It didn’t seem like it was going to happen, as the deadline to reach an agreement in order to allow Martin to be eligible to play in the playoffs was 11 p.m. Central Time on Tuesday, but ESPN’s Marc Stein reported the agreement at 10:31 Central.
ESPN sources say that the Timberwolves and Kevin Martin have reached terms on a buyout agreement and have submitted it for league approval
— Marc Stein (@ESPNSteinLine) March 2, 2016
Stein went on to suggest that the San Antonio Spurs are the favorites to add Martin to their roster, but that Dallas, Atlanta, and Houston are also vying for his services moving forward.