On Friday, agent Brian Jungreis told Shams Charania of The Athletic and Stadium that Beasley agreed to a four-year, $60 million deal with the Timberwolves. He appeared in 14 games for Minnesota during the 2019-20 campaign.
Jon Krawczynski of The Athletic noted the final year on the contract is a team option.
Beasley entered the league in 2016 when the Denver Nuggets selected him with the No. 19 overall pick out of Florida State. He spent his first three-plus seasons on Denver before it traded him to the Timberwolves during the 2019-20 campaign.
His best overall campaign on the Nuggets came in 2018-19 when he appeared in 81 games and averaged 11.3 points and 2.5 rebounds per game while shooting 40.2 percent from three.
While that was solid, he appeared to turn the corner in Minnesota and posted 20.7 points, 5.1 rebounds and 1.9 assists a night in those 14 games. He also shot 42.6 percent from three-point range, something that would surely play well alongside Karl-Anthony Towns and D'Angelo Russell over the course of this new deal.
Still, it needs to be noted that is an incredibly small sample size for someone who averaged 7.4 points per game during the course of his time with the Nuggets.
Minnesota clearly saw enough and made the 23-year-old an important part of its future as part of a young core that also features Russell, Towns and No. 1 overall pick Anthony Edwards.
Beasley will likely be a secondary scorer with that group, but his three-point shot alone will keep him on the floor if he continues to hit above 40 percent.