Rubio Withdraws Lawsuit With DKV Joventut

Nam HuynhContributor IJuly 17, 2009

NEW YORK - JUNE 25:  NBA Commissioner David Stern poses for a photograph with the fifth overall draft pick by the Minnesota Timberwolves,  Ricky Rubio during the 2009 NBA Draft at the Wamu Theatre at Madison Square Garden June 25, 2009 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Jim McIsaac/Getty Images)

This buyout situation is starting to come together.

Spanish newspaper, La Vanguardia, reports point guard Ricky Rubio and his attorneys withdrew their lawsuit with DKV Joventut (english translation). The lawsuit is based off the money differential between his salary (under $100,000) and buyout (reportedly $6.7 million or more) cost.

We reported last week that DKV Joventut’s board of directors declined a recent buyout offer from Rubio’s team, stating they would not negotiate unless they withdraw their lawsuit for salary arbitration. The rejected offer was reportedly just over $3 million from Rubio’s attorneys.

This latest development means Rubio and his attorneys will be able to negotiate a potential buyout, especially with Timberwolves President David Kahn flying in to assist in lowering Rubio’s buyout. DKV Joventut’s board of directors will want to act quickly, because they surely do not want the lawsuit to re-emerge. The possibility of losing the lawsuit for salary arbitration would mean the team would not gain anything for allowing Rubio to leave.

All signs are pointing to a possible resolution by the end of this summer. Our recent Rubio posts suggests Rubio wants to play in the NBA as soon as possible, and that he has accepted the possibility of playing for the Timberwolves this season.

Nam Huynh writes for Minnesota Sports Zone (http://www.mn-sz.com)