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Love expected to sign extension with Wolves Wednesday

Minnesota Timberwolves forward Kevin Love is expected to sign a four-year, $62 million contract extension today, the Pioneer Press reported Tuesday night, although an ESPN.com report claimed talks were “ongoing” and no agreement had been reached.

Meanwhile, Love took to Twitter on Tuesday night, not citing any specific report when he posted on @kevinlove: “If you read it on the Internet it must be true right? #sarcasm.”

The Pioneer Press, citing a person with knowledge of the situation, said Love is expected to sign the deal while in Dallas, where the Timberwolves will play the Mavericks tonight. NBA teams have until 11 p.m. CST today to sign contract extensions with 2008 draft picks, or the players can become restricted free agents after the season.

Love, 23, is earning $4.6 million this season and is slated to make $6.1 million next season.

ESPN.com ‘s Marc Stein on Tuesday, citing two sources close to the process, reported that Love won’t decide on whether to take the Wolves’ offer until today.