The Timberwolves finalized a contract buyout Wednesday with 2013 first overall pick Anthony Bennett that will save the team a little more than $2 million on the $5.8 million they owed him for this coming season.

The move reduces the team’s number of fully guaranteed contracts to 15, the maximum number they can carry when the season opens Oct. 28 in Los Angeles. Point guard Lorenzo Brown has a partially guaranteed contract as well.

It also eases a jam at power forward, where the Wolves still have Kevin Garnett, Adreian Payne and newcomers Karl Anthony-Towns and Nemanja Bjelica as well as at least three others who can play that position if needed.

Bennett’s agent sought the buyout, which Wolves General Manager Milt Newton in a statement called “the best outcome for both parties.”

He said Bennett’s summertime play for Canada in the Pan Am Games and an Olympic qualifying tournament “made this a difficult decision” that helps balance the roster.

The Wolves open training-camp practices Tuesday. Their first exhibition game is Wednesday, Oct. 7 vs. Oklahoma City.