Shams Charania of The Athletic reported the Wolves will also receive Jerryd Bayless.
Lowe weighed the benefits and possible pitfalls of the trade:
Zach Lowe @ZachLowe_NBA
Kawhi and PG-13 are much cleaner fits with the Sixers than Jimmy is, but neither appears to have been available to Philly at this price or (in PG's case) in free agency last summer. You either wait another year for a better fit, or pay this price for Jimmy. Interesting choices.
The Sixers can get ahead of any questions regarding Butler's future this summer, and Butler would have the kind of commitment he sought from the Timberwolves.
The Athletic's Jon Krawczynski reported in September that Butler had hoped to receive an agreement on a max extension with Minnesota, "one that would have raised his salary for 2018-19 to $30 million and added another four years and $145 million on to that."
The Timberwolves offered a four-year, $110 million deal, which was the most they could tender at the time.
Butler's situation in Philadelphia would be similar to that of Chris Paul. Paul opted in to the final year of his contract to facilitate his trade to the Houston Rockets ahead of the 2017-18 season and then signed a four-year, $159.7 million extension this offseason.
Wojnarowski noted the Sixers will not be able to finalize a new deal with Butler during the season and posited Butler could leave in free agency, though things would probably have to go sideways for that to happen.
Adrian Wojnarowski @wojespn
Sixers and Butler aren't allowed to enter into a negotiation or a agree on an extension yet, but barring physical issues or Butler failing to fit into the Embiid-Simmons dynamic both sides are optimistic on a long-term future. Sixers would be paying a steep price for a rental. https://t.co/eJv11Ynfsc
Even if Butler doesn't mesh with Ben Simmons and Joel Embiid, Philadelphia would surely be opposed to losing Butler after having already sacrificed roster depth by sending Covington and Saric to Minnesota. If Butler departs, the Sixers would be in a worse position than before the trade.
Of course, re-signing Butler would carry risks as well. He struggled with the Timberwolves duo of Karl-Anthony Towns and Andrew Wiggins, and he's joining another team built on a pair of young stars.
As good as Butler is, Simmons and Embiid are the Sixers' foundation, and the team can't jeopardize their long-term development by sticking with Butler if the formula isn't working.
This move has the potential to bring an NBA title to Philadelphia, or it could undo years of preparation to get the franchise to this point.