The team reportedly was set to trade Brewer mid-November, most likely to the Cleveland Cavaliers or Houston Rockets, but decided against doing so for the time being due to long-term injuries to point guard Ricky Rubio, out with an ankle injury, and guard Kevin Martin, out with a fractured wrist.
According to the report, the Timberwolves' 5-19 record and last-place standing in the Western Conference have convinced team officials to fully rebuild, thus leaving no incentive to hold on to the veteran Brewer.
ESPN.com reports that the Cavaliers and Rockets are again the lead contenders to trade for Brewer due to trade exceptions that each team possesses. Minnesota reportedly gave the franchises permission to negotiate with Brewer's representatives last month before deciding against trading him.
The Los Angeles Clippers are also in contention to trade for Brewer but face more financial obstacles than Cleveland or Houston.
Brewer, 28, is making $4.7 million in salary this season and has a player option for $4.9 million for next season.
The Cavaliers and Rockets would hope to have Brewer agree to waive the option before potentially trading for him, which was to be the purpose of discussions between the franchises and Brewer's representatives in November, according to ESPN.com.
Brewer is averaging 10.5 points, 3.9 rebounds and 3,3 assists per game this season. He's averaged 10 points per game over his eight-year career.
Brewer spent the first three-plus seasons of his career with the Timberwolves before finishing the 2010-11 season with the Dallas Mavericks. He then played two seasons with the Denver Nuggets and returned to Minnesota before last season.