Found July 08, 2013 on RealGM:
The Minnesota Timberwolves have made a formal offer to Nikola Pekovic believed to be worth $12 million or more annually. Pekovic is a restricted free agent. Pekovic is not believed to have been offered a deal by a rival team and the number of teams with sufficient cap space has decreased to one or two.

With no viable backup plan, re-signing Pekovic vital

MINNEAPOLIS -- Perhaps the least discussed top-of-the-line free agent on the market finally made a headline late Sunday night. Multiple media reports indicated the Timberwolves extended a formal offer toward Nikola Pekovic, breaking the small amount of chatter surrounding Minnesota's gargantuan center. It's merely the first step toward the penultimate objective of retaining...

Wolves waive Greg Stiemsma and Mickael Gelabale

MINNEAPOLIS -- In a move that clears more salary cap room to finalize Minnesota's roster, the Timberwolves on Sunday waived center Grieg Stiemsma and forward Mickael Gelabale. The decision, which doesn't come as much of a surprise, frees up at least 3.6 million. The organization had until July 17 to make a decision on Stiemsma before his 2.7 million for next year became...

Wolves Waive Stiemsma, Gelabale; Still Trying To Trade Barea Or Ridnour

The Minnesota Timberwolves have waived Greg Stiemsma and Mickael Gelabale to create salary cap space to sign Kevin Martin and Chase Budinger while re-signing Nikola Pekovic. The Wolves are also trying to trade J.J. Barea or Luke Ridnour to balance their depth chart and create additional space. The Wolves had until July 17 to waive Stiemsma or fully guarantee his $2.7 million contract...

Muhammad, Dieng, Paul Headline Wolves' Summer League Roster

The Minnesota Timberwolves announced their 2013 Summer League roster on Monday. Shabazz Muhammad, Brandon Paul, Robbie Hummel, Gorgui Dieng and Lorenzo Brown headline the Wolves' roster.

Wolves Trying To Acquire Corey Brewer

The Minnesota Timberwolves are searching for sign-and-trade options involving Corey Brewer. The Wolves are looking for a defensive-minded wing after signing Kevin Martin and Chase Budinger. Minnesota is looking to trade either J.J. Barea or Luke Ridnour. Without a sign-and-trade, the Wolves could only offer Brewer their $2.6 million cap room exception.

Muhammad, Dieng highlight summer league roster

MINNEAPOLIS -- Three rookie draft picks, two former Big Ten stars and one Minnesota veteran highlight the Timberwolves' 2013 NBA Summer League roster, released Monday. As expected, draft selections Shabazz Muhammad (first round, 14th overall), Gorgui Dieng (first, 21st) and Lorenzo Brown (second, 52nd) will join 12 other players in Las Vegas for a round-robin and subsequent tournament...

Knicks Free Agency Look In: Could the Knicks be in the Market for Greg Stiemsma?

After being waived by the Minnesota Timberwolves in a cap related move, Greg Stiemsma, the 6’11” 259 pound center that earned his contract playing in Boston, was released today by the T-Wolves.  He is officially available, and could be a great addition to the Knicks as their primary back up center to Tyson Chandler. With the trade of Marcus Camby and no other center on the roster...

Video: Ricky Rubio speaks Mandarin Chinese with Yi Jianlian

Minnesota Timberwoles point guard Ricky Rubio got in on the Mandarin fun, speaking some Chinese with former NBA player Yi Jianlian.

NBA salary cap set at nearly 58.7 million

MINNEAPOLIS -- The NBA's salary cap for the 2013-14 season is now set, and the Minnesota Timberwolves are sitting fairly pretty as free agency officially opens. The league Tuesday night set the cap at 58.678 million and announced a luxury tax level of 71.748 million. The league-wide July Moratorium ends at 11:01 p.m., when draft picks and free agents are allowed to sign contracts...
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