Minnesota T'Wolves buy out Anthony Bennett for $3.6M

The Minnesota Timberwolves have reached agreement on terms of a $3.6 million buyout with the former No. 1 overall pick Anthony Bennett .

If Bennett is claimed on waivers, he would make his full $5.8 million salary and would be owed nothing by the Wolves. If he clears waivers, he is likely to sign a minimum free agent contract worth $947,000, thereby forfeiting about $1 million from his original salary.

Bennett was the top pick of the 2013 draft by the Cleveland Cavaliers. He was traded to Minnesota in the Kevin Love deal last summer, but struggled in his lone season there with injuries.

Bennett played well for Team Canada this summer in the FIBA Americas tournament. But he was on a Timberwolves team filled with options at power forward and due to make $5.8 million this season. The Timberwolves had attempted to trade Bennett but could not find a trade partner to take him.