Timberwolves president of basketball operations Gersson Rosas issued a statement late Tuesday saying, ''We sincerely thank Tyus for his contributions on the court and Tyus and the entire Jones family for their genuine impact on the Twin Cities community.'' Rosas adds, ''We wish them nothing but the best in Memphis.''
ESPN had reported that Jones and the Grizzlies had agreed to a three-year offer sheet worth $28 million.
The 23-year-old Jones averaged 6.9 points, 4.8 assists and 22.9 minutes for the Timberwolves this past season.
The 6-foot-2 Jones had spent his entire four-year NBA career with the Timberwolves. The Cleveland Cavaliers selected him out of Duke with the 24th overall pick in the 2015 draft but immediately traded him to Minnesota.
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