In rapid-fire moves, the Wolves announced a trade sending Wes Johnson to Phoenix, then followed up by announcing the signing of forward Andrei Kirilenko.
The team did not provide contract specifics, but it is reported to be a two-year, $20 million deal. The second year of the deal has a player option.
"Over his time in the NBA he has proven to be one of the best defensive players in the world," Wolves president of basketball operations David Kahn said. "His ability to play multiple positions and big-game experience will be wonderful assets to our team. he is coming off an MVP season in Europe, on what many believe was the best team in Europe, CSKA Moscow. We are excited to see him in a Timberwolves uniform and wish him well in the upcoming Olympics, where he will be the star player for the Russian national team."
Here is what Kirilenko said in the release: "I'm excited to be returning to the NBA with the Minnesota Timberwolves. The Wolves have one of the best coaches in the league in Rick Adelman and I feel my game fits in well with his style of play. I also like the talent that Minnesota has on the team with star players like Kevin Love and Ricky Rubio.
Kirilenko, 31, played 10 seasons in the NBA, all with Utah. In 681 career games he averaged 12.4 points, 5.6 rebounds, 2.8 assists, 1.4 steals and 2 blocks per game.
As for the trade, the team announced that , in a three-team trade, it had sent Wes Johnson and a future first-round draft pick to Phoenix in a trade that also involved New Orleans.
"We thank Wes for his two seasons in Minnesota and wish him the best in Phoenix," Kahn said in a release. "This trade frees up salary cap space for us as we pursue adding additional players to our roster."
The first-round draft pick, which is reported to be lottery-protected, is for 2013 and had been previously acquired by the Wolves.