Ryan Gomes officially signed his contract today and then he and Kevin McHale announced the agreement in a news conference at Farview Community Center, where Gomes last winter donated a heart defibrillator with his Hoops for Heart Health Foundation.

Here’s the deal on the deal: Officially, it’s for five years, although the Wolves have options after the second and third years and Gomes has the option after the fourth year. So the first two years are guaranteed, at $3.5 million next season and $3.8 million in 2009-2010. His salary jumps above $4 million after that if the team exercises its option. If Gomes remains a Timberwolf for all five seasons, the contract will approach $22 million.

If the Wolves want to clear more cap room for the 2010 free agent class, they could decide not to pick up Gomes’ option that summer and he’d become an unrestricted free agent.

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