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According to ESPN's Adrian Wojnarowski, the Minnesota Timberwolves have signed forward Kyle Anderson to a two-year deal worth $18 million.

Anderson is a nine-year veteran, playing the past four seasons with the Memphis Grizzlies. He averaged 7.6 points, 5.3 rebounds and 2.7 assists last season and shot 44.6 percent from the floor but just 33 percent on 3-point attempts.

The 28-year-old -- who will turn 29 on Sept. 20 -- figures to be a depth piece for the Timberwolves, who signed Taurean Prince to a two-year contract prior to the start of free agency.

The Timberwolves are also planning on offering Karl-Anthony Towns a supermax extension, which ESPN's Marc Stein reports is a formality in the hours entering the new league year.