The Minnesota Timberwolves have pulled off a rare feat at this year’s NBA trade deadline: they’ve strengthened their roster, slashed their luxury tax bill, and managed to bring back a beloved veteran, all in one whirlwind week. In a series of moves that had fans and analysts glued to their screens, the Wolves not only improved their chances at capturing their first NBA title but also navigated the tricky financial waters of the league’s salary cap with deft precision.
The biggest headline, of course, is the return of 38-year-old point guard Mike Conley. Just days ago, it seemed like Conley’s time in Minnesota had come to an end. On February 6, 2026, the Timberwolves traded him to the Chicago Bulls, a move that immediately cleared $11 million off their books for the 2025-26 season and dropped the team below the first apron of the luxury tax. But the story didn’t end there. The Bulls quickly flipped Conley to the Charlotte Hornets, who then waived him on February 5, making the veteran guard a free agent.
According to ESPN’s Shams Charania, "Free agent guard Mike Conley Jr. plans to return to the Minnesota Timberwolves. The sides are working on timing of him re-signing. Conley was traded twice this week – to Chicago, then to Charlotte – before being released and allowed to rejoin the Wolves." That’s right—Conley is coming back to the Twin Cities, albeit on a prorated veteran minimum deal that preserves the team’s hard-won salary cap and luxury tax savings.
For Conley, who’s in his fourth season with Minnesota, the numbers this year haven’t exactly jumped off the page. He’s averaged 4.4 points, 2.9 assists, and 1.8 rebounds per game in a career-low 18.5 minutes across 44 contests. But stats don’t tell the whole story. His leadership, poise, and experience in the locker room are invaluable for a team with championship aspirations. As Dane Moore noted, "The longer he waits to comeback, the lesser the cap hit." The Timberwolves may even delay his official return until after the All-Star break on February 20 to further reduce their cap burden.
While Conley’s role will be more limited—especially after the team’s acquisition of breakout guard Ayo Dosunmu—he remains a steadying presence. Dosunmu, brought in from the Chicago Bulls as part of a multi-player deal, has been turning heads this season. The 2021 second-round pick is averaging 15.0 points, 3.0 rebounds, and 3.6 assists per game while shooting efficiently from the field and beyond the arc. His arrival adds both depth and versatility to a Wolves roster that’s already shown it can compete with the best in the Western Conference.
The impact of these moves extends far beyond the court. Thanks to the pre-deadline trade involving Conley, Minnesota’s projected luxury tax bill plummeted from a daunting $24 million to a much more palatable $3.8 million. That’s no small feat in today’s NBA, where financial flexibility can make or break a team’s postseason ambitions. As Sports Illustrated reported, the Wolves now boast the fourth-best odds to win the 2026 NBA Finals, sitting at +1200 according to DraftKings. Only the Oklahoma City Thunder, Denver Nuggets, and Cleveland Cavaliers are ahead of them in the title race.
Behind the scenes, the front office has been hard at work. Team president Tim Connelly, who’s overseen the Wolves’ recent transformation, addressed swirling rumors about the team’s interest in Milwaukee Bucks superstar Giannis Antetokounmpo. Several insiders claimed Minnesota was aggressively pursuing the Greek Freak, hoping to pair him with rising star Anthony Edwards. But Connelly set the record straight with a dose of humor and candor. "I didn’t know that was a thing," he said with a chuckle. "I’m not going to comment on any players but our job always is to get better. We don’t ever want to be static, the last two years have been very successful but it’s ended with 4-1 losses in the Western Conference finals."
While Connelly wouldn’t confirm any specific trade pursuits, he did acknowledge, "So how do we continue to mature as a team? How do we keep pushing the envelope. So anytime there’s an elite player without mentioning names we’re going to do our due diligence." For now, Giannis remains in Milwaukee and the Timberwolves are focused on building a winner through smart moves and internal development.
It’s a pragmatic approach, especially for a team that’s come up short in the Western Conference Finals in consecutive seasons. The Wolves have already shown they can hang with the league’s elite, notching wins over the likes of Oklahoma City and Denver. The hope is that the experience gained from those deep playoff runs, combined with the new blood and veteran leadership, will finally push Minnesota over the top.
As of February 6, the Timberwolves hold a 32-20 record, good for sixth in the Western Conference. With just four games remaining before the NBA All-Star Game on February 15—against New Orleans, the LA Clippers, Atlanta, and Portland—the team has a chance to solidify its position before the season’s home stretch. And with one roster spot still open, Minnesota could further bolster its ranks via the buyout market.
There’s also no shortage of intrigue around how the rotation will shake out. Dosunmu’s arrival means Conley will see even fewer minutes, but the coaching staff values his ability to step in during critical moments, especially come playoff time. As one league insider put it, "There is a lot of interest in Mike Conley on the buyout market, given the leadership and veteran savvy he would bring to any NBA locker room. And if he returns to the Wolves, he will have even less playing time awaiting him, than before he left. Apparently, that doesn’t matter to Mike, who does indeed plan on returning to Minnesota, now that he is a free agent."
All eyes are now on Minnesota as the team prepares for the final push before the playoffs. The front office has managed to keep the roster competitive, the books clean, and the fan base buzzing with excitement. Whether these moves will finally yield a trip to the NBA Finals remains to be seen, but one thing is certain: the Timberwolves are all-in, and they’re not waiting for a superstar to fall into their lap. They’re building their own path to glory—one smart decision at a time.
With Conley’s return imminent, Dosunmu settling in, and the luxury tax no longer hanging over their heads, the Wolves are positioned as true contenders in the West. The next few weeks will reveal whether this bold strategy pays off, but for now, optimism is running high in Minneapolis.