Budinger sprained his ankle in the first minute of play against Orlando on Saturday night and Muhammad sprained the MCL in his right knee on Friday night against Miami.
The team said Monday that Muhammad will not need surgery on his knee this summer. The first-round draft pick averaged 3.9 points this season.
Budinger played in only 41 games this season. He missed the first two months of the season while recovering from knee surgery.
The team also says Kevin Love will play on Tuesday night against the San Antonio Spurs after missing the game Saturday against Orlando with back spasms.