Euroleague star Nemanja Bjelica is in serious discussions with the Minnesota Timberwolves on an approximate three-year, $12 million-plus deal, but the two sides have been exploring all options, league sources told RealGM.

Bjelica, 27, has moved toward breaking into the NBA after being named the Euroleague MVP this past season. At 6-foot-10, Bjelica is a skilled forward who could play three positions at the NBA level.

Nevertheless, the Timberwolves likely need to make further moves to incorporate Bjelica and allow him to transition with confidence in his role. Around the league, there’s active trade interest in the Serbian forward, sources said.

A finalized deal with Bjelica and the Timberwolves could happen as soon as next week.

Bjelica averaged 11.5 points, 8.2 rebounds and 1.8 assists for Fenerbahçe Ülker, shooting 54 percent from the field and 37.2 percent from three-point range.