Timberwolves Offseason Tracker: Latest Trade Rumors, Free-Agency News

The Minnesota Timberwolves had to put their playoff hopes on hold during an injury-riddled 2012-13 campaign.

Both Ricky Rubio and Kevin Love began the year on the injured list and were joined shortly thereafter by nearly everyone on the roster. A popular sleeper pick in the deep Western Conference, the Timberwolves limped to an unsightly 31-51 by season's end.

Excuses aside, last season goes down as another lost campaign in the battle to help Love find the success he so badly craves. The All-Star forward has the ability to opt out of his current contract after the 2014-15 season, so time is of the essence for the Timberwolves to turn their franchise around.

Having a healthy inside-out combo of Love and Rubio eases that task, but Minnesota still needs to address several key areas this offseason. The Timberwolves have already strengthened their perimeter attack, but they're still in dire need of a defensive stopper on the wing and must decide just how much they're willing to spend to keep Nikola Pekovic around.

Read on to find out all of the latest news from an active, important offseason for Minnesota.

Timberwolves Trade for Corey Brewer

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UPDATE: Wednesday, July 10, at 5:15 p.m. ET by Dan Favale

Yahoo! Sports' Marc Spears reports that a deal landing Corey Brewer in Minnesota is done.

He reiterates that the contract Brewer agreed to is for three-years and $15 million.

---End of update---

UPDATE: Wednesday, July 10, at 5:03 p.m. ET by Dan Favale

Plans in Minnesota have changed, according to ESPN's Marc Stein.

He reports that the latest scenario has Luke Ridnour going to the Bucks, the Timberwolves signing-and-trading for Kevin Martin from the Thunder and then signing Corey Brewer outright. 

Stein writes that the Bucks are prepared to take on Ridnour, as Minnesota needs to unload his contract to create cap space.

So to recap, it seems both Martin and Brewer are on course to join the Timberwolves.

---End of update---

UPDATE: Wednesday, July 10, at 1:45 p.m. ET by Adam Fromal

It turns out that a trade might not be necessary in order to acquire Corey Brewer. 

According to ESPN's Marc Stein, the Minnesota Timberwolves and the talented small forward are "closing in" on a deal that would be worth $15 million over the course of three years. It's a solid contract, one that falls right in line with Brewer's value. 

His defense will be a nice way to balance out Kevin Martin's lack of stopping abilities. 

--End of update--

UPDATE: Wednesday, July 10, at 8:54 a.m. ET by Dan Favale

The Star Tribune's Jerry Zgoda reports that a resolution to the Corey Brewer trade talks with end soon.

He says that the Timberwolves will either reach an agreement, or be outbid by another team. Brewer is thought to be looking for a contract in the four-year, $19 million range.

ESPN's Marc Stein previously reported that Minnesota was looking to deal Luke Ridnour to create enough room, or help facilitate a sign-and-trade with Denver.

---End of update---

Jerry Zgoda of the Star Tribune reports that the Timberwolves are interested in free-agent swingman Corey Brewer.

He says that Minnesota is currently looking into sign-and-trade opportunities with the Nuggets.

Buying or Selling?

Brewer would be the perfect replacement for one Andrei Kirilenko.

While he can be an inconsistent offensive weapon, he's one of the best perimeter defenders in the game. He's also one of the better outside shot contesters.

Toss in his strong transition game on the other end of the floor, and he gives Ricky Rubio another athletic talent to push the ball with.

If he's able to be had, Minnesota should bring their former No. 7 draft pick back.

Andrei Kirilenko on His Way Out?

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UPDATE: Thursday, July 11, at 6:55 p.m. ET by Zach Buckley

Andrei Kirilenko has been officially removed from the Minnesota Timberwolves' plans.

According to Peter Vecsey, formerly of the New York Post, Kirilenko has a agreed to a deal with the Brooklyn Nets for the mini mid-level exception worth $3.1 million. Vecsey later clarified that nothing had been signed yet, but an agreement had been reached between the two parties. Sports Illustrated's Chris Mannix confirmed the agreement.

Kirilenko left $10 million on the table when he decided to opt out of the final year of his contract with Minnesota.

--End of update--

UPDATE: Wednesday, July 10, at 8:45 a.m. ET by Dan Favale

The Spurs attempted to complete a sign-and-trade with the Timberwolves for free-agent forward Andrei Kirilenko to no avail, according to Yahoo! Sports' Adrian Wojnarowski.

Minnesota isn't believed to be willing to assume the financial commitments necessary to allow Kirilenko to sign a deal worth upwards of $8 or $9 million annually with the Spurs.

---End of update---

UPDATE: Tuesday, July 9, at 12:36 p.m. ET by Dan Favale

Yahoo! Sports Adrian Wojnarowski says that the Cavaliers have begun to engage in talks with Andrei Kirilenko and Elton Brand about signing one-year deals.

Signing both Kirilenko and Brand would be Cleveland's contingency plan should it miss out on Andrew Bynum.

Though it seems odd Kirilenko would be willing to sign a one-year contract, it appears more and more likely that his run in Minny is over with each passing rumor.

---End of update---

Darren Wolfson of 1500ESPN.com reports that the Timberwolves will likely renounce their rights to Andrei Kirilenko.

The San Antonio Spurs have targeted Kirilenko as a potential addition, via ESPN's Marc Stein.

Jerry Zgoda of the Star Tribune had previously reported that Kirilenko turned down a guaranteed $10.2 million contract for next season for the chance to become an unrestricted free agent. He's reportedly seeking a "three- or four-year" deal.

Buying or Selling?

This one is an unfortunate buy, if only because the Timberwolves can't afford to bring him back.

It seems hypocritical that a team in need of a perimeter stopper would let the lanky Russian slip out of its grasp. But having interest in re-signing Kirilenko won't change the fact that the Timberwolves are running out of funds to make his return feasible.

The Timberwolves already struck a deal with Chase Budinger, who should slide into Kirilenko's vacated starting spot. Budinger won't help Minnesota's defensive situation, but the Timberwolves will likely be forced to settle for a cheaper, less established option than Kirilenko to fill that void.

Minnesota's playoff picture is murky at best, so if the 32-year-old is going to take less than market value, expect him to do so with a roster better suited to win now.

Nikola Pekovic Wants to Return to Minnesota

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UPDATE: Friday, July 19, at 11:00 a.m. ET by Adam Fromal

As reported by the Star Tribune's Jerry Zgoda, Nikola Pekovic's camp and the Minnesota Timberwolves and Nikola Pekovic are hoping to figure everything out and end this never-ending contract-extension process at some point next week. 

The sides remain confident that a deal will be made, but they just have to manage to come to terms. There are many reasons for the delay, and here's a big one: 

"

The Wolves theoretically could offer Pek a five-year deal to give him extra security, but it doesn't sound like the concept has been discussed, probably for a couple reasons: Pek is prone to nagging injuries so the Wolves likely wouldn't want to commit an extra year, but this is also interesting: Schwartz, as I mentioned, also reps Love, who still is bitter about not getting the five-year "designated player" contract offer two winters ago.

How would Schwartz explain to Love that he couldn't get him a five-year deal while getting Pekovic one? 

Tricky position for him to be in.

"

Still, don't expect to see the big man leave Minnesota. 

UPDATE: Wednesday, July 10, at 2:05 p.m. ET by Adam Fromal

Yahoo! Sports' Adrian Wojnarowski reports that the Minnesota Timberwolves and Nikola Pekovic are "getting closer" on a contract extension worth $50 million over the course of four years. 

This shouldn't be much of a surprise, as there haven't been any indications that Pek wants to leave or that the Wolves intend on letting him do so. 

--End of update--

UPDATE: Tuesday, July 9, at 8:50 a.m. ET by Dan Favale

According to Jerry Zgoda of the Star Tribune, the Timberwolves have made a formal contract offer to Pekovic. They reportedly expect an answer soon.

Sam Amico of Fox Sports says that the Cavaliers were interested in the big man, but Pek has made it clear he wants to stay in Minny.

---End of update---

Marcus R. Fuller of the St. Paul Pioneer Press adds that the Timberwolves have made re-signing their restricted free agent the "top priority this offseason."

The Portland Trail Blazers are reportedly interested in Pekovic, per John Canzano of The Oregonian.

Buying or Selling?

While Minnesota fans had no choice but to watch Howard's free-agent drama unfold, a different move this offseason should have piqued the Timberwolves' interest.

The San Antonio Spurs made the first move on the big-man market, locking up restricted free agent Tiago Splitter on a four-year, $36 million deal.

Considering Pekovic held sizable advantages over Splitter in both scoring (16.3 to 10.3) and rebounding (8.8 to 6.4) last season, the Timberwolves should be scattering couch cushions on the floor searching for every penny they have to throw at Pekovic.

Love does a lot of things well (scoring, shooting, rebounding), but defense isn't one of his strong suits. The 6'11", 290-pound Pekovic is the ideal bruiser to share the floor with Love.

Minnesota knows this and will do everything in its power to keep Pek around. The contract might end up going higher than the Timberwolves would like, but they should get a solid return on that investment.

Kevin Martin Gets 4-Year Deal

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USA Today's Sam Amick reports that the Timberwolves have agreed to a four-year, $30 million contract with Oklahoma City Thunder guard Kevin Martin.

Oklahoma City's desire to stay out of the luxury tax made his return unlikely, and Martin said the Timberwolves were his "first option outside OKC."

Buying or Selling?

The Timberwolves needed to find a scorer and were forced to pay a premium to do so. The 30-year-old scored a more lucrative deal than J.J. Redick (four years, $27 million) and one well ahead of the contract that J.R. Smith looks set to sign (four years, $24 million) with the New York Knicks.

Unlike Redick and Smith, though, Martin has served in a leading role before. He's also played in two separate stints under Minnesota coach Rick Adelman, first with the Sacramento Kings and later as a member of the Houston Rockets.

Martin picked a good year to the hit market as he buried a career-best 42.6 percent of his three-point attempts last season. Minnesota shot a league-worst 30.5 percent from deep as a team, so adding a sniper like Martin ranked near the top of the Timberwolves' offseason checklist.

Playing with a pass-first point guard like Rubio should ease Martin's descent down the offensive pecking order.

Chase Budinger Signs on for 3 More Years

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USA Today's Sam Amick reports that Chase Budinger has re-signed with Minnesota for a three-year, $16 million contract.

Buying or Selling?

This one looks like a done deal, so buying is the only option here.

Budinger's debut season in Minnesota was stunted by a meniscus tear that cost him all but 23 games. When he was healthy enough to play, though, he looked exactly like the player Minnesota thought it was getting as he matched his career scoring average of 9.4 points per game.

His three-point shooting stroke has fluctuated throughout his four-year career. He's shot above 36 percent twice but has fluttered below 33 percent in his other two seasons.

A former decorated volleyball star, Budinger's more than just a floor spacer. He has tremendous springs, can finish plays above the rim and moves well without the basketball.

The 25-year-old isn't a defensive liability, but his instincts and athleticism leave room for even more improvement on that end. A starting role should go a long way toward helping him maximize his talents.

Timberwolves Reserves Being Shopped?

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Darren Wolfson of 1500ESPN.com reports that the Timberwolves are "open" to moving J.J. Barea, Luke Ridnour or Derrick Williams this summer. Wolfson notes that Flip Saunders tried unsuccessfully to flip Williams for a more favorable position on draft night.

Saunders reportedly denied shopping Williams, per Sid Hartman of the Star Tribune.

Jerry Zgoda of the Star Tribune confirms the availability of both Barea and Ridnour and adds that third-year center Chris Johnson could be included in a trade.

Buying or Selling?

Buying heavily on all four names being dangled.

Between Kevin Martin's arrival, Ricky Rubio's clean bill of health and a summer of seasoning for sophomore Alexey Shved, the Timberwolves can afford to test the market on Barea or Ridnour. Shved's comfortable enough handling the rock, so both Barea and Ridnour could be expendable.

Williams has been surrounded by trade rumors since Minnesota grabbed him with the No. 2 pick of the 2011 draft. He still doesn't have a natural position (well, that or it happens to be Kevin Love's natural spot), and while he's shown signs of improvement, the Timberwolves might be getting impatient with Love's clock ticking.

Johnson has floated between the NBA and the D-League during his three seasons as a pro, so if he can serve as filler in a larger trade, he's replaceable.