Kevin Martin reached a contract agreement with the Minnesota Timberwolves on Tuesday, according to USA Today.
The deal is worth as much as $30 million over four years but cannot be finalized until July 10, the report indicated.
Martin was willing to take a pay cut from his contract with the Oklahoma City Thunder to reunite in Minnesota with his former coach, Rick Adelman, and fill a need at shooting guard for the Timberwolves. The 30-year-old was making $11 million per season with the Thunder.
"Minny was my first option outside OKC, so I've got to take it," Martin told USA Today. "Especially being (with coach Rick) Adelman, and their starting lineup just needed a two-guard, so I feel like it's a perfect fit. I'm not one to play around. I know where my heart is."
Martin will join Adelman for the third time in his NBA career. Martin played for Adelman after he was drafted by the Sacramento Kings in the first round in 2004 and then from 2010 to 2012 when Adelman coached the Houston Rockets.
The Memphis Grizzlies and Milwaukee Bucks also apparently had interest in Martin. The Thunder wanted to bring him back but hesitated because of salary-cap concerns.
Martin played in 77 games for the Thunder this past season and averaged 14.0 points while shooting 42.6 percent from 3-point range.