Wells last played in the NBA during the 2007-08 season, when he split the year with Houston and New Orleans.
He spent 2008-09 season playing in China and the 2009-10 campaign in the Puerto Rican League.
A 10-year NBA veteran, Wells has played in 591 career games, averaging 12.1 points, 4.6 rebounds and 2.1 assists.
Lee was drafted 43rd overall out of UCLA in the 2011 draft by the Chicago Bulls but was acquired by Minnesota in a draft-day trade.
Last season, Lee averaged 13.1 points, 3.1 rebounds, 2.0 assists and 33.1 minutes a game for the Bruins, earning him First Team All-Pac-10 and Pac-10 All-Defensive Team honors.