It seems that the Minnesota Timberwolves now have a good reason to cheer after finally making an agreement with Spain's b-ball point-guard-star Ricky Rubio.
Drafted 5th overall in the first round by the Timberwolves in 2009, the Timberwolves had made a deal with Rubio's former team in Spain, Joventut, to buy out his contract, but Rubio backed away from the deal. On August 31, 2009, Joventut traded Rubio's rights to his current team FC Barcelona, and conclusively Rubio signed a six-year contract this new FC Barcelona team.
On Wednesday however, Rubio finally signed with the Timberwolves.
There is still no word on the amount the deal the Timberwolves will strike with Rubio, but one thing for certain is that the Timberwolves will be paying FC Barcelona, Rubio's former team, $500,000 towards a $1,000,000 contract buyout. The remaining $500,000 will have to be paid by Rubio himself or may be perhaps negotiated with the FC Barcelona. The NBA policies forbid teams to spend more than $500,000 toward a contract buyout.