Mike Conley returns to Timberwolves after being traded twice at the deadline

After a brief time away, Mike Conley is coming back to the Timberwolves.

The team plans on signing Conley, a source confirmed, to a minimum contract for the rest of the season after the Charlotte Hornets recently bought Conley out of the remainder of his deal.

Normally, the Wolves wouldn’t be eligible to re-sign a player they traded, but Conley’s situation was different. On Feb. 3, the Wolves traded Conley to the Bulls in a three-team deal with Detroit. After that trade became official, the Bulls traded Conley to the Hornets, who then bought out Conley.

Because Conley was traded twice, that made him eligible to re-sign with the Wolves, who will do so on a pro-rated minimum contract for the rest of the season.

That initial trade allowed the Wolves to save about $20 million in luxury tax and duck under the first apron. That made them available to take on more money than they sent out in a subsequent trade with the Bulls for Ayo Dosunmu, who has played in three games since coming to Minnesota.

Dosunmu figures to be a key part of the rotation the rest of the season.

Conley, 38, remains one of the most respected and key figures in the Wolves locker room even if his season on the court hasn’t gone the way he or the Wolves wished.

Conley’s return gives the Wolves another option off the bench if he can regain his old form for a postseason run.

If nothing else, his leadership and ability to communicate will be valued in a Wolves locker room that could use his kind evenhanded demeanor.