The Timberwolves officially signed 6'6 guard Alexey Shved to a 3-year contract. He is 23 years old and has been playing pro in Russia. The Wolves have also traded guard Wayne Ellington to Memphis for forward Dante Cunningham.

The Timberwolves have also been linked to a 3-team trade that would send Wes Johnson to Phoenix with a first round pick. The wolves are trying to clear salary cap space to sign Russian forward Andrei Kirilenko.