The Timberwolves made the official announcement of the signing of forward Nemanja Bjelica, the Euroleague MVP.

The team did not release terms of the contract, but our own Jerry Zgoda has already reported that it will be a three-year deal worth nearly $12 million.

Originally obtained in a draft-day trade with Washington in 2010, Bjelica was taken in the second round with the 35th overall pick in that draft.

Bjelica will be introduced to the Twin Cities in a press conference Wednesday.

A 6-10 forward, he was named Euroleague MVP while playing for Fenerbahce Ulker in Turkey, where he averaged 11.5 points and 8.2 rebounds. The 27-year-old shot 54.1 percent from the floor overall and 37.4 percent on three-pointers. In the three seasons before that he played in Spain for Laboral Kutxa Vitoria.

As a member of the Serbian National Team, Bjelica won silver medals at both the 2009 European Championships and ad the 2014 World Championships.