"I will take this time to reflect on my decisions," Beasley said in a statement, according to The Athletic's Shams Charania. "I apologize to all the great fans out there who have supported me during this difficult time and I promise I will come back very soon as a better person and player."
Beasley pleaded guilty to threats of violence relating to an incident in September. Earlier this month, he was sentenced to serve 120 days in the Hennepin County Workhouse following the conclusion of the season.
The 24-year-old is in the midst of a strong campaign, averaging career highs in points (20.5), rebounds (4.6), and assists per game (2.5) through 33 appearances. He signed a four-year, $60-million deal with the Timberwolves in the offseason.
Beasley will begin serving his suspension Saturday when the Timberwolves take on the Washington Wizards. He'll be eligible to return March 27 against the Houston Rockets.