Report: Wolves acquire future second-round pick in NBA Draft day two trades

Minnesota kept moving down until it no longer held a second-round pick.

Minnesota Timberwolves president of basketball operations Tim Connelly answers questions at a press conference to introduce the 2022 draft picks at Target Center in Minneapolis on June 28, 2022. / Bruce Kluckhohn-USA TODAY Sports

The Timberwolves began Thursday with the No. 37 overall pick in the second round of the NBA draft.

But it appears that after selecting guards Rob Dillingham and Terrence Shannon Jr. in the first round Wednesday night, Timberwolves president of basketball operations Tim Connelly was satisfied with his team's haul in the NBA draft. The Wolves got through Thursday without making a selection.

The Timberwolves reportedly traded the No. 37 overall pick and Wendell Moore Jr. to the Detroit Pistons for the No. 53 overall selection in a move that helped Minnesota shed cap space.

Then the Timberwolves traded the No. 53 overall pick to the Memphis Grizzlies, and while total compensation wasn't immediately clear, the Timberwolves received the No. 57 overall pick back in return, and Jon Krawczynski has since reported that a future second-round pick was also acquired. Then Minnesota traded that pick to the Toronto Raptors, per Wojnarowski.

Minnesota has traded No. 57 to Toronto, source says.

— Adrian Wojnarowski (@wojespn) June 27, 2024

It was not immediately clear what the Wolves received in return from the Raptors, but the likely scenario is that the trade backs are moves intended to save cap space, Krawczynski has since reported that cash considerations were acquired. Minnesota's selection of Dillingham is projected to significantly raise the Wolves' luxury tax bill next season.

A lot of trading for the Wolves in second round. Told that they got a future second to move down from 53 to 57, then received cash considerations for 57.

Moves that made sense after picking up 2 players in the first round on Wednesday.

— Jon Krawczynski (@JonKrawczynski) June 28, 2024

As it currently stands, the Timberwolves will be well above the second apron of the luxury tax.

This is a breaking news story. More information will be added as it becomes available.