Ricky Rubio is prepared to accept a four-year, $58 million deal from the Minnesota Timberwolves if he receives the offer.
The Wolves have offered a four-year, $52 million deal and could possibly go as high as $54 million.
Rubio would become a restricted free agent in the 2015 offseason if an extension cannot be reached.
According to Adrian Wojnarowski on early Friday evening, Rubio and the Wolves were making progress on a deal. "There's optimism, but no deal," wrote Wojnarowski.