After being on the restricted free agent market for nearly three months, swingman Matt Ryan will sign a two-way contract to return to the Timberwolves, according to sources.
Ryan started last season on a non-guaranteed contract with the Lakers but was waived in December and joined the Timberwolves on a two-way deal. He finished the season in Minnesota.
In the 2022/23 season, Ryan played a total of 35 games for the Lakers and the Timberwolves, averaging 3.6 points in 9.1 minutes per game. He also made 38.1% of his three-point attempts.
With a career three-point shooting percentage of 40.1% in the G League, Ryan’s ability to make outside shots earned him a qualifying offer from the Timberwolves, making him a restricted free agent. He had the choice of accepting the qualifying offer or seeking an offer sheet from another team, which Minnesota could have matched.
Since Ryan is staying with the Timberwolves, it seems he was unable to find a suitable offer from another team during the summer. He was one of two restricted free agents still available, along with Theo Maledon of the Hornets.
Once Ryan officially re-signs, the Timberwolves will have filled all three of their two-way contract slots. Luka Garza and Jaylen Clark are the other two Timberwolves players on two-way contracts.
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