It's not quite official, but Kevin Garnett has agreed in principal to a two-year contract with the Minnesota Timberwolves, according to multiple reports.
The deal cannot become official until the NBA's signing moratorium is lifted Thursday, but ESPN's Marc Stein says Garnett will sign his contract later this week.
"I'm incredibly excited and rejuvenated to be part of this talented, committed team," Garnett said, according to KSTP's Darren Wolfson.
Garnett, who played 12 seasons in Minnesota before being traded in 2007 to the Boston Celtics, where he won a championship, was traded back to the Timberwolves by the Brooklyn Nets in February.
In 47 games between Brooklyn and Minnesota last season, Garnett averaged 6.9 points and 6.6 rebounds per game.
Nagging injuries limited Garnett to just five games after the trade, but Timberwolves fans will get plenty of "The Big Ticket" when he returns for a 21st NBA season.
If injuries don't allow Garnett to play the second year of the contract, it's expected that he'll move into a position of management with the team in 2016-17, the Star Tribune's Jerry Zgoda reports.
Towns, Jones sign rookie deals
The Wolves also announced that first-round draft picks Karl-Anthony Towns and Tyus Jones agreed to their rookie contracts.
Towns and Jones, along with the rest of the team, will be on full display Wednesday night when the Timberwolves host a scrimmage at Target Center that's free and open to the public.
Minnesota opens Summer League play in Las Vegas on Friday against the Lakers. For more on that, click here.