Timberwolves finalize new contract with Chase Budinger, 1 of top summer priorities

The Minnesota Timberwolves have finalized their new contract with small forward Chase Budinger.

The deal was done on Friday. The 25-year-old agreed to terms last week on a three-year, $16 million contract, but the Wolves had to make some moves to manage their salary cap before they could actually sign him.

Budinger's first season with Minnesota was limited to 23 games because of a lateral meniscus tear in his left knee. But his familiarity with coach Rick Adelman's system from their prior time together in Houston and his ability to shoot and move without the ball on the wing made the 6-foot-7 Budinger a priority for the Wolves to bring back.

The Wolves acquired him last summer from the Rockets for a first-round pick, the 18th overall, in that draft.