Just prior to the end of the 48-hour window in which the Minnesota Timberwolves had the opportunity to retain restricted free agent Tyus Jones, ESPN’s Adrian Wojnarowski reported that the Wolves had opted not to match the offer sheet.
The Timberwolves confirmed the decision in a statement from president of basketball operations Gersson Rosas later on Tuesday evening.
Jones’ offer from Memphis was for three years and $28 million. The dollar amount is about right for what Jones can provide, but generally a bit much for a backup point guard.
The bigger issue with the Wolves potentially matching, however, is that it would have put them within whispering distance of the luxury tax this year.