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Updated: July 10th, 2013 1:41pm
Wolves wrap up deal with Corey Brewer, reportedly trade Luke Ridnour

Wolves wrap up deal with Corey Brewer, reportedly trade Luke Ridnour

by Nate Sandell
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Corey Brewer is headed back to Minnesota.

After parting ways for two years, the Minnesota Timberwolves and Brewer agreed upon a three-year, $15 million deal on Wednesday that will land the versatile small forward back with the team that drafted him, a source confirmed to 1500 ESPN's Darren Wolfson.

Brewer, who was drafted with the Wolves' seventh overall pick in 2007, averaged 12.1 points and 2.9 rebounds as a suitable swingman for the Denver Nuggets last season while playing solid perimeter defense.

In an effort to clear much-needed cap space, the Star Tribune reported that the Wolves are set to trade guard Luke Ridnour to the Milwaukee Bucks and pull a sign-and-trade with Oklahoma City to bring in Kevin Martin as previously reported.

Trading Ridnour would end a successful three-year stay with the Wolves in which he averaged at least 11.5 points and 3.8 assists in each of his three seasons. But the trade also frees the Wolves of the $4.3 million Ridnour was due next season in the final year of his contract.

The Wolves' day of wheeling and dealing doesn't end there. Based on a report from Yahoo! Sports, center Nikola Pekovic is on the verge of accepting a four-year, $50 million offer from the Wolves.

Pekovic, in his third year with the Wolves last year, averaged a career-high 16.3 points and 8.8 rebounds, but he missed 20 games due to injury.

The Wolves were slated to introduce Martin, a sharp-shooting, eight-year veteran two-guard, on Wednesday morning. But the press conference was abruptly canceled in the early morning hours, as the Wolves had to do some maneuvering to clear the cap space needed to sign Martin and Brewer.

With those deals finished, the Wolves are now allowed to go over the $58.7 cap when signing Pekovic and fellow returnee Chase Budinger.

Nate Sandell is a contributor to
Email Nate | @nsandell