Report: Jeff Teague agrees to three-year, $57 million contract with Timberwolves

Pacers guard Jeff Teague is going to join the Timberwolves.

The Minnesota Timberwolves have agreed to a three-year, $57 million contract with free agent guard Jeff Teague, The Vertical’s Shams Charania reports. The third year is a player option. 

Teague’s agency, ASM Sports, confirmed that Teague will join Minnesota next season.

Marc Stein reported Friday that the Knicks backed off attempts to meet with Teague with the pretense that they were convinced he had already agreed with Minnesota. He appears to have been one of the Wolves’ top targets on the market.

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Teague, 29, spent last season with the Indiana Pacers. The Pacers reportedly traded Paul George to the Thunder on Friday night for Domantas Sabonis and Victor Oladipo, signaling the team is ready to focus on rebuilding with younger players. 

The Timberwolves traded guard Ricky Rubio to the Utah Jazz on Friday, clearing the way for Teague to become their lead ball-handler.

The Wolves have been busy this off-season, trading to add Jimmy Butler on draft night and assembling a talented core ready to make a push for the team’s first playoff berth since 2004.