Timberwolves bring back Chase Budinger for three years, $16 million
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Chase Budinger will stay in Minnesota.
The Minnesota Timberwolves have re-signed the 25-year-old small forward to a three-year, $16 million contract, a source told 1500ESPN.com contributor and KSTP-TV reporter Darren Wolfson on Tuesday afternoon.
Knee surgery knocked Budinger out for the majority of last season, but when healthy he scored 9.4 points per game while shooting 32 percent from three-point range.
The third year of the deal will be a player option. The Wolves and Milwaukee both had been aggressively pursuing Budinger since the NBA's negotiating period opened at 11:01 p.m. Sunday.
The Wolves won't be able to announce the signing until July 10 when the NBA sets its salary cap for the 2013-14 season.
Flip Saunders, the Wolves' president of basketball operations, met with Budinger on Monday in San Diego. The Wolves had director of basketball administration Rob Babcock show up at Budinger's home as the negotiating period opened.
The Wolves also reportedly have a multi-year offer on the table for free agent shooting guard J.J. Redick.