The Timberwolves offered All-Star guard Jimmy Butler a four-year contract extension worth nearly $110 million and Butler turned it down, team owner Glen Taylor said Friday.

Both the offer and the rejection were expected because the Wolves have made re-signing Butler and young big man Karl-Anthony Towns to maximum contract extensions their top offseason priority and because Butler can make much more if he waits until next summer.

The Wolves made the offer on Monday, the first day they could rework Butler’s current contract, which has two seasons remaining and will pay him $18.7 million next season.

“It’s what we anticipated,” said Taylor, who also owns the Star Tribune. “That’s all you can do.”

Taylor added that the two sides will revisit the matter next summer. That’s when Butler can opt out of his contract’s final season, a decision that would make him an unrestricted free agent. If he does so, the Wolves can pay him more than $187 million on a new five-year contract extension. That’s approaching $50 million more than any other team could pay on a four-year extension.

JERRY ZGODA and KENT YOUNGBLOOD

Wolves win finale

Keita Bates-Diop, the Timberwolves’ second-round draft pick, scored 14 points and had four rebounds and three assists in an 83-71 victory over Denver in the NBA Summer League in Las Vegas. Josh Gray also had 14 points in the win, which came in a consolation game in the bracket portion of the event.

Josh Okogie, the team’s first-round pick, did not play in the Wolves’ last tournament game because of a sprained right pinkie finger. They finish 3-2.

Nets trade Lin

Jeremy Lin’s injury-plagued stint in Brooklyn is over. The Nets agreed to trade Lin to Atlanta.

The Hawks acquired a 2025 second-round pick and the right to swap second-round picks in 2023 with the Nets, who acquired the draft rights to shooting guard Isaia Cordinier and a protected 2020 second-round pick.

Lin, who has a year and $12.5 million left on the contract he signed two summers ago, made it through just 37 games with the Nets, including only one last season, when he ruptured the patella tendon in his right knee during a season-opening loss at Indiana.

Ball to have surgery

Los Angeles Lakers guard Lonzo Ball is scheduled to undergo arthroscopic surgery Tuesday on his left knee.

The Lakers said Ball has a torn meniscus. Ball, who was chosen by the Lakers with the second overall pick in last year’s draft, averaged 10.2 points and 7.2 assists during his first NBA season. He started 50 games. He’s expected to compete with the recently signed Rajon Rondo to be Los Angeles’ starting point guard in a lineup featuring LeBron James.

General Manager Rob Pelinka said Ball is expected to be fully recovered for fall training camp.