The Wolves today finally reached agreement with restricted free agent center Nikola Pekovic on a new contract.

It is according to a source with knowledge of the negotiations a five-year $60 million contract that also includes as much as $8 million more in bonus incentives.

The Wolves got Pekovic at their price -- no more than $12 million a year -- but gave a fifth guaranteed year to get the deal done.

Flip Saunders insisted on breaking the news on his own Twitter account not long ago.

Pek is expected to be here Friday for a news conference officially announcing the deal.

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