Garnett traded to Timberwolves, team reportedly trying to sign him to 2-year extension

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Kevin Garnett is headed back to where it all began.

The 38-year-old waived his no-trade clause to go back to Minnesota, where he began his career as a 19-year-old in 1995. Garnett was traded from the Brooklyn Nets to the Timberwolves on Thursday in exchange for power forward Thaddeus Young. 

Related: Garnett's top 5 moments with the Timberwolves

Minnesota wants to retain Garnett beyond this season, according to Jon Krawczynski of The Associated Press, and would like to sign him to a two-year extension. 

Timberwolves owner Glen Taylor indicated that Garnett becoming part of the team's ownership in the future is a possibility, while also expressing his excitement to reunite with the 15-time All-Star. 

"It means a lot to me to have Kevin Garnett back on our team," Taylor said. "I have great respect for Kevin as a person and a player. He was the first player we drafted after I bought the team and we got to see him develop into one of the best players in the world. Like our fans, I'm excited to be able to watch Kevin in a Timberwolves uniform once again."

Garnett, who spent the first 12 years of his career in Minnesota, is in the final year of a contract that pays him $12 million this season. The 20-year veteran is averaging 6.8 points, 6.8 rebounds, 1.6 assists and a steal in 20 minutes per game.

Garnett, who will wear the same No. 21 he wore during his first stint with the Timberwolves, is still a capable defender and rebounder in doses, although his on-court value is less of a factor in what is a sentimental deal that would seemingly allow the future Hall of Famer to end his career full circle.

"He had some great years for us and our organization and fans really respect what he's done here in Minnesota and throughout his NBA career," Timberwolves head coach Flip Saunders said. "KG will bring his usual strong work ethic and leadership and be a positive influence for our young team."

Garnett will likely play his first game back with the Timberwolves at home Wednesday against the Washington Wizards, Saunders said. 

Young, meanwhile, is averaging 14.3 points, 5.1 rebounds, 2.8 assists and 1.8 steals. The 26-year-old, talented yet inconsistent forward, has an early termination option before next season, but could opt in for over $9.9 million.

"We are very pleased to add Thaddeus to our roster," Nets general manager Billy King said. "He is a versatile, athletic forward who will provide us with added flexibility in our frontcourt rotation. In addition, I want to thank Kevin for his contributions over the past two seasons and wish him well in the future."