I don't even think it should matter if he signs an extension, though I would push hard for him to at least opt in for next year like chris paul.
Something like this, while not equal value, isn't pennies on the dollar and would be a highly competitive offer.
Minnesota - Dwight, Hedo, and (Harper and Liggins who would be cut anyway)
Orlando - Pekovic, Williams, Beasley, Webster, Ridnour
Some minor changes could be implemented like swap Beasley for Johnson and Randolph (dollars work that way) which might be more appealing to Orlando, but either way gives Orlando some very recent high picks, a solid center prospect, and an influx of talent all on reasonable contracts.
Minnesota then trots out a rotation with Dwight, Love, Rubio, Johnson, Barea, Hedo, Randolph, Tolliver, Ellington, and Darko and would probably instantly be one of the favorites in the West.