One down, one to go:

Kevin Garnett officially signed this afternoon in Las Vegas a two-year contract that at age 39 will pay him $8 million a year to return to both play for and mentor these young Wolves, It was just filed with the league office not long ago while the team continues to finalize a three-year contract worth nearly $12 million for European newcomer Nemaja Bjelica.

The two-year deal will take him playing into his 40s. He made $12 million last season in the final year of a 3-year contract he signed with Boston.

The Wolves issued a release quoting Garnett saying "I can't wait to build something special with this group" and said he help and teach a roster filled with young players as well as learn and grow from them as well.

"I'm looking forward to it all," he said in the release. "The process to greatness starts now."

Garnett will spend some time around the Wolves' summer-league team, which begins play here in Vegas tonight at 7:30 pm Central time against the Lakers.

He's not expected to talk publicly about his decision to return until some time later back in the Twin Cities.

Flip Saunders will be on a conference call with media here at 7 pm Central.

Nemanja is expected in town next week and is expected to be introduced at a Wednesday news conference.

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Garnett agrees to two-year deal; Wolves sign first-round picks Towns, Jones

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Wolves announce signing of Euroleague MVP Bjelica