Current Contract Status and Salary
Aaron Fox is currently under contract with the Minnesota Timberwolves after being traded from the New Orleans Pelicans in February 2023. His most recent deal is a one-year veteran minimum contract worth approximately $3.3 million for the 2023-24 season, with a player option for the following year via Spotrac. The salary reflects his status as a veteran guard rather than a franchise cornerstone, and the deal includes standard incentives tied to playing time and performance metrics.
The contract structure is designed to provide the Timberwolves with a low-risk, high-upside backup option behind starting guards. Fox's salary does not count against the luxury tax in a significant way, and the team retains flexibility to extend or part ways after the season. The deal also includes a partial guarantee structure that protects the team if he is waived before specific dates.
Career Earnings and Contract Timeline
Since entering the NBA in 2017, Aaron Fox has earned over $50 million in guaranteed salary across multiple teams, including the Sacramento Kings and New Orleans Pelicans per Over the Cap. His largest contract was a five-year, $163 million extension signed with the Kings in 2017, which included $120 million guaranteed at signing. That deal made him one of the highest-paid point guards in the league at the time, despite mixed on-court production.
Fox's contract history shows a clear downward trajectory in annual salary, moving from a max-level deal to veteran minimum contracts within six years. This shift mirrors his declining role as a primary ball-handler and his transition to a specialized backup role focused on transition offense and playmaking depth. The Kings waived him in 2022 before he signed with the Pelicans and later the Timberwolves on short-term deals.
Performance Metrics and Contract Value
On-Court Production vs. Pay
In his final season with the Kings, Fox averaged 17.0 points and 6.2 assists per game while shooting 47.7% from the field, per NBA.com NBA.com stats. His efficiency metrics, including a career-high 3.1 assists per 100 possessions, supported his initial max contract but declined in subsequent seasons. The Pelicans and Timberwolves have used him primarily as a change-of-pace guard in short bursts rather than a starter.
Contract analysts generally view Fox's current deals as market-appropriate for a role player with elite speed but limited defensive impact. His net rating has been negative in recent seasons, which has reduced his leverage in free agency and led to shorter, lower-value contracts. The Timberwolves can leverage his contract as a trade chip or waive him without significant financial penalty if the fit does not work out.