Report: Timberwolves reach buyout agreement with Anthony Bennett
The Minnesota Timberwolves have reached an agreement on a contract buyout with former No. 1 overall pick Anthony Bennett, according to Shams Charania of Yahoo Sports.
Bennett reportedly sought the buyout in order to gain some control over the next stage of his development. A potential buyout was first reported Monday, despite owner Glen Taylor downplaying the idea of a Bennett trade as recently as last week.
Once the buyout is finalized, the Wolves will place Bennett on waivers. Should he clear, Minnesota will be on the hook for whatever guaranteed amount the sides agreed on, almost surely reducing their obligation from the $5.8 million he's owed for 2015-16. In this case, reports suggest Bennett may have been willing to sacrifice some of his salary in order to dictate his own future.
Related: What would be the best landing spot for Anthony Bennett?
There remains a chance a team claims Bennett over the next 48 hours, absorbing his entire salary, along with a $7.3-million team option for 2016-17 they would have to exercise by Nov. 2. Bennett wouldn't be able to choose his destination in that case, but only two teams - the Portland Trail Blazers and Philadelphia 76ers - have the requisite cap space to make a claim, though the Utah Jazz could maneuver into enough room. The Cleveland Cavaliers also have a trade exception large enough to absorb him.
Should Bennett go unclaimed and the buyout completed, he would become an unrestricted free agent, free to sign with any team. In that case, the Wolves would be able to offset a portion of their obligation to Bennett, commensurate with the size of his new contract.
The Blazers are expected to be among the suitors. Blazers assistant Jay Triano is the head coach of Canada's national team, with whom Bennett played this summer, where he looked to be in great shape and generally played well. The 76ers are also expected to "look carefully" at a possible claim, Yahoo Sports reports.
The 2013 No. 1 pick of the Cleveland Cavaliers, Bennett struggled through shoulder, asthma, sleep apnea, and vision issues during his rookie season. He was then dealt to Minnesota as part of the return for Kevin Love, and while he took small steps forward as a sophomore, he was still largely disappointing.
In 109 career games, Bennett has averaged 4.7 points and 3.4 rebounds, shooting 39.3 percent from the floor and 26.3 percent from long range. But Bennett is still just 22, a terrific athlete, and has the makings of an outside shot, meaning he has the potential to fit the role of a modern NBA power forward, at least on the offensive end.
Players with lottery pedigree at that age don't hit the market often - or ever - so even though Bennett has disappointed, his foray through waivers and into free agency will be one of the leading stories ahead of training camps opening next week.