," Taylor said of the extension, per ESPN's Nick Friedell.
"They said, 'You guys have done everything and we're very appreciative, but our bet is that we should wait 'til next year and we could get ourselves a better deal.' ... We did everything we could, and they want to do what they think is right for Jimmy."
If Butler stays healthy and has another productive season, there's a chance he'll make more dollars signing a new contract in 2019, when the NBA's salary cap is expected to rise. Butler can enter the free agent market next summer by opting out of the final year of the $90 million deal he signed with Chicago in 2015.
The four-time All-Star averaged 22.2 points, 4.9 assists and 5.3 rebounds per game, while shooting a career-high 47 percent in 59 games for the Timberwolves last season.