Report: Wolves, Jeff Teague have mutual interest

After reportedly trading longtime point guard Ricky Rubio to the Utah Jazz on Friday, the Minnesota Timberwolves already appear to be honing in on his replacement.

The Wolves and soon-to-be free-agent point guard Jeff Teague have mutual interest, sources told Tony Jones of the Salt Lake Tribune.

Teague, who spent last season with the Indiana Pacers, is a "heavy, heavy favorite" to sign with Minnesota, USA Today's Sam Amick reports, citing sources.

By moving Rubio's $14.2-million contract, the Wolves project to have close to $30 million in cap space, and can save approximately $35 million by pulling Shabazz Muhammad's qualifying offer.

Teague had also been tied to the Knicks, but New York is reportedly aborting its pursuit of the 29-year-old, convinced he's headed to Minneapolis.