The Minnesota Timberwolves have waived forward/center Greg Smith.

Smith was originally signed to 10-day contracts on March 2 and March 12 before being signed through the end of the season on March 22.

He averaged 2.4 points and 2.3 rebounds over 18 games last season with the Timberwolves. In his career, Smith has appeared in 149 games with three teams (Houston, Dallas, Minnesota) and holds career averages of 4.0 points and 3.3 rebounds per game.

Glen Taylor has sold shares of the Minnesota Timberwolves to a number of parties that will enable him to remain the controlling owner into the future.

Taylor had planned to sell 30 percent of the Wolves to Steve Kaplan with the intention of him becoming controlling owner in the future, but the deal fell apart.

Last week Taylor closed a deal to bring in Lizhang Jiang, a Shanghai-based businessman. Jiang, who founded Chinese marketing company Double-Edge Sports, previously worked with the NBA in China. Earlier this month, Jiang, 35, completed the purchase of Spanish soccer club Granada CF. Lanxiong Sports of China reported that Jiang purchased 5 percent of the Wolves and 5 percent of the Minnesota Lynx.

In addition, Taylor has sold a share of the team to Meyer Orbach, a New York-based real estate magnate.

The Wolves are valued at $1 billion.

The Minnesota Timberwolves reportedly drafted Kris Dunn at No. 5 to keep him as he wasn't expected to drop to them.

The Wolves' offer of Ricky Rubio and the No. 5 pick to the Chicago Bulls was made before Dunn slipped and not after.

"Obviously, we liked him," Gar Forman said of Dunn. "He's a very good player."

Chicago reportedly sought Zach LaVine from the Wolves in exchange for Butler.

The Chicago Bulls involved Jimmy Butler in trade discussions with both the Boston Celtics and Minnesota Timberwolves.

The Bulls and Wolves appeared to especially zero in on a trade with Butler for Kris Dunn as the primary pieces.

Chicago also held talks with Boston trading for No. 3 with Dunn as the pick along with Jae Crowder and the 16th overall pick for Butler.

Gar Forman downplayed the reports of Butler trade talks and said he doesn't feel the need to reassure him about his future with the Bulls.

"We appreciate Jimmy," Forman said. "We value Jimmy. It's our job to listen about any player on our roster when there's interest. And obviously we call teams and express interest in players that they have."

The Minnesota Timberwolves and Chicago Bulls have again broken off trade talks centered on a deal of Jimmy Butler for the draft rights to Kris Dunn.

The Bulls have reportedly sought Zach LaVine as part of the package for Butler.

Chicago has been considering going into a full rebuild mode this offseason and had strong interest in Dunn.

The Chicago Bulls and Minnesota Timberwolves have picked back up trade talks centered on Jimmy Butler for Kris Dunn. There is a rising optimism on both sides a deal can eventually be reached.

Both sides have wanted to make a deal but have struggled to come upon agreeable terms.

Chicago is seeking Zach LaVine from the Wolves while Tom Thibodeau would like to keep him.

The Bulls are prepared to go into a full rebuild ahead of a strong 2017 draft.

According to Adrian Wojnarowski, the Wolves have sought the opinion of Karl-Anthony Towns about the possibility of a trade for Butler and his opinions on players that might be traded for him.

The Minnesota Timberwolves declined several attractive offers for the fifth overall pick to select Kris Dunn.

The decision appears predicated on the Wolves' attempts to trade Ricky Rubio. Tom Thibodeau has been active in shopping Rubio throughout the week and his tenure with the franchise is likely coming to an end.

The trade talks the Chicago Bulls and Minnesota Timberwolves had on Jimmy Butler have broken down.

The Bulls were seeking Zach LaVine and the No. 5 overall pick (Kris Dunn) from Minnesota for Butler.

Chicago was not interested in trading for Ricky Rubio despite trading away Derrick Rose this week as they were dialed in on Dunn as well.

Tom Thibodeau coached Butler during their tenure together with the Bulls.

The Philadelphia 76ers have been doing "due diligence" on Ricky Rubio for months.

The Minnesota Timberwolves could consider moving Rubio this offseason.

Philadelphia has been looking to part with either Jahlil Okafor or Nerlens Noel to balance out their roster.

Rubio signed a four-year, $54 million extension with the Wolves in 2014.

Andy Greer is leaving the Toronto Raptors to become the top assistant coach to Tom Thibodeau with the Minnesota Timberwolves.

Greer served under Thibodeau with the Chicago Bulls from 2010 until 2015. Greer spent just one season with the Raptors.

Greer's long previous stint before the Bulls was his run under Jeff Van Gundy with the Houston Rockets.