Jeff Teague agrees to three-year, $57 million deal with Wolves

Ricky Rubio has played six seasons with Minnesota

This comes after the Timberwolves announced Friday they acquired a 2018 first-round pick from the Utah Jazz in exchange for point guard Ricky Rubio.

The Minnesota Timberwolves will sign point guard Jeff Teague to a three-year deal worth $57 million according to ESPN's Adrian Wojnarowski.

The agreement was reached after the Wolves dealt Ricky Rubio. In an attempt to appease Gordon Hayward ahead of free agency, Utah made a move for a staring lead guard.

The Bulls have waived point guard Rajon Rondo, who averaged 7.8 points and 6.7 assists in his lone season with the team. However, it appears that Hill will be looking for a big payday, something that the Jazz clearly weren't comfortable paying.

The deal was struck as National Basketball Association free agency opened Saturday at 12:01 a.m. ET.

Now, though, they don't have to worry abut getting into a bidding war with Rubio under contract for the foreseeable future. Although, maybe Tom Thibodeau knows something that we don't.

Rubio did a solid job for the Timberwolves in his six seasons with the team as he averaged 8.5 assists and 2.1 steals per game, but the front office thought it was time to go in a different direction. In fairness, Jimmy Butler in the backcourt should help in that department. This continues to build on what was an already impressive core of young talent in Karl-Anthony Towns and Andrew Wiggins.

The 29-year-old was drafted by the Atlanta Hawks with the No. 19 overall pick in the 2009 NBA Draft.