Earlier on Monday afternoon, rumors swirled that Minnesota Timberwolves have interest in Thaddeus Young, who would be the replacement of Kevin Love if and when he is traded to Cleveland. Now, the team has reached an agreement with veteran point guard Mo Williams.

Mo Williams has agreed to a one-year, $3.75 million deal with the Timberwolves, according to Adrian Wojnarowski of Yahoo! Sports. Williams also held discussions with the Dallas Mavericks, until the Mavs ultimately decided to sign Jameer Nelson.

What does this mean for the Timberwolves?

Recent reports say that Minnesota is likely to include J.J. Barea in any deal containing Kevin Love. Could this mean that a deal will happen soon? Certainly. It seems like the Wolves are quickly searching for replacements, fully knowing that they are bound to lose Love, Barea, and even Kevin Martin. While in Cleveland, the Cavaliers are acquiring a few assets to use in the upcoming trade.

However the trade scenarios play out, Williams will bring immediate offense off the bench for the Timberwolves. He averaged 9.7 points and 4.3 assists for the Portland Trail Blazers last season. He will also provide veteran leadership to the young players on the Wolves roster.

Minnesota will be Williams’ sixth team in his 12-year career. The one-time All-Star figures to play backup to point guard sensation Ricky Rubio. Williams was one of the top costless agents remaining on the market.