The Minnesota Timberwolves have agreed to terms on a new contract with restricted free agent center Nikola Pekovic in a deal that will last for the next five-years, worth around $60 million and a potential increase of $8 million in incentive-related bonuses.

Wolves president Flip Saunders made the announcement of the deal via Twitter.

"Retaining Pek was our No. 1 priority this offseason, and we're very excited that he's chosen to continue his career in Minnesota," Saunders said. "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 frontcourts in the NBA for a long time to come."

According to ESPN, Pekovic posted career highs last season by averaging 16.3 points and 8.8 rebounds in 62 games in his third NBA season.

The deal was clinched, sources say, when Minnesota offered a fifth year. Initial indications are that neither side possesses an option in the new contract, making it a straight-up deal for the next five seasons for the 27-year-old.

In addition to his low-post moves and underrated agility, Pekovic is valued by the Wolves for his work in pick-and-roll coverages defensively against the offensive sets that are so prevalent all over the league.

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