The Timberwolves reached an agreement Monday on a three-year, $11.7 million contract with Euroleague most valuable player Nemanja Bjelica, according to the Associated Press.
Bjelica, 27, was a second-round draft pick by Minnesota in 2010.
"I'm excited to announce that I intend to sign with the Minnesota Timberwolves and fulfill my dream of playing in the NBA," Bjelica said in a statement. "Thank you Flip Saunders and the rest of the organization for the confidence you have shown in me. I'm looking forward joining the team and helping it become a contender."