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Timberwolves waive former top pick Bennett

The Minnesota Timberwolves have waived Anthony Bennett, the top overall pick in the 2013 NBA Draft.

Bennett is on the lookout for a new team after the Timberwolves bought out the 22-year-old on Wednesday - a figure reportedly worth $3.6million.

"In speaking with Anthony and his representatives over the past few days, we came to the conclusion that this was the best outcome for both parties," said Timberwolves general manager Milt Newton in a statement.

"When you look at our team, our deepest position is probably power forward. This move balances out our roster while also allowing Anthony another opportunity in the NBA.

"He has a lot of talent and his play this summer internationally made this a difficult decision for us."

Bennett was drafted first overall by the Cavaliers in 2013, and traded to the Timberwolves a year later in a deal that netted the Cavs Kevin Love.

The former UNLV star has struggled to find a place in the pro game. Bennett has averaged 4.7 points in 14.3 minutes per game in two seasons, 5.2 points per game in 15.7 minutes last season with Minnesota.

The team had reportedly been looking to trade Bennett since the NBA Draft, but apparently was not able to find a deal it felt made sense.