Lakers general manager Rob Pelinka used to represent Muhammad and could offer his former client the team's $4.3 million room exception.
The Minnesota Timberwolves previously extended Muhammad a qualifying offer to make him a restricted free agent, but the team pulled it shortly after the start of free agency.
However, Minnesota has reportedly maintained interest in re-signing Muhammad after free-agent signee Jamal Crawford tried to recruit him to the Northwest Division contenders with a post on Twitter:
"He's one of the players we are talking to," head coach Tom Thibodeau told KFXN 100.3 on Monday, per the Pioneer Press' Jace Frederick. "Bazz has a great relationship with a number of players on the team. I know they would like to have him back. He's got to make a decision shortly."
Muhammad, 24, averaged 9.9 points and 2.8 rebounds in 19.4 minutes per game last season while shooting 48.2 percent from the field and 33.8 percent from three.